TransPerfect reports record revenue after court clears way for co-founder to buy out partner

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TransPerfectannounced that billed revenue for the first half of2018 exceeded $337 million which marks nearly20 percent growth over $282 million in the same period last year.

The announcement comes after co-founder Phil Shawe was able to buy out Elizabeth Elting, after a battle that made its way to Delaware Chancery Court.

Since the Chancery Court decision, which was upheld by the state Supreme Court after objections by Elting, TransPerfect has resumed acquisitions and expansion. The lengthy battle had led to fears that the New York City-based company was losing momentum and key personnel.

Setting single monthly billing records in May, and then again in June with $61million and $62 million respectively, the second quarter was the largest quarter in company history with revenues of more than $182 million.

In addition to the company’s record-breaking top-line revenue growth, TransPerfect has also created approximately 200 new jobs in 2018, and bolstered its 100-office global footprint with new operations in Shenzhen, China.

GlobalLink, the company ’s suite of technology products added more than 250 new customers.

Phil Shawe,President and CEO of TransPerfect, stated, “Q2 2018 was a landmark quarter for TransPerfect, and we continue to perform at peak levels.” Shawe continued, “We’ve been fortunate to see growth in all of the major sectors we service, and for this we thank both our clients and our valued staff members.I am immensely proud of how our team has made TransPerfect the industry leader in translation services and technology, and that we successfully assist the global operations of the world’s leading corporations.”

With over 100 consecutive quarters of profitable growth since the company was founded in 1992,TransPerfect exceeded $612 million in revenue in 2017.The company has publicly announced its goal of reaching $700 million in annual revenues in 2018.

The privately held company does not disclose net income.

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