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30% Growth In Second Half of 2003
2004-02-17 admin
Percussion Software, developer of practical software solutions enabling customers to maximize the value and quality of enterprise content, announced strong growth as it posted results for the second half of the year 2003.
Demand for its content management software products rose significantly, driving a 30 percent increase in sales over the first half of 2003. In addition, boosted by growing momentum in European sales, the company also posted record-high Q4 results across all product lines.
Privately held Percussion Software, founded in 1994, is self-funded and profitable, with no debt or venture capital financing.
"Customers are responding positively to the richness and value of our expanded content offerings, enabling us to post impressive growth in the second half, including a record-breaking fourth quarter," said Barry Reynolds, president and CEO of Percussion Software. "Because of their growing recognition that Rhythmyx is the best solution to meet their content management needs, uptake remains high. Plus, with the additions of Lyrix, the Rhythmyx Express Portal and the Linux version of Rhythmyx 5, we have broadened our content management market reach significantly, providing a solid base for our continued growth in 2004."
Building on the continued success of its Rhythmyx 5 Content Management System and an expanding product family, Percussion added many new enterprise customers in the period, including Zenith Insurance, Penn Mutual, Susquehanna International Group, Blackrock Financial Management, Arapahoe County, Colorado, and the Online Computer Library Center (OCLC). European sales were especially strong as Percussion continued its European expansion with new clients including Post Denmark, Icelandair, Scottish Borders, and the National Society for the Prevention of Cruelty to Children in the UK (NSPCC).
In addition, Percussion rolled out new partnerships during the second half with database market leader Sybase and Convera, a leading vendor of search and categorization technology.
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