MEI Computer Technology Group, Inc. -- a leading developer of trade promotion management solutions for the Consumer Packaged Goods (CPG) industry -- today announced that the Company's revenue for the first half of 2009 increased 83% over the same period last year and cash reserves are up 21% from June 2008. In addition, MEI has signed six new customers in existing and new market segments. This continued momentum indicates the ongoing adoption of MEI's Trade Promotion Management (TPM) Suite; a solution that improves the overall efficiency and analysis of an organization's trade promotion lifecycle management.
As an innovator in the area of improving CPG companies' control of trade spending and analysis, MEI has expanded its presence to include both the Pharmaceutical and Food Service industries. The roster of new customers also represents continued momentum in the Organic/Natural Foods market which it entered in 2008. In fact, 28 of North America's leading CPG companies are now using the MEI TPM Suite to better manage and monitor their trade spend.
In an ongoing effort to enable customers to better understand incremental sales resulting from trade promotions and to provide overall greater analytical value, MEI has expanded its partner program in 2009. These latest partners include TABS Group -- a leader in analytical innovation; IRI -- a leading provider of consumer, shopper, and retail market intelligence; ArchPoint -- a well known consulting firm to the consumer goods industry; Booz Allen Hamilton -- a leading strategy and technology consulting firm; and M-Factor -- a leading provider of predictive analytics solutions for marketing and trade investment management.
As a testament to the Company's commitment to its customers and to broaden the use of TPM technology in the consumer products industry, MEI's customers have created a regional best practices consortium to truly "reach across the aisle." In these meetings customers not only share ideas on how to extend the use of the MEI TPM platform, but to actually establish best practices.
"With our growing customer base, diversification into new vertical markets within CPG, and our increasing partner network, we believe the MEI is well-positioned for continued growth and profitability," commented Lorne Schwartz, Chief Executive Officer of MEI. "As we move into the future, we remain focused on customer success and growth by providing CPG companies with the most advanced technology platform that will enable them to improve control of their trade spend and achieve better profits."
MEI is a global provider of trade promotion management and retail execution solutions. Founded in 1983, MEI enables companies to reshape their sales and marketing activities by directly linking all phases of the planning process, thus improving the efficiency of their customers' trade spending, account management, sales planning, forecasting and reconciling. The Company provides proven, reliable and highly reference-able sales solutions for the Consumer Goods industry, and continues to help companies such as HJ Heinz Company, Pinnacle Foods Group LLC, Solo Cup, Energizer Personal Care, Morton Salt, Marquez Brothers and The Schwan Food Company increase profits, strengthen brand assets and provide better supply chain and inventory management. MEI clients through the hosted model include Afexa Life Sciences, American Licorice Company, Birds Eye Foods Inc., J&J Snack Foods Corp, Marcal Manufacturing LLC, Pacific Natural Foods, Pierre Foods, Ruiz Foods, Sunny Delight, Sunsweet Growers and WhiteWave Foods. For more information on MEI, please visit www.meicpg.com or call 1-800-INFO-MEI.