FatWire Gets a Huge Military Contract
Recession, what recession? Fatwire Software has announced record-breaking financial results for the first half of 2008, mostly on the back of increased sales for its licensed products. As we reported last month, Fatwire scored a tremendous coup in securing the Military.com contract, and other strong sales growth saw licensing revenue jump 75% from the first half of 2007, with total revenue up 66%. Most of the action came in the second quarter, where licensing revenues were 148% up on q2 2007, and total revenue up 93%. CEO Yogesh Gupta believes that a fundamental shift in customer focus is underway, and that FatWire is better placed than its rivals in the space to meet new customer demands: “As the web becomes an increasingly critical channel, organizations are replacing their legacy WCM systems with FatWire solutions for WEM that deliver the value they need to be successful on the web." Ah yes, WEM. Web Experience Management is what FatWire is calling its approach to Web Content Management these days, and the shift in focus is obvious. FatWire is trying to make things easier for administrators and website users, and empower them to do their job with a minimum of fuss. Empty marketing-speak or a genuinely different approach? Decide for yourself. Last month FatWire launched the FatWire Content Integration Platform and the beta release of the EMC Documentum connector. If its drive to integrate its Web CMS technology with Documentum and other Enterprise CMS platforms reaps dividends, the next earnings report may be even better. Visit Fatwire to see more. FatWire's reported figures for the first half of 2008 vs first half 2007: * 75% increase in license revenue (over 1st half 2007) * 66% growth in total revenue * 92% increase in professional services revenue * 137% increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)