SOURCE: Triple Point Technology

Triple Point Technology

February 03, 2010 12:12 ET

Triple Point Technology Reports Strong Growth in 2009

Financial Results Fueled by Product Innovation and New Market Penetration

WESTPORT, CT--(Marketwire - February 3, 2010) - Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that in 2009 it achieved record financial results. Record revenues, profits, and software sales were fueled by the company's continued focus on product innovation, new market penetration, and customer satisfaction. Financial highlights reported by the company include:

-- Total organic revenue growth of 35% year-over-year in 2009, with a 51% growth in profits during the same period;

-- Recurring revenue growth of 55%, attributable to strong customer retention rates and record software as a service (SaaS) sales;

-- Thirty-six enterprise software license transactions concluded, with marquee customers added in all industries and targets exceeded in all regions.

"In a year where enterprise software revenue declined by 5% globally, we are particularly pleased with our record-setting results in 2009," said Peter F. Armstrong, president and CEO, Triple Point Technology. "More importantly, we are confident that our continued focus on product innovation and customer satisfaction, along with the just completed and announced acquisitions of Softmar and Enerbility, position us extremely well for a solid 2010."

In addition to the strong financial results booked in 2009, Triple Point also reported the following significant achievements:

-- Innovative product advancements with the launch of Commodity XL for Emissions and the second major release of its business intelligence solution, Management Dashboard;

-- Professional services engagements in support of 79 client projects in 19 countries and completing 22 "go-lives" of its enterprise solutions;

-- Named a 'leader' by Gartner Inc., the world's most respected IT analyst firm, in the inaugural Magic Quadrant studies covering the Commodity Trading and Risk Management (CTRM) and Energy Trading and Risk Management (ETRM) markets;

-- Awarded top honors (the "Gold Award") for Excellence in Energy Technology by Commodities Now magazine and The Energy Partnership, and voted #1 credit risk software vendor in Energy Risk's annual software survey;

-- Expanded presence in Europe, with new R&D and support centers in Geneva and Vienna, and with professional staff growth of more than 75% in the region;

-- In December, completed the acquisitions of Softmar S.A. and Enerbility Software, expanding the company's product line to include the leading solutions for vessel chartering and operations, freight rate risk management, and European energy trading straight-through processing.

About Triple Point Technology

Triple Point Technology® is the leading global provider of multi-market commodity and enterprise risk management software solutions. Triple Point's Commodity XL profitably integrates physical and financial markets on a real-time, service-oriented architecture (SOA) platform for commodities including power, oil, gas, coal, emissions, base and precious metals, agricultural products, biofuels and freight. In addition to Triple Point's award-winning commodity and energy trading software being used by more than 25 percent of both Global 500 commodity trading and Global 500 energy companies, other organizations with large raw material and energy exposure, including consumer products (CP), discrete manufacturers and big box retailers, are quickly adopting the Triple Point solution. Named to the Deloitte Technology Fast 50 for ten straight years, Triple Point is headquartered in Westport, Connecticut, USA. The company was founded in 1993 and serves clients from eleven development and support centers located around the globe. More information is available at www.tpt.com.

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