Day Software, a provider of global content management and content infrastructure software, recently announced the company's financial results for the first half of 2008. Overall, things are going well for the company, but there is still room for improvement.
Product Revenue Increases
Day Software is making revenue -- the company reported a 10% growth in total revenue compared to the same period in 2007. The first half years' revenues totaled CHF 13.24 million for 2008, compared to the CHF 11.99 million made last year.
For those interested in all the details:
* Product related revenues increased by 17% totaling CHF 10.2 million compared with CHF 8.7 million for the same period last year.
* Total license revenue grew 15% over the same period last year.
* During that same period, consulting services revenues decreased 7%.
* The company increased its gross profit by 15.3% to CHF 10.1 million, compared to CHF 8.7 million for the same period in the previous year, but did experience a decrease in pretax income.
"Despite all of the challenges the company faced in the first half of the year - preparing for major product launches in the second half - we managed to continue our revenue growth and add major new customers in all regions," said Erik Hansen, CEO of Day. "Based on this well-rounded product portfolio, we expect to see continued growth from both our direct distribution and our indirect channel in the second half of 2008."
The declining value of the US dollar has put a slight pinch on the company, but losses were primarily as a result of lower consulting services revenue.
Growing Interest Among Customers
Day Software has added a couple new customers to its list. In the media sector, Time Inc.—a Time Warner company—began doing business with Day Software. Time has an impressive establishment of over 120 magazines. The company has also snatched up New York University. More than 40,00 students are attending 14 schools and colleges at five major centers in Manhattan and in more than 25 countries around the world. And finally, Day Software added Premier Inn., one of the largest hotel chains in the UK.
Several more impressive companies have also became new customers of Day Software in 2008: Investec, City of Chicago, Messe Frankfurt, University of Phoneix, Allianz, Flagstar Bank, and Pacific Life.
Existing customers like K&H Bank, Sanova, Deutsche Post World Net, Edmunds.com, Nielsan, and Nessan also explored further investments in Day Software.
New Channel Partners Bring More Revenue
Channel customers including IMB/FileNet, Microsoft/FAST and Oracle are helping to generate revenue for Day Software. In addition, a new OEM agreement was signed in the first quarter with Exstream Software, a subsidiary of Hewlett Packard. These agreements helped the company to remain financially solid in the first half of 2008. Day Software, founded in 1993, offers clients a comprehensive, rapidly deployable framework to unify and manage all digital business data, systems, applications and processes through the web.
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