FatWire Reports Record-Breaking Results
* Reuters is not responsible for the content in this press release.
Company Realizes Unprecedented Increase in Revenue and
Profitability
MINEOLA, N.Y.--(Business Wire)--
FatWire Software, the largest privately-held Web Experience
Management (WEM) provider, today announced record-breaking results for
the first half of fiscal year 2008, which ended June 30, 2008.
Following a record first quarter, the company realized the strongest
quarter in its history in Q2 2008, resulting in the strongest
half-year performance on record. Highlights of the first half-year
results, as compared to the first half of 2007, include:
-- 75% increase in license revenue
-- 66% growth in total revenue
-- 92% increase in professional services revenue
-- 137% increase in Earnings Before Interest, Taxes,
Depreciation, and Amortization (EBITDA)
Highlights of second quarter 2008, as compared to the same quarter
last year, include:
-- 143% increase in license revenue
-- 93% increase in total revenue
-- 92% increase in professional services revenue
-- 284% increase in EBITDA
FatWire continues to outperform industry competitors due to an
increased demand for its easy-to-use Web Experience Management
solutions - with capabilities including highly scalable content
management and delivery, sophisticated personalization, targeted
marketing, analytics, and collaboration - which enable organizations
to offer an engaging and rich web experience that keeps customers
coming back for more.
According to the company, the exceptional product license revenue
growth can be attributed to a number of factors:
-- Organizations are recognizing the value in FatWire's Web
Experience Management vision and solutions. They are finding
that delivering a unified experience to customers online is an
enterprise-wide undertaking, and thus are requesting larger
cross-organizational deployments from FatWire. As a result,
FatWire has closed several million and multi-million dollar
deals in the first half of 2008, in both the North American
and international markets.
-- The flagship FatWire Content Server product continues to be
the leading Web Content Management (WCM) solution on the
market, and organizations looking for a best-in-class solution
are turning to FatWire to meet their needs.
-- FatWire's newest products, including the FatWire TeamUp
collaboration solution and the FatWire Content Integration
Platform, are seeing great traction and adoption in the
market.
According to FatWire president and CEO Yogesh Gupta, "As the web
becomes an increasingly critical channel, organizations are replacing
their legacy WCM systems with FatWire solutions for WEM that deliver
the value they need to be successful on the web. And, as we execute on
our strategy, we're seeing enormous interest from customers who want
to expand their business by in investing in our products to create an
engaging web presence."
The company has also seen marked growth in its professional
services business. As customers build out larger web deployments, they
are seeking the help of FatWire experts around the globe to help them
optimize their web presence to meet their business goals, and to
deliver results quickly.
"Time to market with an effective web presence is key for
customers," states Geoffrey Bock, Lead Analyst, Collaboration, Gilbane
Group. "FatWire Software helps organizations put content to work by
deploying highly persuasive content-centric applications and Web
sites."
Midyear company highlights feature:
-- Launch of the FatWire Content Integration Platform - a
peer-to-peer content sharing platform that enables FatWire
users to access content of all varieties stored across the
enterprise and publish it to websites or collaborative spaces.
-- Launch of the FatWire Mobility Solution to enable users to
view websites and collaborate via their mobile devices.
-- Launch of many large new customer sites with FatWire
Professional Services and new wins including: Banco Popular,
Children's Hospital of Pittsburgh, Convergys Corporation,
Elsevier, LaVanguardia, Myera Inc., Military.com, Playboy
Enterprises, Pullmantur, Real Madrid and the U.S. Coast Guard.
-- Launch of a new customer support portal with a friendly
interface and features to enable faster service, self-service
and easier access to information.
-- A "Positive" rating in the June 2008 Gartner report entitled
"MarketScope for Web Content Management" (*).
"The company performance excelled across the board and we're
gratified to be recognized by Gartner in its latest report," said
Gupta. "We believe that our positive rating is a result of our
superior product quality, very positive user experiences, our overall
solution focus, and thought leadership in the market."
*Gartner, Inc. "MarketScope for Web Content Management" by Mick
MacComasciagh, Mark Gilbert, Toby Bell, Karen Shegda and Whit Andrews.
June 26, 2008.
About FatWire
FatWire Software (http://www.fatwire.com) provides
industry-leading Web Experience Management (WEM) solutions that enable
organizations to deliver a rich online experience to users and to
simplify management of their web presence. FatWire is headquartered in
Mineola, N.Y. and serves over 500 customers from offices in 10
countries.
Copyright (C) 2008 FatWire Corporation. All Rights Reserved. 330
Old Country Road, Suite 207, Mineola, NY 11501. All trademarks, trade
names, service marks, and logos referenced herein belong to their
respective companies.
FatWire Software
Rita O'Brien, 516-328-9473 ext. 422
Mobile: 516-661-1225
rita.obrien@fatwire.com
Copyright Business Wire 2008
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