SOURCE: MetricStream

MetricStream

August 10, 2009 09:00 ET

MetricStream Continues Strong Growth Trend in First Half of 2009

PALO ALTO, CA--(Marketwire - August 10, 2009) - MetricStream, Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced that it has recorded outstanding growth in the first half of 2009 posting strong bookings, exceeded revenue projections and winning significant customers.

MetricStream's GRC business recorded a strong 76 percent revenue growth in the first half of 2009 as compared to the same time last year. The first half results were driven primarily by new customer acquisitions in the United States and Europe. MetricStream is now serving some of the world's largest companies in life sciences & healthcare, banking & financial services, energy & utilities, retail and hi-tech manufacturing.

The robust growth in MetricStream's business illustrates that despite the slow economy, Global 2000 corporations continue to invest in technology to improve risk management, simplify regulatory compliance, streamline internal auditing and enhance policy enforcement programs. Due to increasing inter-relations between different aspects of risk and compliance, the need for an integrated and federated architecture that can address enterprise-wide requirements has become more acute.

The recession, failure of governance, increasing regulations globally and consolidation trends have all come together to accelerate the focus of large corporations on Enterprise and Operational Risk, Regulatory and Financial Compliance, Policy Management, Operational and Internal Audit, Quality Management and Supplier Performance.

"Customers are not just evaluating application functionality any more. Technology and architecture are playing a critical role, giving MetricStream tremendous advantage in the marketplace," says Shellye Archambeau, CEO of MetricStream. "We are pleased with our performance in the first half of 2009. Our strong focus on ensuring that customers quickly realize value from our applications as well as assuring long-term success continues to be a key differentiator and an important driving factor in our success."

MetricStream's first half 2009 highlights include:

--  Strong new business bookings with 76 percent revenue growth versus the
    same period last year
--  Added new customers in energy & utilities, banking & financial
    services, insurance, hi-tech manufacturing, life sciences & healthcare and
    food & beverage industries
--  Expanded Global 2000 customer base across North America, Europe and
    the Middle East
--  Continued investment in GRC platform and solutions driven by depth and
    breadth of deployments
--  Executed several successful engagements establishing thought
    leadership in association with organizations such as The Institute of
    Internal Auditors (IIA), Standard & Poor's (S&P), Society of Corporate
    Compliance & Ethics (SCCE), Professional Risk Managers' International
    Association (PRMIA), Open Compliance & Ethics Group (OCEG), Silicon Valley
    Leadership Group (SVLG) and Horasis, The Global Visions Community
--  Positioned as a 'Leader' in report The Forrester Wave™: Enterprise
    Governance, Risk, And Compliance Platforms, Q3 2009 that highlighted
    MetricStream's strength of audit management capabilities and its strong
    value proposition for compliance
--  Continued to enhance ComplianceOnline.com as a premier destination for
    content, training, and advisory services dedicated to regulatory
    compliance, IT governance, corporate risk and quality management serving
    two million users
    

"In the remainder of the year, we will continue to invest in our platform, content, community and our people to deliver innovative solutions," said Gaurav Kapoor, CFO and General Manager at MetricStream. "MetricStream is well positioned to help customers effectively manage the GRC challenges of the current economic environment and to significantly extend our leadership position in marketplace."

About MetricStream

MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, UBS, SanDisk, BP, Subway, Fairchild Semiconductor, Hitachi and TaylorMade-Adidas Golf in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.

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