Artifact Software Posts Record First Quarter

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Artifact Software announced record first quarter sales, growing 22% over the 4th quarter of 2008, and more than 79% over the same quarter a year ago. Artifact Software is the maker of Lighthouse, an IT Project Workspace that enables teams to effectively collaborate, coordinate project activities, measure objectives, and otherwise ensure that technology projects meet their targeted goals.

Artifact Software, Inc., today announced record quarterly subscription sales of its Lighthouse product, its fourth consecutive quarter of sales growth. For the quarter ending March 2009 product subscription sales exceeded expectations, growing 22% over the 4th quarter of 2008, and more than 79% over the same quarter a year ago. Topping off the strong quarter, new Lighthouse accounts grew more than 164% from Q4 2008 to Q1 2009.

Lighthouse is a software as a service (SaaS) solution for Information Technology (IT) projects. Lighthouse is an IT Project Workspace that enables teams to effectively collaborate, coordinate project activities, measure objectives, and otherwise ensure that technology projects meet their targeted goals. The Company has an impressive list of small, mid-size and large customers including such notable organizations as Thomson-Reuters, AT&T, Bridgestone-Firestone, Medtronic, Aegon Insurance, Booz Allen Hamilton, Amtrak, NCR, Ciber and University of California. Lighthouse software is used on technology projects in the public and private sector with organizations such as the U.S. Department of Defense, General Electric, Honeywell, IBM, and many more.

"Our strong Q1 results reflect two important trends, said Mark Wesker, Artifact's President & CEO. "First, the recent economic upheaval is driving companies to drastically overhaul their business models. To accomplish this, organizations are deploying new technologies to accelerate innovation and evolve from yesterday's laggards into tomorrow's market leaders. Hence, the sheer volume of technology projects is expanding rapidly."

Wesker added, "the second trend stems from the critical role technology plays in today's economy, and the need to break from the past's high project failure rates. These failures were largely attributable to trying to manage technology projects with a mishmash of disconnected spreadsheets, e-mails, instant messages, and Word documents. Using these tools to manage technology projects is like trying to direct air traffic without a radar system; high risk, unpredictable, and unlikely to end well. For this reason, companies are evolving towards true project workspaces, like Lighthouse, where all project activities, costs, schedules, and communications are crystal clear."

For the balance of 2009, Artifact expects to bring new revenue sources online. Consulting and IT Services firms that specialize in technology projects are now reselling Lighthouse and winning new business because of the visibility and accountability it brings to customer engagements. The Company also expects revenue in 2009 from its new OEM Private Label Program. Large enterprise software companies are adding Web 2.0 SaaS solutions to their product portfolios both to expand into SMB markets and protect their flank with large enterprise customers looking to move towards more cloud-based computing solutions.

Lighthouse is available on-demand in both free and subscription editions, and as a virtual "on-premise" appliance, exclusively as a subscription. Pricing starts at $25 per user/month. Read more about Lighthouse or start using it now for free, by visiting the Company's web site at http://www.artifactsoftware.com.

About Artifact Software
Artifact provides software products and services that transform IT projects into a manageable and predictable business process. Artifact's Lighthouse is an IT Project Workspace for virtual teams. It brings together IT project data into a single, affordable and customizable solution so teams benefit with real-time traceability and project metrics, effectively collaborate, and identify and correct risk factors before they have a severe impact on project budgets, schedules, and quality. Lighthouse is offered in free, standard, and enterprise editions as a monthly per user subscription service. It is available both as a hosted SaaS solution, or on-premise as a Virtual Appliance. Artifact is headquartered in Columbia, Maryland.

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Jon Graham
Artifact Software
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