VirtualEdge Announces Record First Half for Profitable Growth and New Customer Wins

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VirtualEdge Corporation, a world-leading provider of Workforce Staffing Solutions today announced record setting results from its first half, making the start of 2004 one of the strongest in company history. With more than 100% growth in new enterprise customers in the first half as well as new powerful innovations brought to market with release 6.2, VirtualEdge is starting the second half of 2004 with even greater optimism and momentum.

VirtualEdge Announces Record First Half for Profitable Growth and New Customer Wins

Workforce Staffing Solution success nets new customers and highest sales in company history.

PHILADELPHIA, August 19, 2004 - VirtualEdge Corporation, a world-leading provider of Workforce Staffing Solutions today announced record setting results from its first half, making the start of 2004 one of the strongest in company history. With more than 100% growth in new enterprise customers in the first half as well as new powerful innovations brought to market with release 6.2, VirtualEdge is starting the second half of 2004 with even greater optimism and momentum.

"Our results reflect a very successful first half for the company," remarked Mike O'Gorman, chief financial officer of VirtualEdge. "We experienced significant growth in sales while improving both gross margins and net earnings. We expect to continue our strong performance throughout the remainder of our fiscal year."

"Our fast growth is a true testament to the strong and pertinent value proposition of our remarkable offerings," said Diane Smith, chief executive officer of VirtualEdge. "Our dedication to our customers is a strong catalyst for us to continue to drive the market to greater performance, better execution and maximum success. Our vision of empowering the strategic staffing enterprise to be more performance driven is gaining strong momentum and will continue to be the cornerstone of our growth."

2004 FIRST HALF HIGHLIGHTS

  • Notable First Half Customer Wins: A partial list of new customers include: Campbell Soup Company, Hyrian, Reed Business Information, Salt River Project Agricultural Improvement and Power District, Pacific Sunwear of California, and URS Corporation.
  • Global Expansion: Expansion of the double-byte character set such as Japanese, Simplified Chinese, Traditional Chinese and Hindi, VirtualEdge can now serve global customers all around the world. Unlike offerings from competitive providers, the VirtualEdge model allows users in multiple global locations to access information in their native language in real-time from the candidate career center or the recruiters' back-end interface.
  • Self Service Configurability: Allows system administrators to adapt VirtualEdge software to precisely meet specific business and industry needs. VirtualEdge administrators can configure the application to meet organizational requirements on demand using a complete point-and-click suite that supports the extension of all aspects of E*TRACK.
  • Contingent Workforce Staffing: Broadcom Corporation and URS Corporation have extended the value of the VirtualEdge Staffing Platform by selecting E*TRACK CMS to manage and support their contingent labor pools.
  • SAP Integration: Successful bi-directional project completed with Suncor Energy.
  • VirtualEdge Release 6.2: Released April 12th, which included new features that set the benchmark for configurability, performance and power.

"We are seeing more companies invest in our solutions as they prepare for growth and aggressive recruiting initiatives," continued Smith. "We are fortunate to count among our customers some of the most forward-looking organizations in the world. Their roles are critical to the company's overall success as they demand the best and we deliver it to them. We look forward to the remainder of 2004 as we continue to offer industry leading, innovative products. Based on the first half results, it's already looking to be another exciting year for our team and for our customers."

About VirtualEdge

VirtualEdge Corporation is a world-leading provider of Workforce Staffing Solutions with customers operating in North America, Europe and Asia Pacific. VirtualEdge offers highly innovative and configurable solutions to provide a performance-driven solution that can easily flex to any business process while supporting the growth and expanding demands of global organizations.

Dedicated people and superior solutions, the VirtualEdge Workforce Suite provides power staffing organizations a suite of software and services that integrate talent acquisition and hiring management to improve performance, process and business metrics. Many of the world's foremost organizations such as Aventis Pharmaceuticals, Avery Dennison, Broadcom Corporation, Campbell Soup Company, Citgo Petroleum, Honda and PacifiCare utilize our solutions. You may visit VirtualEdge on the Web at (http://www.VirtualEdge.com) or contact us at 215-504-5400.

For Information Contact:
Howard Fiderer
VP Marketing
VirtualEdge
hfiderer@VirtualEdge.com
(215) 504-2322

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

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Howard Fiderer
VirtualEdge Corporation
215-504-2322
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