With our very solid and liquid balance sheet, and recurring revenue continuing to average in excess of 35% over the past five years, Objectivity is well positioned to promote accelerated growth as the economy continues to recover
Sunnyvale, CA (Vocus) July 21, 2010
Objectivity, Inc. announced today that the company continued its strong financial performance for the fiscal year ending June 30, 2010, including a solid finish to the year with profits of 23% in the fourth quarter. This is the third straight year of profitability during an economic downturn and seven years of profitability over the last eight years.
Objectivity, Inc. also announced record levels of cash and receivables, increasing working capital by 8% since June 30, 2009. Continued high renewals of existing maintenance contracts contributed to a very impressive 18% increase in deferred revenue over the year, which reflects Objectivity’s ongoing commitment to the highest levels of customer support.
“With our very solid and liquid balance sheet, and recurring revenue continuing to average in excess of 35% over the past five years, Objectivity is well positioned to promote accelerated growth as the economy continues to recover,” said Gary Lewis, Objectivity’s CFO.
“It is clear that internal investment is where the risk/reward arrow is pointing,” said Jay Jarrell, Objectivity’s president and CEO. “A good example of this is the recent formation of our new business unit and related investments behind our upcoming product launch of InfiniteGraph, the distributed graph database for the cloud and beyond.”
Strong financials and successful performances from FY10 allowed Objectivity to expand and create a new business unit, InfiniteGraph, targeted at the emerging NoSQL market. InfiniteGraph directly compliments the adoption of graph database products and is strategically complimentary to their flagship product, Objectivity/DB.
About Objectivity, Inc.
Objectivity, Inc. is the leader in distributed, scalable data management technology. The company’s patented, distributed data engine and persistent object store, Objectivity/DB, is the enabling technology within many markets and sectors, powering some of the most complex applications and mission critical systems used in government, business and science organizations today.
Objectivity is committed to your success. Objectivity, Inc. has offices and representatives worldwide, and works directly with organizations, integrators and technical teams to recommend solutions and support options specifically tailored to clients' project and technical requirements.
Objectivity, Inc. is headquartered in Sunnyvale, California, USA. Please contact the company online or call (408) 992-7100. Objectivity, Inc. provides a free trial version of the product, direct assistance from its technical representatives and team of systems engineers, in addition to free Web-based training, and the Objectivity Developer Network, a resource for developers and evaluators that offers free open source applications, tutorials, code snippets, and other technical materials.
Note to editors: Objectivity/DB is a 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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Press Contact: Objectivity Public Relations