Adaytum Software Finishes Fiscal Year of Explosive Growth; Record-Setting Sales, Rapid Growth Mark Company's Most Successful Fiscal Year Ever.MINNEAPOLIS--(BUSINESS WIRE)--July 13, 1999-- Confirming its position as the leading supplier of business planning solutions, Adaytum Software today announced it has concluded its most successful year ever with record-breaking sales and a surge of new customers. A flurry of more than 50 contracts and $3 million in sales in June--including a new enterprise win with the International Division of Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. and sales to B.F. Goodrich and Amway--all contributed to record revenues for Adaytum for its fourth quarter and fiscal year that ended June 30, 1999. With sales leaping from $5 million in 1997 to nearly $11 million in 1998, to more than $20 million in fiscal 1999, Adaytum is riding a wave of phenomenal growth--85 percent compound annual growth for the past four years. Among other highlights for the company in the preceding 12 months: -- Venture Financing - The company secured a $5.1 million round of venture financing, led by St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Venture Capital, with participation from Hambrecht & Quist, and other private investors. -- New Products - Adaytum launched "Budget Explorer," a fast-track solution for implementing best-practices budgeting using Adaytum Planning. It also unveiled a new open API Open API (often referred to as OpenAPI) is a word used to describe sets of technologies that enable websites to interact with each other by using SOAP, Javascript any other web technology. for embedding Adaytum technology within third-party applications. -- Addition of Employees and Key Executives - Adaytum added 61 employees and recruited several senior executives to fill out its growing management team. -- New Headquarters - The company moved into new headquarters to accommodate its growing employee base. "We're incredibly pleased with the growth and success of Adaytum Software in fiscal 1999," said Guy Haddleton, chief executive officer of Adaytum. "In the last month, we've closed 53 new contracts and more than $3 million in sales. We've achieved an 87 percent annual growth rate over Fiscal 1999 as a result of the robustness and comprehensiveness of the Adaytum Planning solution for business planning. Moving into Fiscal Year 2000, we intend to extend this track record of success by pursuing our passion to work with leading enterprises to bring business planning to new levels of excellence." ABOUT ADAYTUM SOFTWARE Founded in 1990, Adaytum Software is an international, privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in the U.S., with offices in the U.K. and Denmark. The company is the leading provider of business planning and analysis solutions for enterprise organizations--such as Lucent Technologies, Alumax, Deluxe Corporation, Boise Cascade Boise Cascade Holdings, LLC, which uses the trade name Boise, is an American pulp and paper company, ranked as the thirteenth largest forest products company in the world. , Pizza Hut, Hartford Insurance, Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , CARE, Pepsi-Cola, Textron, British Aerospace British Aerospace (BAe) was a UK aircraft and defence systems manufacturer, now part of BAE Systems. History The company was formed as a statutory corporation on April 29, 1977 as a result the Aircraft and Shipbuilding Industries Act. , and Victoria's Secret--whose requirements have grown beyond the scope of the spreadsheet environment. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Adaytum Planning, is the choice of more than 12,000 users in a broad spectrum of business planning applications, including planning, budgeting, forecasting, consolidation, management reporting, product profitability analysis, and activity-based costing In a business organization, Activity-based costing (ABC) is a method of allocating costs to products and services. It is generally used as a tool for planning and control. This is a necessary tool for doing value chain analysis. . Adaytum is a trademark of Adaytum Software. All other trademarks or registered trademarks are property of their respective holders. |
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