Perseus Development Corp. Announces Strong Results Driven by Demand for SurveySolutions Enterprise Software and Service
Reports Record Revenues and Profits Major New Contracts including MSN, The NBA and Concert
BRAINTREE, MA (January 15, 2001) - Perseus Development Corporation, a leading provider of web-based survey software and services that enables companies to optimize their customer relationships, measure employee satisfaction, improve web-site business integration and assess critical organizational needs, today announced record revenues up 126 percent from last year.
"Results were excellent across all areas of the business, led by strong revenue and customer growth," said Richard Nadler, President and CEO of Perseus. "We also continued to make great progress in executing our business model, maintaining high profit margins in excess of 10% for the year. Coupled with positive cash flows from operations we are continuing to reinvest in our technology and human resources. We continue to see momentum building for our SurveySolutions product suite, driven by the strong demand for SurveySolutions Enterprise Software and Services. We expect these positive trends to be reflected in continued high growth in revenues and profits throughout 2001."
The company recorded revenues from hundreds of new customers during the year including MSN, Pitney Bowes, Intel, Coca-Cola, Cincinnati Bell, and MetLife. The company also benefited from significant follow-on revenues from existing customers including large follow-on contracts with The NBA and Weather.com. The company currently has over 6,000 customers of its software and services. "We continue to generate close to 40% of our revenue from existing customers that are rolling out our software and services in additional sites, validating the tangible return on investment benefits of our solutions and strong customer satisfaction," added Nadler.
SurveySolutions Enterprise Service Introduced
During the year, Perseus introduced three new products; SurveySolutions Professional, SurveySolutions Enterprise Software, and SurveySolutions Enterprise Service. "The SurveySolutions family now provides a full complement of solutions for individual users, professional researchers, and the very large organization," said Jeffrey Henning, President of Perseus' Software Division. "Perseus is working with partners to create solutions that address today's changing business needs, including support for Palm devices and an integrated corporate ASP product," said Henning.
Perseus is leading the transition from web survey software to Enterprise Feedback Management (EFM) solutions that help organizations better understand their world. Organizations worldwide rely on Perseus solutions to better identify and meet employee, customer and partner needs, and increase profitability by creating loyal relationships. Perseus products enable business professionals to quickly and easily obtain, analyze, and manage sophisticated enterprise feedback using intuitive web-based software. Perseus SurveySolutions® is a recipient of PC Magazine's Editors' Choice award for web-survey software, and is used by over 22,000 customers worldwide including over twenty percent of the Fortune 100. Perseus is a 2003 and 2004 Inc. 500 company and Deloitte Technology Fast 500 company, and a four-time Deloitte Technology Fast 50 company. Visit perseus.com for more information.
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