BOSTON, MA--(Marketwire - November 14, 2007) - OpenAir, the world's leading provider of
on-demand professional services automation (PSA) and project portfolio
management (PPM) solutions, announced the achievement of record revenue
growth for the quarter ending September 30, 2007.
OpenAir's revenue grew 44% over the same period last year, while
profitability and cash-flow doubled. This marks OpenAir's 34th consecutive
quarter of revenue growth and fourth year of consistent profitability.
"OpenAir's market-leading solution and powerful financial model continue to
deliver strong results for our customers. Our ability to simultaneously
deliver and invest in growth leaves us well-positioned to continue our
track record of success," said OpenAir CFO Tom Brennan.
OpenAir's growth continues to be driven across vast market sectors, with
increasing exposure in the global enterprise space responsible for much of
the growth. As the market for on-demand services optimization software
grows, OpenAir is well-positioned as the market leader for this segment.
"Our large investment in building customer-focused organization is paying
off as OpenAir continues to prove itself as a superior alternative to
traditional client-server enterprise systems," said Morris Panner, CEO.
"Our continued, profitable growth is a testament to the commitment to be
the most trusted software vendor for our customers."
Highlights from the quarter:
-- OpenAir reached 34,000 active users on its platform, representing over
200 companies of all sizes
-- OpenAir was named to the Deloitte & Touche Fast 50 for New England
(#42) and the Fast 500 for North America (#386)
-- OpenAir's CEO was named co-Chair of the SIIA Software Division
About OpenAir
Based in Boston, OpenAir Professional Services Automation (PSA) software
enables professional services firms to gain controls and insight on their
financial best practices. OpenAir empowers executives to track projects,
teams, and billable hours for improving employee utilization and to
streamline project management. OpenAir Consulting provides both expert
deployment advice on the OpenAir product as well as Services Best Practices
Consulting as part of the OpenAir Optimize™ Services Program. Relying on
a highly experienced team of former Bain, Accenture, Deloitte, Cambridge
Technology Partners and Mercer consultants, OpenAir has developed
comprehensive programs for both the Software-as-a-Service (SaaS) deployment
paradigm as well as for the services vertical industries. OpenAir has
helped leading services organizations across six continents increase
profits through its subscription-based solution. For additional
information, please visit
www.openair.com.
Contact Information: Press Contact
Victor Cruz
508-655-4397
vcruz@mediapr.net