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Quest CE Reports Growth in Revenue and Financial Strength

09-11-2012 06:20 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Quest CE

Quest CE, premier provider of insurance continuing education and FINRA firm element training, announced today the company’s financial results for the first half of 2012, which includes a 23% increase in revenue over last year. Quest CE’s revenue growth of $2.4 million is on pace to significantly surpass the goal of $4.5 million, for 2012.

“We are pleased to provide our customers, vendors, and stakeholders with a brief financial update, prior to our 2012 Annual Report, due out February 2013,” said Quest CE Vice President of Finance Aaron Thompson. “We believe our fastest growth period is yet to come and we can’t wait to announce targets for 2013 and beyond.”

Quest CE recently compiled the results of their Client Mid-Program Satisfaction Survey, where on a scale of 1-10, 10 being extremely satisfied, Quest CE scored a client satisfaction rating of 8.66. Equally important, Quest CE contained their impressive client retention rate of 93%. Earlier this month, Quest CE also released news that for the third consecutive year it has been named to the Inc. 500|5000 List of fastest growing private companies in the United States.

“We believe these results symbolize our core value of delivering on our promises by providing exceptional customer service,” said Quest CE President and CEO Alan Krenke. “Our long-term stability and success translates into the security and peace of mind for our customers. 2012 marks another marketable year for Quest CE as we continue to make significant investments in our team and technology, while maintaining substantial capital and a strong balance sheet.”

Strong revenue growth continues to strengthen Quest CE’s financial position, allowing the company to organically fund an office and staff expansion of 4,700 square feet and 20 additional positions. Quest CE has already set record breaking revenue growth, all while remarkably improving the company’s Current Ratio, a measure of liquidity based on Current Assets/Current Liabilities. The Current Ratio is 2 when just six months ago it was 1, a strong ratio improvement and rare feat for such a rapidly growing company. Contributing to Quest CE’s strong financial position was a 20% increase in the number of customers and amount per customer.

The remainder of 2012 and early 2013 include major product rollouts including Social Media Archiving Express, Securities Exam Prep, and Bridge. Bridge, available January 1, 2013, has the ability to, on a state by state basis, house continuing education requirements, track licenses, and register representatives in one centralized database. This expertly constructed application, integrates seamlessly with FINRA’s Web CRD System, and connects producers with the necessary regulatory bodies and simplifies the multifaceted requirements by removing the need for paper data and filing.

Business Highlights

•Quest CE reports record revenue growth of 23%.
•Quest CE retains impressive client retention rate of 93%.
•Quest CE receives an overall client satisfaction rating of 8.66 out of 10.
•For the third consecutive year Quest CE is named to the Inc. 5,000 List of fastest growing companies in the United States.
•Quest CE partners with Simplicato to begin offering email archiving.
•Quest CE partners with Erado to begin offering social media archiving.
•Quest CE partners with Solomon Exam Prep to begin offering Securities Exam Prep materials.
•Quest CE expands their corporate headquarters, located in Milwaukee, Wisconsin.
•Quest CE’s expansion creates over 20 new internal positions.
•Quest CE launches Codex Express, the industries first self-serviced social media tracking solution.

These mid-year results predict that 2012 will be the eighth straight year of increased revenue, profit and customer growth for Quest CE. For more information on Quest CE’s industry leading products and services, please call our toll free number at 877.593.3366 to speak with a sales representative or e-mail them at sales@questce.com.

About Quest CE
For over twenty-five years, Quest CE has been the premier provider of Compliance Education to the financial services industry. In addition to offering Providership Administration and insurance continuing education (CE) for professionals holding insurance licenses and professional designations like the CFP, CPA, CLE, CIMA and CLU/ChFC designations, Quest CE also provides a complete spectrum of FINRA compliance training solutions including annually required Firm Element Training for registered representatives, on-demand Annual Compliance Meetings, Annual Compliance Questionnaires, Needs Analysis Surveys, Outside Business Activity Tracking, Gifts and Entertainment Tracking and Political Contributions Tracking.

Serving more than 450 leading insurance carriers, broker-dealers, banks, and other financial institutions, Quest CE is committed to providing advanced custom solutions at cost effective rates, while providing a level of service that greatly surpasses their competitors. Quest CE is the single source solution for organizations seeking training and compliance needs.

Quest CE
10850 West Park Place, Suite 1000
Milwaukee, WI 53224

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