Tidal Software Announces Strong Third Quarter Results, Delivering Nineteenth Consecutive Quarter of Profitability
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Company Achieves Record Growth in New Intelligent Automation Solutions for SAP
PALO ALTO, Calif., April 30, 2008 -- Tidal Software, the leading provider of intelligent automation for IT operations, today announced results for the third quarter of fiscal 2008, ending March 31, 2008. Sales of new licenses for the quarter grew 37% over last year, led by record growth in sales of performance automation products for SAP solutions. The company delivered its nineteenth consecutive quarter of profitability and continued to be cash-flow positive. Other highlights included growth in professional services revenue for the quarter of 45% and continued maintenance revenue growth of 25%.
"Our customers are achieving tremendous results as we continue to expand the role of automation in IT Operations," said Flint Brenton, CEO and President of Tidal Software. "At our recent Tidal user conference, Tidal customers highlighted the rapid ROI they are achieving today with our solutions. Through Intelligent Automation for IT Operations we are delivering a complete roadmap for IT that starts with cost effective, consistent, reliable operations of business applications and leads to optimized utilization of the computing infrastructure to match business priorities and real-time needs."
Tidal Intelligent Automation(TM) solutions bring together operational, diagnostic, and corrective action processes, increasing the depth and breadth of automation that can be achieved in IT Operations. The resulting automation of IT processes not only reduces the costs associated with ongoing operations, often referred to as "lights on" activities, but also quality and consistency of the level of service delivered to the business.
For the quarter the company saw continued strength in its performance automation products for SAP solutions, Tidal Horizon and Tidal Transaction Analyzer, with new customer wins spanning key market segments including companies in IT outsourcing, energy, metals, chemicals, and pharmaceuticals. Additional new customer wins also spanned diverse industries to include businesses such as Ecolab, Hasbro, ING Investment Management, and Implema.
In the third quarter Tidal Software continued to work with its customers to expand functionality across its product line. The company further extended the reach of Tidal Enterprise Scheduler(TM) with connectivity to such popular solutions as IBM DataStage and SAS. In other news, the company recently announced two new products: Tidal(TM) Intelligent Reporting for Enterprise Scheduler, a data warehouse and reporting solution for Tidal Enterprise Scheduler, and Tidal(TM) Intelligent Automation(TM) for Microsoft Exchange Server, a run book automation product for the management of Exchange 2003 and Exchange 2007. These offerings demonstrate Tidal's ongoing support for solutions that expand and standardize automation across heterogeneous, geographically dispersed, and evolving IT environments. Tidal was also recently highlighted in a Gartner research note IT Workload Automation Broker: Job Scheduler 2.0 by Research VP Milind Govekar which describes the role of IT Workload Automation Broker technology in providing automation for improved availability and performance of key business processes.
About Tidal Software
Tidal Software is the leading provider of intelligent automation solutions for IT operations. By bringing together application scheduling and performance management software Tidal's solutions radically simplify 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 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.
For more information contact:
Will Matlack
650.475.4645
pr@tidalsoftware.com
Web site: www.tidalsoftware.com
