SilverPlatter posts 1995 earnings; Strong performance from SilverPlatter International.
Figures from SilverPlatter International N.V., show 1995 revenue at $60 million over last year's $42 million.
The increase in revenue is attributed to the strong performance of SilverPlatter's Electronic Reference Library (ERL) technology and increasing sales of its collection of high quality reference databases. Mid-year revenue figures for 1996 stand at $37.1 million, a 26% increase over the corresponding period for 1995.
"We are pleased with the growth of SilverPlatter. 1995 was a good year for the company and continued strong growth is anticipated in 1996," said Brian Earle, SilverPlatter's Chief Operating Officer.
SilverPlatter's strategy is to create a worldwide electronic reference library through partnership with publishers, customers, distributors and technology firms. SilverPlatter has used its expertise to create comprehensive libraries of reference information on CD-ROM and the Internet in conjunction with a wide range of information, technology and business partners.
The company has recently initiated a program that enables partners to license SilverPlatter technology to create their own ERL-compliant databases.
SilverPlatter US is developing partner publishing relationships in America, including H.W. Wilson Company and FOI (Freedom of Information) Services.
SilverPlatter and Micromedia Limited, in SilverPlatter's Canadian, Pacific Rim and Latin American zone, announced an agreement to distribute 10 Partner Published titles worldwide through SilverPlatter's Global Distributor Network. Micromedia has published a collection of Canadian databases on SilverPlatter. These databases now available through SilverPlatter include: Canadian Business and Current Affairs (CBCA) Fulltext, Canadian Business, Trade & Technology Fulltext, The Canadian Education Index, Canadian Research Index, Directory of Associations in Canada, Index to Canadian Legal Literature, Repere, TRANSCAT, WAVES, and World Bank of Licensable Technology.
"One of our keys to success is SilverPlatter's responsiveness to partners and customers," said Donna Lynn, President of SilverPlatter's US zone. "With break-through technology and communication, we can design and implement information solutions that work best for each customer."
To respond to new market opportunities SilverPlatter has also announced plans to open offices in Paris and Bologna to complement established offices in Amsterdam, Berlin, Boston, Hong Kong, London and Sydney.
Phoenix Fund Managers (PFM), the London-based private investment banking firm, has acquired a 11.5% stake in the company from former employees.
"SilverPlatter has achieved an excellent position in a very attractive market implementing its strategy of building its business through partnership..." said Martin Smith, Chairman of PFM. "We plan to contribute to this growth as a shareholder."
SilverPlatter provides electronic access to quality bibliographic and full-text databases using innovative technology via local, intranet and Internet access. SilverPlatter works collaboratively with publishers and data owners, library system vendors and distributors worldwide to make available the widest range of quality databases and greatest choice of access.
With these partners, SilverPlatter shares its Electronic Reference Library (ERL) Technology, so that it can be used as a common technological framework on which digital libraries can be created and interconnected to form a Worldwide Library.
CONTACT: Patricia Samson, 1-800-343-0064
or 1-617-769-2599, x189