While Vignette is struggling with its financial performance, Interwoven’s Q2 2008 results soar. Interwoven reported total revenues of US$ 63.2 million for the second quarter of 2008, an increase of 16% from the same time period last year. License revenue is up 11% totaling US$ 23.4 million versus Q2 2007. Support and professional services revenue increased 18%. Net profit soared 78% from Q2 2007 to Q2 2008.Partially accountable for such an impressive quarter are the new customers that will be using Interwoven: Bank of America, British Telecom, Chadbourne & Parke LLP, Delta Airlines, Discovery Communications, General Motors, LexisNexis, Liberty Mutual Group, McGraw-Hill and Panasonic to name a few. During Q2 2008, Interwoven added 106 new customers, bringing the total to more that 4,300 customers worldwide.
“Our second quarter performance - in which we delivered the largest top line revenues in our company’s history - is another strong proof point of our strategy and demonstrates our increasing momentum,” said Joe Cowan, CEO at Interwoven.
In this light, it comes as no surprise that Interwoven has entered the second major acquisition in less than a year. This time, it is an on-demand e-discovery provider - Discovery Mining Inc.
Interwoven continues to gain momentum, as Gartner in its recent WCM MarketScope gives Interwoven a "Strong Positive" rating. Only one other WCM vendor received this highly desirable rating. Seventeen vendors total were evaluated in this report.
Additionally, Interwoven keeps expanding its presence in the APAC region by securing several strategic customers in early July 2008: India-based J Sagar Associates, six leading Singaporean law firms and two of the largest firms in Malaysia.
Keep an eye on Interwoven; we are sure more interesting developments are on the way.