SOURCE: Plateau Systems

talent management software

September 29, 2010 08:00 ET

Plateau Systems Reports Record Results for the First Half of Fiscal 2010

SaaS Talent Management Leader's Strategic Investments Pay Off With 38% Year Over Year Platform Bookings Growth

ARLINGTON, VA--(Marketwire - September 29, 2010) -  Plateau Systems, a leading provider of enterprise-class SaaS solutions for talent management, today announced that the company achieved record results for its fiscal first half of 2010, which ended August 31, 2010. During this period, Plateau's platform bookings grew by 38% compared to the same period in 2009, and the revenue mix continued to shift, with SaaS bookings now comprising more than 80% of Plateau's total platform bookings. In the first half of 2010, Plateau delivered two consecutive quarters of record revenue and is on track to continue that trend. Validating its leadership position in customer success and focus, Plateau also maintained its industry leading 99.5% subscription renewal rate.

First Half Fiscal 2010 Highlights

  • Total Platform Bookings and Revenue
    • Total platform bookings increased 38% compared to the first half of fiscal 2009
    • Total recurring revenue platform bookings increased 54%
    • Recurring revenue backlog increased 25%
  • New Customers
    • 81% growth in new customer transactions compared to the first half of fiscal 2009
    • New customer platform bookings increased 92%, and 90% of new customer platform bookings were SaaS
    • Average new customer transaction size increased 27%
    • Leading organizations including The E.W. Scripps Company, Career Education Corporation, Sonus Networks, and Abercrombie & Fitch, as well as several government organizations and agencies, selected Plateau solutions to support their performance, compensation, and learning initiatives. 

"We continue to demonstrate our market leadership by delivering record results for the first half of 2010," said Paul Sparta, Chairman and CEO of Plateau Systems. "The opportunity for Plateau has never been better, and our investments in sales, marketing, and research and development are paying off. We are on track to improve on these already strong results with a clear focus on delivering outstanding products, services, and support to make our customers successful in talent management."

Market Expansion
Plateau's reputation and historical strength is firmly established in the enterprise market. During the first half of 2010, Plateau increased its quota carrying sales representatives by 50% with a particular focus on the midmarket. Plateau increased the overall investment in sales and marketing, and as a result operating expenses increased 18%. These additional investments yielded positive returns in the midmarket with the number of transactions increasing 100% compared to the first half of 2009 and more than 60% of those transactions involved multiple products. Even with this increased investment, Plateau maintained its record of profitability, delivering an earnings before interest, taxes, depreciation, and amortization margin of 13.2%.

Product Leadership
Highlighting the company's leadership in providing solutions that drive business results, Plateau delivered three significant releases in the first half of the year, including:

During the first half of 2010, Plateau continued to earn recognition and accolades for its product innovation and vision. Bersin and Associates named Plateau a Learning Leader Award Winner for Vendor Innovation for Plateau Talent Gateway, the company's social networking and collaboration solution. Additionally, TrainingIndustry.com named Plateau as one of the Top 20 Learning Portal Companies

For additional information about Plateau, visit www.plateau.com.

About Plateau
Plateau Systems is the industry's premier provider of enterprise-class SaaS talent management suites. Major global corporations and government agencies, including General Electric, the U.S. Air Force and Capital One Services are using Plateau's integrated talent management solutions to improve productivity and facilitate strategic workforce initiatives around learning, performance, compensation and career and succession management. Plateau is widely recognized throughout the industry for its commitment to customer satisfaction, forward-thinking vision and for consistently delivering best-in-class functionality. Founded in 1996, Plateau is headquartered in Arlington, Va. and has offices across the United States, Europe and Asia Pacific.

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