Objectivity Reports Record Profitability for Fourth Quarter and Fiscal Year 2004; Effective Cost Management and Success in National Security and Intelligence Markets Credited.SUNNYVALE Sunnyvale, city (1990 pop. 117,229), Santa Clara co., W Calif., near San Francisco; settled 1849, inc. 1912. A city in Silicon Valley, its many manufactures include semiconductors; machinery and instruments; electrical, electronic, and aerospace products; , Calif. -- With surging interest from the government sector, Objectivity, Inc., the leader in high-performance Adj. 1. high-performance - modified to give superior performance; "a high-performance car" superior - of high or superior quality or performance; "superior wisdom derived from experience"; "superior math students" databases for the management of complex information, today announced that the company reported record profitability for the quarter and fiscal year ended June 30, 2004. Net revenues for the quarter and fiscal year increased 127% and 43%, respectively, over the corresponding periods ended June 30, 2003. Net incomes for both the quarter and fiscal year were at the highest levels in Company history. Record levels of cash flows from operations were also achieved for both the quarter and year. "We exceeded our financial objectives for 2004 and have established a solid financial foundation to support future growth," said 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. Cost Management and Market Success The company attributes its success to careful attention to cost management and its focus on the emerging national security and intelligence markets that benefit significantly from Objectivity/DB. Objectivity/DB is a distributed, federated database A collection of databases that are treated as one entity and viewed through a single user interface. See EII, virtual database and federated. that enables its government agency customers with disparate legacy databases to share information to find the "needle in the haystack." Objectivity spent much of the year strengthening relationships with key prime contractors as well as building a strong network of government resellers. Objectivity markets Objectivity/DB to ISVs, OEMs and end-users for real-time processing Noun 1. real-time processing - data processing fast enough to keep up with an outside process real-time operation data processing - (computer science) a series of operations on data by a computer in order to retrieve or transform or classify information of complex data, document and process management, scientific computing computing - computer and complex defense and security applications. Objectivity's customers develop solutions built on Objectivity/DB for the government, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the infrastructure, manufacturing, scientific and IT markets. New Headquarters Objectivity moved into its new enhanced headquarters in Sunnyvale, CA, on March 1, 2004. The new Silicon Valley-based facilities are home to the sales, support, marketing, operations, finance, engineering, IT operations and product development functions for the company. The new headquarters facility enables Objectivity to better serve its government and commercial customer base. New Easy-to-Use Product Earlier this year, Objectivity delivered a new version of its 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 Version 8.0, downloadable for a free 30-day trial from Objectivity's web site (www.objectivity.com). Objectivity/DB 8.0 makes it easier to design, develop and deploy scalable, distributed, high-availability applications. This new version has made Objectivity/DB the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, for distributed, highly scalable, mission-critical applications. New Channels for Government and International Markets "Our continued success during these challenging economic times is a testimonial that our solution has crossed the chasm in the government sector," adds Jay Jarrell. "We attribute much of our success to our growth in the national security and intelligence areas. We have actively built partner relationships and sales channels to support the government market. Additionally, we're experiencing increased revenues from our traditional markets worldwide where we're also expanding our channel strategy." About Objectivity, Inc. Objectivity, Inc. is the leading provider of high-performance object databases that manage and analyze complex information and relationships as well as very large volumes of data for mission-critical, real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. applications. The company's flagship product, Objectivity/DB, enables leading telecommunications infrastructure providers to deliver faster more reliable services, government agencies to find the "needle in the haystack" in real-time, 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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