Continued adoption of innovative technology leads to surge in both new bookings and revenue
Sunnyvale, Calif. (PRWEB) July 17, 2008 -- Fueled by momentum in the government and military intelligence markets for its real-time, distributed solutions for complex data management, Objectivity, Inc. experienced double-digit growth in both new bookings and revenue for the fiscal year ended June 30, 2008.
Continued adoption of Objectivity/DB, Objectivity’s data repository platform, helped fuel a 26 percent increase in annual bookings over the year ended June 30, 2007 and a 19 percent increase in revenue for the same period.
“We are coming off of a six-month period with a profit margin of 23 percent, and the future for Objectivity has never looked more promising,” said Objectivity President and CEO Jay Jarrell.
Jarrell continued to attribute the growth to the company’s strategic investments in marketing, sales, customer support, and customer-focused product developments over the last several years, as well as acceleration in the adoption of object-oriented technologies in key verticals. The company experienced significant growth in the government sector and also saw gains in the Manufacturing, Process Control and Automation industries, as well as Telecommunications and Healthcare.
“I am particularly enthused about our 26 percent increase in annual bookings, which reflects a growing acceptance of Objectivity/DB and provides Objectivity with a solid base for continued revenue growth,” Jarrell said. “With almost 40 percent of our revenue coming from ongoing royalties and maintenance renewals, we are in a position to manage our growth and react favorably to this increased demand.”
With the FY08 revenue, Objectivity continued to build on its already strong financial position, and Objectivity’s management team is preparing for further gains in FY09.
“With no bank debt, and a quick ratio of 2.9, Objectivity is well positioned to internally support this level of accelerated growth,” said Objectivity CFO Gary Lewis.
A note on Objectivity/DB
Objectivity/DB has a fully scalable, distributed processing architecture that manages localized, centralized or distributed object databases by synthesizing large, complicated streams of data into a single logical view.
About Objectivity, Inc.
Objectivity, Inc. is the leading provider of distributed, real-time, SOA-enabled database management solutions for mission-critical applications. The company’s flagship product, Objectivity/DB, is used by government, security, complex manufacturing, commercial services, science, and engineering organizations to increase speed, precision and productivity. Objectivity remains on the cutting edge of innovation by working directly with clients to build customized programs, find solutions to complicated challenges and seamlessly integrate technology across multiple platforms and languages.
Objectivity, Inc. is headquartered in Sunnyvale, California, USA. Please contact us by visiting www.objectivity.com or calling (408) 992-7100. A 60-day free trial of Objectivity/DB is available on the website, and Objectivity also provides free web-based Object Database Training Courses.
Note to editors: Objectivity/DB is a registered trademark of Objectivity, Inc. All other company, organization, product or alliance names mentioned herein remain the property of their respective owners.
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