Sunnyvale, CA (Vocus) October 14, 2010
Objectivity, Inc., announced today that the company’s revenues and bookings increased by 22% in the quarter ending September 30, 2010 when compared to the quarter ending September 30, 2009. The company also announced that working capital grew by 9% over the same period last year.
“The continued growth of working capital allows us to make the required ongoing investments to accelerate our revenue growth,” said Gary Lewis, Objectivity, Inc.’s CFO.
“Objectivity continues to show financial growth despite the sluggish economy,” said Jay Jarrell, president and CEO of Objectivity. “We are also looking to expand the company with our latest product, InfiniteGraph, and scout for new talent to add to our growing team.”
As an indicator of the ongoing commitment to Objectivity, Inc.’s products by its customers, and the high level of customer support provided by Objectivity, deferred revenue grew by 17%, primarily reflecting the strong renewal rate of customer support contracts.
With Q1 revenue exceeding our expectations, and good visibility over the next several quarters, Objectivity, Inc. is well positioned to have a banner year in Fiscal 2011.
About Objectivity, Inc. – http://www.objectivity.com
Objectivity, Inc. is the leading provider of distributed, low latency, cloud-ready 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, Inc. 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, and its representatives may be reached online or by calling US + 408 992-7100.
Note to editors: Objectivity, Objectivity/DB and InfiniteGraph are trademarks of Objectivity, Inc. All other company, organization, product or alliance names mentioned herein remain the property of their respective owners.
For more information contact:
Press Contact: Objectivity Public Relations
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