Net income nearly quadrupled to $869,000 in the first quarter at CFI Proservices Inc., one of the industry's largest compliance software companies.
First-quarter revenues hit $11 million, up 51% from a year ago. On a buying spree, the Portland, Ore.-based firm bought four new banking software products in April.
"As a result of recent acquisitions, CFI now has one or more major software solutions in over 5,000 financial institutions, making us the largest provider of PC-based banking software in the U.S.," said Matt Chapman, chairman and chief executive of CFI ProServices.
CFI's lending and new accounts products - Laser Pro, Pro Active, and Deposit Pro - totaled $3.2 million, up 19% over the first quarter of 1995.