Meridian Beats Second-Quarter Targets for Revenue and Earnings

Fri Aug 21, 2009 7:33am EDT

* Reuters is not responsible for the content in this press release.

  CHANTILLY, VA, Aug 21 (MARKET WIRE) -- 
For the second quarter of 2009, Meridian Knowledge Solutions, LLC, a
learning-technology company, exceeded its revenue and earnings (i.e.,
EBITDA) targets by 116 percent and 130 percent, respectively. During the
second quarter of 2009, Meridian along with the government practice of
its parent company, Visionary Integration Professionals (VIP), generated
$14.2 million in revenue and $2.4 million in EBITDA.

    Meridian's flagship product is the Meridian Global LMS, a learning
management system for distributing knowledge and sharpening business
skills via the internet.

    "During the quarter, we saw an accelerated number of inquiries from very
large organizations," said Roy Haythorn, vice president of operations for
Meridian. "In the second quarter, the new deals we closed were
predominantly made up of companies who have 30,000 or more users."

    "We've made steady progress toward the goals we collectively set for
ourselves at the end of 2008," added Vince J. Juaristi, executive vice
president for Enterprise Solutions and Human Capital Management at VIP.
"Those goals include forging additional strategic partnerships and
expanding our customer footprint across an array of industries and
regions."

    New Customers

    Among Meridian's new customers for the quarter are:

    -- a Japan-based automaker

    -- an international transportation company

    -- a global manufacturer for the food and beverage industry

    -- a state government, enterprise-wide

    -- a nationwide provider of technical training for the automotive and
marine industries

    -- a 110,000-member labor union representing service industry workers

    Business Highlights

    For the second quarter, Meridian's renewal rates for its subscription
licenses as well as its software-as-a-service offering, MG SaaS, were 100
percent.

    During 2009, Meridian's leadership team committed itself to building on
the functionality of the Meridian Global LMS. With enhanced functions for
managing and selling online and classroom training, Meridian Global LMS
2009 makes it easy for businesses, such as retailers, banks and trade
associations, to train a wide array of customers, suppliers and
distributors.

    "Our customers can easily configure our latest learning management system
to support multiple networks, reseller organizations, distributors and
their own customers," added Haythorn. "That ease of configurability is a
reason organizations are turning to our LMS to deliver learning to
employees as well as external audiences such as customers."

    Among the other reasons new customers cited for choosing Meridian Global
LMS were the product's multi-lingual support and a unique product
architecture that enables easy integration between the Meridian LMS and
HRIS, financial systems and other learning technologies. New customers
also noted Meridian's support for the latest e-learning industry standards
-- such as SCORM (Sharable Content Object Reference Model) and those
developed by AICC (Aviation Industry Computer-Based Training Committee) --
as a motivation for buying.

    Meridian's executives also credit the success of the past several quarters
to the manner in which the company's sales team and delivery group work
together. Meridian's delivery team ensures that customers get off to the
right start with the company's software. That effort was first publicly
recognized late last year when Meridian received the Gold "Excellence in
Customer Service Award" from Chief Learning Officer magazine.

    "We never talk about a sale beginning and ending with our customers," said
Geoff Perry, Meridian's director of Software Implementation Services.
"Everyone across the company stays involved with our clients in one way or
another. So customers know they have more than a few people proactively
offering advice, troubleshooting issues or providing support."

    About Meridian

    To follow Meridian on Twitter, visit http://twitter.com/meridianksi

    Our flagship product, Meridian Global LMS, integrates learning content
management, workforce analytics, knowledge management, and competency
modeling in one learning management system (LMS). In addition to Meridian
Global LMS, we provide professional services, courseware development, and
hosting services.

    We serve 6.5 million users at more than 270 public- and private-sector
employers. And our software is used by companies that range in size from
900,000 employees to less than 100 workers. Our clients include AutoZone,
Panera Bread, the U.S. Air Force, the U.S. Navy, Whirlpool and more than
80 federal, state and local governments.

    We are the number one ranked learning-technology company for customer
loyalty. Our award-winning software aims to deliver learning, distribute
knowledge, and sharpen business skills, which will make you a leader in
your industry. Our Chantilly, Va.-based company is a wholly owned
subsidiary of Visionary Integration Professionals.

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Contact:
Bill Perry
Email Contact
614-975-7538

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