LEXINGTON, Mass., July 16, 2004 (BUSINESS WIRE) — Excelergy Corporation announced that it achieved record sales bookings for the quarter ending June 30, 2004. These results are on target for Excelergy’s 2004 operating plan, which calls for the company to achieve greater than 30% growth in revenues, cash flow and operating income.
In addition to record bookings and another period of positive operating income, Excelergy achieved 70% gross margins with cash on hand exceeding forecasts. For the past 5 consecutive quarters, the company has trended at approximately 17% growth in bookings. Excelergy’s Q2 2004 revenues were up 9% sequentially over Q1 2004, and the company continues to sustain gross margins at or above 70% – as it has for the last two years.
“International sales accounted for 51% of total bookings – a new company record,” reported Stuart Young, senior vice president of global sales and market operations. “More than 35% of our business continues to come from existing clients, with major license and service add-ons this quarter to Enel’s HedgeDirectâ„- deployment, Strategic Energy’s retail billing and customer care application, and the Italian market operator GME’s MarketRunnerâ„- platform – following the near-flawless opening of the new Italian power exchange in April. Business through our primary channel partners was also particularly strong this quarter.”
“These types of impressive key performance indicators are why Excelergy’s strategy, performance and management have been recognized with the Red Herring Top 100 Award for three years running,” said Excelergy president and CEO, Bill Mahoney. “Our outstanding performance this quarter is an all-time company record. With a strong and growing sales pipeline, proven products, and a consistent business strategy, we remain solidly on track to achieve our aggressive operating plan for 2004 and beyond.”
About Excelergy® Corporation
Excelergy is a world leader in high performance software platforms that increase revenues, improve cash flows and reduce costs in the energy/utility, telecommunications, and financial services and industries. Excelergy software platforms are based on an open, object-oriented, Web-centric, native XML technology architecture. Excelergy has its North American headquarters in Lexington, Massachusetts, its European headquarters in London, England and The Netherlands. More information is available at www.excelergy.com.