SOURCE: AXS-One

May 06, 2008 08:25 ET

AXS-One Announces Strong Start to Second Quarter 2008 License Revenue

Competitive Replacement Contract Drives New License Revenue

RUTHERFORD, NJ--(Marketwire - May 6, 2008) - AXS-One Inc. (OTCBB: AXSO), a leading provider of high-performance records compliance management (RCM) solutions, today announced a number of contract wins, all signed during April 2008. These wins, which include a major competitive replacement contract, signal a positive start to the Company's second quarter 2008 revenue growth.

The Company announced that as of April 30, 2008, it has closed more than $700,000 of new license revenue, and is on track to continue its momentum of license and revenue growth through the second quarter. Today's announcement follows on the heels of AXS-One's first quarter 2008 financial results and the announcement of the Company's best-ever quarter for RCM revenues.

The new or expanding customers include an South Asian bank, a major U.S. law firm and an international healthcare services company, where AXS-One replaced a failed implementation from a competitor. The healthcare services customer chose AXS-One after an extensive production test of the AXS-One Compliance Platform™, which included scalability, usability and performance testing on a Windows server using VMWare against production data. The customer will initially be going live with 25,000 users, deploying AXS-One's integrated solution for Lotus Notes archiving, mailbox management, retention management and litigation readiness.

"We are beginning to see the strong market demand that we have been expecting for a few years," said Bill Lyons, CEO of AXS-One. "Today, we are also seeing the Early Adopters review their initial archiving decisions and make new buying decisions based on changing regulatory requirements and new technologies.The business we closed in April, particularly where we have replaced a failed implementation by a competitor, represents a strong validation of our award-winning AXS-One Compliance Platform flagship product. As demand for scalable archiving solutions continues to increase, it's clear that AXS-One is extending its market leadership by delivering a rich set of features and functionality with the lowest infrastructure costs as well as fast implementation."

The AXS-One Compliance Platform provides a single, scalable archiving and electronic records management software platform for policy-based management of disparate electronic records (including e-mail and instant messages, reports, SAP output, desktop documents and images). The solution features a broad range of capabilities to address growing requirements for risk management, e-discovery and regulatory compliance, as well as delivering exceptional operational savings and superior ROI.

Mr. Lyons concluded, "We continue to believe we will achieve significant global market penetration going forward based on the strength of our product offerings. These wins are reflective of this confidence."

About AXS-One Inc.

AXS-One Inc. (OTCBB: AXSO) is a leading provider of high-performance Records Compliance Management software solutions. The AXS-One Compliance Platform enables organizations to implement secure, scalable and enforceable policies that address records management for corporate governance, legal discovery and industry regulations such as SEC17a-4, NASD 3010, Sarbanes-Oxley, HIPAA, The Patriot Act and Gramm-Leach Bliley. AXS-One's award-winning technology has been critically acclaimed as best of class and delivers digital archiving, business process management, electronic document delivery and integrated records disposition and discovery for e-mail, instant messaging, images, SAP and other corporate records. Founded in 1978, and headquartered in Rutherford, NJ, AXS-One has offices worldwide including in the United States, Australia, Singapore, United Kingdom and South Africa. For further information, visit the AXS-One website at http://www.axsone.com

AXS-One, the AXS-One logo, "Access Tomorrow Today," and AXSPoint are registered trademarks of, and AXS-One Compliance Platform, AXS-One Central, AXS-One Retention Manager, AXS-One Rapid-AXS, AXS-Link for Desktop, AXS-Link for SAP, AXS-Link for Lotus Notes, AXS-Link for Microsoft Exchange, AXS-One Data Archive Translator, AXS-Link for File System Archiving, AXS-Link for .PST Management, AXS-One Supervision, AXS-One Case Management, "The Records Compliance Management Company" and AXS-Link are trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.

Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: our ability to improve financial and sales performance; risks relating to liquidity; potential vulnerability to technological obsolescence; the risks that our current and future products may contain errors or defects that would be difficult and costly to detect and correct; potential difficulties in managing growth; dependence on key personnel; the possible impact of competitive products and pricing; and other risks described in more detail in AXS-One's most current Form 10-K and other subsequent Securities and Exchange Commission filings.

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