Today we’ll talk about our positive Q1 results and our strong demand environment across all markets and pretty much all offerings. Then of course Don will walk through the specifics of the financials in detail and then I’ll give a quick summary, so.
I think in general it was a workman like quarter with very good results. We grew our top line about 12% year-on-year with Q1 revenue coming at about $112 million, well above our forecast. Many of our existing clients are really strengthening ahead of plan and we are also scaling to new business across vertical markets, which I’ll talk about a little bit later in my comments.
We grew gross margins about 200 basis points year-over-year and there still is some room for improvement there as well and we delivered our GAAP earnings of about $0.03 a share. In fact, we grew GAAP profit by about $7 million or $0.12 a share year-on-year on $12 million of incremental revenue. So that’s $7 million of going back to the bottom line on incremental $12 million of revenue.
This marks another quarter of strong revenue and year-on-year earnings growth and we expect this positive trend to continue as we go into Q2 as Don will talk about and I’ll talk about, we are seeing some continued firmness.So let me touch on our demand environment that’s leading to this strong start of the year. First, our revenue is gaining strong momentum in three key areas. First is tech and we are beginning to look at the tech sector really in two discrete areas, consumer tech and enterprise tech. Consumer tech seems to have the strongest growth opportunity. I think as we are seeing sort of overall. In Q1 we saw solid revenue growth from names like Google, Samsung, HP and we saw a well-known west coast consumer device manufacturer. Many of our largest consumer tech accounts are growing nicely or some of our large enterprise tech accounts are generally flat, up or down a couple of percentage points depending upon where they are in their product life cycles.
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