We are particularly proud of achieving a new revenue record in our second quarter, which is seasonally a less productive period of the fiscal year for us.
Sunnyvale, Calif. (PRWEB) January 6, 2009
As companies across the U.S. grapple with a lagging economy and declining revenues, one Silicon Valley database management provider is thriving against the odds. Objectivity, Inc. announced today that it experienced double-digit growth in both revenue and bookings for the six months ended December 31, 2008.
With continued momentum in commercial markets for the adoption of Objectivity's data repository platform (Objectivity/DB), as well as accelerated adoption of the technology in the government, aerospace and military intelligence markets, Objectivity realized a 51 percent increase in revenue and a 45 percent increase in bookings compared with the six months ended December 31, 2007.
The company also achieved a net profit margin of 15 percent during the six month period ended December 31, 2008 and set a revenue record1 for the second quarter of that period.
"In light of the current economic environment, this growth is especially momentous," said Jay Jarrell, Objectivity's president and CEO. "We are particularly proud of achieving a new revenue record in our second quarter, which is seasonally a less productive period of the fiscal year for us."
The surge in revenue helped Objectivity further build its financial strength; Cash and Accounts Receivable increased by 28 percent compared to December 31, 2007, resulting in a 37 percent increase in working capital.
"With no bank debt, and our quick ratio now standing at 3.3 (up from 2.8 a year ago), Objectivity continues to be well positioned to internally support this level of accelerated growth," said Gary Lewis, Objectivity's CFO.
Jarrell is also confident in the company's strong position for the second half of the fiscal year.
"By continuing the trend of growing revenue and strengthening our balance sheet, Objectivity is poised to take advantage of increased demand for Objectivity/DB in all targeted vertical markets," Jarrell said.
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 http://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.
1 Excluding the quarter ending 6/30/01, which included a large, one-time non-standard transaction.
Hillary Schuler Jones
Email:hschuler (at) objectivity.com
Tel: (408) 992-7161