North Richland Hills-based Cypress Software Systems closes record sales year

by PegNews wire

NORTH RICHLAND HILLS — Cypress Software Systems, LP today announced record sales in 2007 with revenue growth of 40 percent and earnings increasing 117 percent. That includes a robust close to the year that included 26 new customers signing 32 new contracts for the company’s automated loan decisioning software.

“Despite an apparent economic slowdown – driven largely by the mortgage crisis in the financial services sector – Cypress has witnessed no ill effect, because our clients, who are largely in the banking and credit union industries, use our software during tough times to ensure quality loan decisions are made, thereby controlling the potential for loan losses,” said Stephen G. Sargent, president and chief executive officer of Cypress Software Systems. “The records that we set are an illustration of the quality of our products, services and personnel that drive our continued growth. We’re looking forward to an even better 2008.”

Headquartered in North Richland Hills, Cypress Software Systems, LP is a leading developer of automated credit application decision support technology. Cypress provides community and regional banks, finance companies and credit unions with loan application decision and tracking tools equivalent to those used by the largest national lending institutions.

Source: Cypress Software Systems