Objectivity Reports First Quarter Profits up 29 Percent; Growth and Adoption in the Expanding Security and Intelligence Markets Credited.SUNNYVALE, Calif. -- As government adoption rates accelerate for its leading high performance database for real-time knowledge-based management solutions, Objectivity, Inc., today announced results for the quarter ended September 30, 2004, reporting an increase in net income of 29 percent on an increase in revenue of 30 percent compared to the same period in 2003. The company continues to strengthen its financial position with cash, cash equivalent and short-term investment balances increasing 16 percent and working capital (current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. less current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. ) increasing 29 percent as compared to the prior three month period ended June 30, 2004. "We have seen increased government business as a result of our strengthened relationships with leading prime contractors, key channel partners and our government customers," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jay Jarrell 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 Objectivity. Government Market Success The company attributes its continued success to the growth and adoption from the expanding security and intelligence markets that benefit significantly from Objectivity/DB. Objectivity/DB is a distributed, real-time database that enables its government agency customers to use Objectivity/DB as an engine for gaining knowledge from multiple data sources. Many of Objectivity's government customers are performing data fusion Data fusion, is generally defined as the use of techniques that combine data from multiple sources and gather that information in order to achieve inferences, which will be more efficient than if they were achieved by means of a single source. from geospatial Geospatial is a term widely used to describe the combination of spatial software and analytical methods with terrestrial or geographic datasets. The term is often used in conjunction with geographic information systems and geomatics. and sensor A device that measures or detects a real-world condition, such as motion, heat or light and converts the condition into an analog or digital representation. An optical sensor detects the intensity or brightness of light, or the intensity of red, green and blue for color systems. data, others are storing and correlating vast amounts of disparate information such as text, images, video and voice for investigation or security and intelligence applications. To increase business from our government markets, Objectivity has built strategic alliances and partnerships in addition to signing new government resellers. Furthermore, Objectivity has strengthened relationships with leading prime contractors and the government customer base. "We anticipate increasing momentum in the government sector as our government agency customers team to solve their common security challenges," adds Jarrell. "The Objectivity solution is gaining favor as the unique, high-end data repository See repository. for real-time, knowledge-based and data fusion applications. We see domestic and ally government agencies collaborating on their respective security and intelligence needs using Objectivity/DB. Additionally, we're also experiencing increased revenues from our traditional markets worldwide." "By offering the industry's best object-oriented resources combined with our unique high-performance database and strong partners, we continue to be the clear choice for complex high-end applications with real-time requirements," according to Leon Guzenda, chief technology officer for Objectivity. About Objectivity, Inc. Objectivity, Inc. is the leading provider of databases for real-time knowledge-based management solutions. 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. , Objectivity/DB, manages and analyzes complex information and relationships as well as very large volumes of data for mission-critical, real-time applications. Objectivity/DB enables leading telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. infrastructure providers to deliver faster more reliable services, government agencies to develop real-time knowledge-based and data fusion applications, and the most prominent scientific and process control companies to analyze very large volumes of information or bring higher quality products to market faster. Objectivity, Inc. is headquartered in Sunnyvale, Calif., USA. For more information, contact the company by sending e-mail to info@objectivity.com, visiting http://www.objectivity.com or calling 408-992-7100. Note to editors: All product names contained herein remain the trademarks or registered trademarks of their respective companies. |
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