SOURCE: Cadec Global

January 29, 2008 11:23 ET

Cadec Global Achieves 41% Revenue Growth in 2007

Fleet Management Software Vendor Sees Record Growth and Adds Many New Customers Including Cheney Brothers, Sheetz Distribution Services and Winco Foods

MANCHESTER, NH--(Marketwire - January 29, 2008) - Cadec Global, a leading provider of advanced fleet management solutions, announced today that its 2007 revenue grew 41 percent over 2006 levels, and that fourth quarter revenue alone more than doubled over the previous year. Other achievements for 2007 include:

--  Unit sales increased by 47 percent;
--  140 percent revenue growth from first half 2007 to second half 2007;
--  Employee headcount grew by 30 percent; and
--  The addition of many new customers including Cheney Brothers, Sheetz
    Distribution Services and Winco Foods.
    

Cadec CEO Michael Baney expects that Cadec's momentum in 2007 will carry over and accelerate in 2008. "2007 was a year of significant growth and change for Cadec. The investments in people, systems and product made by Bru Venture Capital proved to be a catalyst for our success. We fully expect Cadec to emerge as the market leader in innovation and customer value in 2008."

In addition to its growth, Cadec also invested heavily in customer support and brought key customers into its product development process. "The changes in process and expansion of key departments are now paying off in the form of stronger customer relationships, and products that have really struck a chord in our marketplace," said Baney, who points to Cadec's strong stream of recurring business from existing customers as a measure of its success in that regard.

Cadec is known for over 30 years of innovative fleet management systems, including the first paperless logs, that help organizations reduce the risks and costs associated with running both private and for-hire trucking fleets. Cadec's mobile solutions extend a company's supply chain into the cabs of its trucks, enabling fleet managers to automatically measure driver performance, monitor critical safety and compliance aspects, optimize fuel consumption and accelerate delivery times. Cadec's open and extensible platform can be easily customized to solve the most vexing fleet management challenges.

"Cadec has been successful because it's very focused on helping customers succeed," noted independent supply chain management analyst David Haidle. "Customers report that Cadec is great at listening, understanding and turning their fleet data into actionable information that helps improve their bottom line."

About Cadec

Cadec Global, Inc. enables mobile asset optimization, process automation and operations visibility through its advanced fleet management solutions. With over 30 years of innovation and experience in the trucking industry, Cadec enables transportation and distribution managers, fleet and logistics experts and business executives to reduce costs, enhance customer service, enforce compliance and safety regulations, and improve driver productivity. Cadec's marquee customer list includes market-leading private and for-hire fleets across multiple industries throughout North America.

Cadec and PowerVue are trademarks of Cadec Global in the United States and other countries. All other trademarks contained herein are the property of their respective owners.

Contact Information

  • For information, contact:
    Michelle G. Faulkner
    Big Swing Communications
    Email Contact
    1-617-510-6998