Changepoint Announces Record Fourth Quarter: Breaks Even and Reports Highest Ever Quarterly Revenues; Ends Fiscal Year 2001 With Over 300 Customers.Business Editors TORONTO--(BUSINESS WIRE)--Aug. 14, 2001 Changepoint Corporation, a leading provider of Web-based business process automation solutions for IT services organizations, today announced results for the fiscal fourth quarter and year ended July 31, 2001. In the fiscal fourth quarter, Changepoint signed 23 new customers, including Clarkston Group, Marconi Corp. and Kronos Inc. in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and 1eEurope and Differntis in Europe. New deals comprised of software licenses In computing, software that is copyrighted and licensed under a software license is done under a variety of licensing schemes. For end-users there are proprietary licenses and there are free software licenses, and there are proprietary Within these schemes are further classifications. , and ASP and channel sales. The company also received orders for additional licenses from 28 current customers, including Sprint Canada, NetStar Communications Inc. and Morris Group. Sales of Changepoint's software doubled from the previous quarter, which ended April 30, 2001. "While many of our competitors continue to report spiraling expenditures and substantial losses, Changepoint breaks even with healthy sales and strong operational performance," said Gerry Smith, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Changepoint Corporation. "We recognized early on that being the dominant player in the PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. market is not so much about being public, as it is about providing the best product and customer care, while at the same time achieving financial success." Q4 2001 Milestones - Signed 23 new customers, including three ASP - Signed first ASP client in Europe - Reorders from 28 existing customers, including two ASP/hosted - Channel partners signed eight deals in the quarter Fiscal Year 2001 in Review - With more than 300 customers and over USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $19 million in revenues at fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. 2001, Changepoint is poised for continued growth and profitability. Total revenues increased by more than 50 percent compared to fiscal year end 2000. "The fifty percent growth was especially rewarding considering it was pure organic growth - achieved in tough economic times through new customer wins and reorders without the need for acquisitions," added Smith. - Signed largest full-function PSA implementation deal with NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers Corp. NCR selected Changepoint PSA software to manage its complete professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. business and IT department. - The company succeeded in launching its offering across Europe. Changepoint Europe now has more than 30 clients in nine EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. countries, including the United Kingdom, France, Germany, Spain and Ireland. Changepoint Europe contributed more than 15 percent of Changepoint's total revenues. - In addition to providing full multi-currency, multi-tax support, Changepoint launched Version 6.0, which delivers full support for English, French and German language versions, robust revenue recognition functionality, greater flexibility in resource management and powerful business analysis capabilities. "Changepoint is the only full-function PSA product that has been localized Translated into the spoken language of the country. See localization. for the European market, and our commitment and strategy has helped us take the lead in Europe in the past year in terms of market share and profile of customers," said Ayman Gabarin, Vice President, EMEA, Changepoint Corporation. - The company expanded its mobile offering in response to growing market and customer trends towards mobility solutions. Changepoint launched the Changepoint Palm(TM) client and released a second-generation offline browser Software that copies all the pages of a selected Web site to the user's machine in order to review the material at a later date. Also called a "spidering program." See offline and offline reader. client to support the needs of the mobile knowledge workers within its customer base. - Changepoint continued to build its presence in the market through strategic channel partnerships with companies such as SOFTRAX Corporation, Aston Group, and Signature Systems, focusing on value-added or complimentary offerings for professional services organizations. Changepoint channel partners contributed approximately 10 percent to total revenues. About Changepoint Corporation Changepoint Corporation provides comprehensive Web-based business process automation solutions for corporate IT departments and IT professional services organizations to manage projects, people and budgets effectively. IT services organizations use Changepoint to automate their internal business processes, source and procure To cause something to happen; to find and obtain something or someone. Procure refers to commencing a proceeding; bringing about a result; persuading, inducing, or causing a person to do a particular act; obtaining possession or control over an item; or making a person valued resources, manage contractors and collaborate with customers and partners. By integrating the critical processes of their services supply chain and all the people involved in delivery of IT services, these organizations can realize greater operational efficiencies and maximize cost-effectiveness. Headquartered in Canada, Changepoint has offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , United Kingdom and France. For additional information, visit our web site at www.changepoint.com NOTE TO MEDIA AND ANALYSTS: All Changepoint news releases are available on the Internet, via the Changepoint Corporation Web site at http://www.changepoint.com. Screenshots are also available on Changepoint's Web site. Additional information on Changepoint can be accessed on-line, and by sending email to marketing@changepoint.com or calling 1-905-886-7000. |
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