We achieved record revenue and a profit margin of 29 percent in our fourth quarter, which caps off a second straight year of significant growth in the middle of a recession
Sunnyvale, CA (Vocus) July 20, 2009
In spite of market volatility that left many technology companies posting losses and several major customers filing for bankruptcy, Objectivity, Inc. ended its' fiscal year with double-digit growth for the second year in a row.
Driven by new customer acquisitions in government and military intelligence sectors as well as increased adoption in emerging markets, the company announced a 10 percent increase in annual revenue over the year ended June 30, 2008. Last year, the company recorded a 19 percent increase in annual revenue; in total, the company has grown an explosive 31 percent since 2007.
"We achieved record revenue and a profit margin of 29 percent in our fourth quarter, which caps off a second straight year of significant growth in the middle of a recession," said Jay Jarrell, Objectivity's president and CEO. "We have been building momentum toward this level of growth for the last several years, and we are excited about the prospect of considerable growth in the year to come."
Jarrell attributes the growth to the company's strategic investments in key business units, as well as Objectivity's focus on creating a geographically diverse customer base that spans several key verticals. For FY09, 41 percent of Objectivity's revenue came from international customers, and worldwide revenue was comfortably split between commercial and government business, with 55 percent of revenue generated in government markets. The company also benefited from existing customer satisfaction.
"I am particularly pleased that more than 32 percent of our revenue came from ongoing royalties [excluding prepayments of royalties] and maintenance renewals," Jarrell said. "That rate reflects our dedication to providing the best service and support to our customers for their mission-critical applications."
Objectivity's management team is already preparing for further gains in FY10, as the company closes in on additional new business in the government sector and explores emerging markets in China, Australia, and Malaysia.
"Objectivity's cash and receivables are at a record level, growing by 20 percent in FY09 and keeping us well positioned to internally support this level of accelerated growth," said Objectivity's CFO Gary Lewis. "We have no bank debt and a quick ratio of 2.9, which will allow us to continue to make the investments required to take Objectivity to the next level."
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., http://www.objectivity.com, 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 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.
hschuler (at) objectivity (dot) com