SOURCE: Tidal Software

April 30, 2007 18:01 ET

Tidal Software Announces Q3 Results, 41% Overall Revenue Growth

From the New York Stock Exchange to Hawaii Medical Service Association, Results Driven by Sales to New and Existing Customers

PALO ALTO, CA -- (MARKET WIRE) -- April 30, 2007 -- Delivering fifteen consecutive quarters of growth and profitability, Tidal Software, a leading provider of integrated application scheduling and performance management software, today announced its results for the third quarter of fiscal 2007, ending March 31, 2006. Total revenue was up 41% year to date compared to the fiscal third quarter of the previous year. The year to date results for new license revenue was up 56% compared to the previous year, driven by sales to both new and existing customers and demonstrating the demand for Tidal's point solutions as well as the complete suite of products. The results drove both profitability and positive cash flow from operations.

"This quarter demonstrated the breadth of our business as we achieved our results through a mix of business with both new and existing customers," said Flint Brenton, CEO and President of Tidal Software. "The market is recognizing the strength in our individual products as well as the unique added value of our integrated suite. We achieved key competitive wins for all our products, the most significant of which were for our Java performance management product. We have recently broadened the market coverage for our scheduling solution to better embrace the mainframe. Our integration of automation and performance management technologies continues to widen the gap between our solution and that offered by our competitors."

Customers that highlighted the range of wins for the company include existing customer New York Stock Exchange who recently selected Tidal Intersperse for monitoring of mission critical Java-based portal applications. Hawaii Medical Service Association selected Tidal's job scheduling product for managing a range of systems. The company continued to see strength in the financial services, health care, and manufacturing sectors.

Tidal was also recognized in the recently published Gartner study "Magic Quadrant for Job Scheduling, 2006" for the company's vision and its ability to execute. Highlighted in the report were recent significant functionality improvements to Tidal Enterprise Scheduler and the unique integration between Tidal Enterprise Scheduler and the Tidal Application Performance Management (APM) products. The report noted Tidal's strengths in scheduling packaged applications and as a solution in purely distributed, cross-platform scheduling environments. The company's recent announcement of Tidal Enterprise Scheduler 5.3 with the ability to reach across to z/OS makes it the only product positioned to reach all the packaged-application, cross-platform operating environments cited in the study.

In other news, the company recently announced the appointment of Martin Milani as CTO. Milani joined the company last year as part of the acquisition of Intersperse. (See related announcements.)

About Tidal Software

Tidal Software is a leading provider of application scheduling and performance management software that radically simplifies IT operations by automating and integrating performance and process management. Tidal's solution puts IT operations management into the business process using new levels of automation, visibility, and control over systems. Tidal makes applications such as SAP®, PeopleSoft®, and Oracle E-business Suite™ more efficient, reliable, and secure to return greater business value. Tidal also gives IT deep visibility into and precise control over new SOA-based composite solutions consisting of packaged applications and custom components in Java and .NET.

General Mills, HP, ING Direct, Microsoft and T-Mobile are among the Tidal customers who use Tidal to reduce operational costs by running IT at higher efficiency rates and containing overall data center footprints. Privately held, Tidal is venture-backed by Kleiner Perkins Caufield & Byers, Novus Ventures, Panorama Capital, and VantagePoint Venture Partners. For more information, contact Tidal Software at (650) 475-4600 or visit www.tidalsoftware.com.

Tidal Software Logo, Tidal Enterprise Scheduler, Tidal Horizon, Tidal Intersperse and Expert-in-a-Box are trademarks of Tidal Software, Inc. All other trademarks are those of their respective owners.