SOURCE: Nimsoft

Nimsoft

October 13, 2009 11:08 ET

Nimsoft Reports "Off the Charts" Q3 Results

All Metrics Show Dramatic Increases Led by a 120% Increase in New Bookings

REDWOOD CITY, CA--(Marketwire - October 13, 2009) - Nimsoft, the "Big 4" alternative for IT performance and availability monitoring solutions, today announced another exceptional quarter of record financial results and major customer wins coupled with further recognition by industry partners and analysts. The company's most recent results demonstrate strong and growing demand for the Nimsoft solution -- even in an uncertain economy. Monthly Recurring Revenue was up over 60% from the prior year and New Bookings more than doubled, up over 120%.

Nimsoft continues to generate positive cash flow and be profitable. During Q3, nearly 80% of new bookings were generated from recurring revenue contracts. Nimsoft has been cash flow positive for every quarter in 2009, and the company expects to continue to be cash flow positive for Q4 and the entire year. Compared to the prior year, the company's order backlog (contractually committed orders that have not yet been shown as revenue) was up by over 70% to nearly $40 million.

In addition to servicing mid-market organizations, Nimsoft is increasingly establishing itself as the monitoring vendor of choice for large enterprises and service providers.

Notable customer wins include:

--  One of the world's leading banks has chosen to replace a Big 4 product
    and standardize on the Nimsoft Monitoring Solution (NMS) across the
    enterprise, where it will ultimately be deployed across tens of thousands
    of servers.
--  One of the largest Web hosting providers in the world chose Nimsoft to
    replace its existing open source solution. Nimsoft will be relied upon to
    monitor and manage an environment that includes more than 60,000 servers.
--  A leading Managed Service Provider (MSP) replaced its existing Dell
    Silverback platform with Nimsoft, which will be used to support the
    monitoring needs of hundreds of customers.
--  Customers announced during the quarter include: Atrion, Foodstuffs
    South Island, Hitachi, ISC, IT Authorities, and Thomas Duryea.
    

Additionally, on August 31st, Nimsoft announced that Ingram Micro Inc. (NYSE: IM) is featuring NMS in its Seismic managed services offering, equipping medium and large VARs and MSPs with the robust monitoring capabilities they need to grow their businesses. Nimsoft and Ingram Micro secured their first joint customer in September.

Nimsoft was also recognized by Gartner in its "Challenger" section of the Magic Quadrant for Event Correlation and Analysis, being the only sub-$1 billion vendor to make it "above the line" in ability to execute.

"We are naturally pleased with our performance this quarter," said Gary Read, President and CEO of Nimsoft. "But, beyond the headline financial results, it is clear that Nimsoft is rapidly establishing itself as the de-facto standard in many markets. It is gratifying that the dedication and work ethic of our highly talented employee base is being recognized by customers, partners, and analysts."

"The Nimsoft Monitoring Solution, already the leading product in its category, continues to advance more rapidly than any of its competitors," stated Read. "We will be making ground-breaking announcements on October 20th that will clearly show the power and flexibility of the Nimsoft platform to address the business needs of customers not just today, but well into the future."

About Nimsoft

Nimsoft is the fastest growing provider of next-generation performance and availability monitoring solutions for the complete physical, virtual, and cloud-based IT infrastructure. Nimsoft solutions redefine the standards for ease of use and speed of deployment -- providing outstanding return on investment and unparalleled customer satisfaction. Over 850 customers in 36 countries rely on Nimsoft solutions to monitor their IT-based business applications and services, including cloud environments. These customers include mid-market and global organizations, such as Barclays Capital, Amway Corporation, Bay Area Rapid Transit, Ladbrokes, MTU Aero Engines, TriNet, and TRW Automotive, and hundreds of leading managed service providers, such as CDW Hosting Services, ENKI, Thomas Duryea, Easynet, and Rackspace Managed Hosting. For more information, visit www.nimsoft.com.

Nimsoft and the Nimsoft logo are trademarks or registered trademarks of Nimsoft Inc. All other company and product names may be trademarks or registered trademarks of their respective companies. © 2009 Nimsoft Inc. all rights reserved.

Contact Information

  • Press Contact:
    Jenny Coupe
    Nimsoft Inc.
    +1 650 517-1975