Strong Growth of IT Automation Leader Fueled by New Product Introductions and Key Customer Acquisitions
PALO ALTO, California - August 1, 2008 - Tidal Software(TM), a leading provider of application scheduling and performance management software, today announced record revenues for its fiscal year end June 30, 2008. It also announced its fifth consecutive year of profitability. Trends towards proactive management and automation, as well as the company's industry-leading solutions, have prompted new and existing customers to accelerate their purchases of products and services from Tidal, leading to record revenues in FY '08.
Tidal's strong financial performance was driven by more than 200 percent growth in combined revenues from sales of its Application Performance Management Product Suite. In addition, propelled by deployments of enterprise scheduling and application performance management products, revenues from Tidal's professional services group increased 37 percent.
"I am pleased that the market continues to embrace the vision of proactive management and automation represented by our growing product line," said Flint Brenton, president and CEO of Tidal Software. "The key to our success has always started with the customer. Our customer conversations have led us to develop solutions targeted at some of the most difficult problems facing today's data centers. This focus has driven the tremendous growth of our application performance management product suite and the continued strength of our enterprise scheduling solution."
FY '08 saw the company achieve record results in license revenue, new customer acquisitions, and services revenue for its application performance management solutions as the market continued to shift from reactive to proactive management of mission-critical applications such as SAP, PeopleSoft, and Oracle E-Business Suite. During 2008, Albany International, and Implema AB among others, selected and deployed Tidal solutions.
During FY '08, Tidal continued to advance its leading position in the enterprise scheduling solution space through the introduction of numerous product additions, including an enterprise adapter for VMware and an Intelligent Reporting module. Sales of Enterprise Scheduler also continued their strong growth as customers such as FreshDirect, the Philadelphia Stock Exchange, and the Massachusetts Medical Society selected or expanded their use of this popular product.
FY '08 also saw the company introduce Tidal Intelligent Automation for Exchange Server, a product designed to manage and administer mission-critical Exchange Server environments. "This product offers a unique approach to the problems facing many in the management and administration of Exchange Server environments," said Mr. Brenton. "Because companies are increasingly using Exchange as a critical backbone of their corporate communication and collaboration strategy, having it run efficiently is imperative. Intelligent Automation for Exchange Server helps customers achieve this result. We are extremely gratified by the trend toward early adoption."
The Year Ahead:
Although a slowing economy will likely impact enterprise technology sales across the board, Tidal Software anticipates not only continued annual revenue growth going forward but also faster sales growth in some lines of business for the following reasons:
o Running applications that process growing volumes of data requires batch automation.
o Increasingly sophisticated applications as well as ad hoc queries and processes demand real-time automation.
o Enterprises will seek out performance management products to increase their return on investment in IT.
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(TM) 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 Microsoft .NET and Java. 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.
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Web site: www.tidalsoftware.com