Concerto Software, a leading provider of contact centre solutions, today announced 2004 fourth quarter and full year financial results for the period ended 31 December 2004.
For the year ended 31 December 2004, Concerto Software achieved total revenue of $188.5 million, an increase of 75.7% over 2003 total revenue of $107.3 million. Product revenue for the year ended 31 December 2004 was $84.7 million, an increase of 76.4% over 2003 product revenue of $48 million.
Revenue for the fourth quarter of 2004 was $70 million, an increase of 147.3% compared to $28.3 million in fourth quarter revenue last year and an increase of 38.9% compared to $50.4 million in revenue for the third quarter of 2004. Product revenue for the fourth quarter was $30.1 million, an increase of 131% from the same period last year and a 32% increase from the third quarter of 2004. This marks the seventh consecutive quarter of revenue growth for Concerto Software.
Concerto Software continued to strengthen its balance sheet due to its strong fourth quarter results, generating $18.8 million of cash from operations and ended the year with a cash balance of $42.9 million.
"Concerto Software`s outstanding performance in 2004 can be attributed to a number of elements including strong organic global growth as evidenced by our 98 new global customer wins and additional substantial growth from our strategic acquisitions," said Jim Foy, president and CEO, Concerto Software.
"Concerto Software is executing on our strategic objectives and successfully integrating our people and products to bring even more choice, flexibility and unparalleled insight to the contact centre market."
Strategic acquisitions accelerate product positions
In 2004, Concerto Software acquired Melita International, CenterForce Technologies, Positive Software Systems and Rockwell FirstPoint Contact. As a result of these strategic acquisitions, Concerto Software provides two product sets - offering traditional voice or VOIP - to address the needs of both new and existing contact centres.
* Concerto Unified Edition - Based upon the EnsemblePro platform, it is the optimal solution for both greenfield environments and organisations requiring a unified inbound and outbound, multi-channel solution that can be easily integrated with other Concerto Software or third-party products.
* Concerto Enterprise Suite - Provides flexibility for companies looking to replace or incrementally add functionality to an existing contact centre based on their strategic customer contact requirements. This suite includes the Spectrum Automatic Call Distributor (ACD), Unison and Conversations Predictive Diallers, interactive voice response (IVR), and Internet capabilities including e-mail, chat and Web callback. Concerto introduced new major releases for each of these products in 2004. The suite also includes extended capabilities such as workforce management, analytics, enterprise campaign management (ECM), virtual inbound, agent scripting and inbound callback.
Industry recognition
In 2004, Concerto Software earned significant industry recognition for its product and service offerings. The highlights included:
* Gartner`s 2004 Magic Quadrants for Contact Centre Infrastructure for North America and EMEA positioned Concerto Software in the visionary quadrants. * Frost & Sullivan presented its Contact Centre Company of the Year Award to Concerto Software as part of its 2004 Excellence in Information and Communication Technology Awards. Concerto Software is the only company to achieve this honour in the contact centre industry two years in a row.
* Technology Marketing Corporation`s (TMC) Customer Inter@ction Solutions magazine named EnsemblePro a recipient of a 2004 CRM Excellence Award.
* Software Magazine`s list of the world`s foremost software and services providers, the Software 500 included Concerto Software in its customer relationship management (CRM) category.
* TMC`s TMC Labs division recognised Concerto Software`s FirstPoint Enterprise product leveraging Cisco CallManager with a 2004 Innovation Award.
* ContactCenterWorld.com`s 2004 Members` Choice Awards recognised Concerto Software for Best After Sales Support for the second consecutive year.
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Concerto Software is a leading provider of contact centre solutions that help companies better manage customer interactions via voice, e-mail, the Web and fax. With multiple strengths - including financial stability, talented people, innovative technology, more than 30 years of industry expertise and a singular focus on the contact centre - Concerto Software is a trusted partner to companies across the globe. Concerto Software is headquartered in Westford, Massachusetts, with operations across the Americas, Europe and Asia Pacific. For more information, visit www.concerto.com.
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