Softek Claims 24% Growth

Softek announced record revenue for its portfolio of software products during the Company's 2007 third fiscal quarter, ending December 31, 2006

January 17, 2007

1 Min Read
Network Computing logo

VIENNA, Va. -- Softek Storage Solutions, the leader in Nonstop Data Mobility™ software solutions, today announced record revenue for its portfolio of data migration, data replication and disaster recovery software products during the Company’s 2007 third fiscal quarter, ending December 31, 2006.

Softek posted quarterly revenue growth of 24 percent over the prior-year same period, and 15 percent over the previous quarter. The Company also achieved its seventh straight quarter of positive earnings before interest, taxes, depreciation and amortization (EBITDA).

“Softek is driving its solid growth in new license revenue from our newly released Nonstop Data Mobility solutions along with steady customer renewals worldwide,” said Steven Murphy, president and CEO, at Softek. “We are seeing significant momentum in our new Transparent Data Migration Facility (TDMF™) products for open systems and Logical Data Migration Facility (LDMF™) for the mainframe, specifically where we bundle it with our market leader, TDMF z/OS. Third quarter results included a multi-million dollar, enterprise-wide LDMF deal at a major insurance company and a strategic open systems transaction at a major European telecommunications company, all coupled with a layer of services to achieve fast Return on Assets (ROA) of our solutions. These types of transactions show that we are gaining traction and market acceptance for our newer solutions, especially when combined with services through our partners. This is the model for further growth in 2007.”

Softek Storage Solutions Corp.

Stay informed! Sign up to get expert advice and insight delivered direct to your inbox

You May Also Like

More Insights