Day Software Reports Interim Q3 2008 Results
Mere days before the long-anticipated CQ5 release, Day presents interim financial results for Q3 2008. The very Web 2.0-esque CQ5 is currently scheduled to be generally available on November 17. We will tell you more about CQ5 next week (downloading the software for evaluation as we speak). In the meantime, let’s count Day’s Swiss francs. The company reports increased revenue and presses ahead with market expansion, mainly in Northern Europe. Overall revenue for the first nine months of 2008 increased by 9% to CHF 20.0 million compared to CHF 18.3 million in the same period last year. Overall revenue increased by 16% compared with the second quarter of 2008. Revenue from licenses for the nine months until September 30, 2008, amounted to CHF 7.8 million compared to CHF 6.7 million for the same period last year. Losses were reduced to CHF 524,000 compared to the previous quarter. The technical efforts poured into CQ5 were a cost factor. The cash reserves increased to CHF 16.2 million. Day’s senior management welcomed new members, including Richard Francis as new CFO and Kevin Cochrane as new CMO. Not enough good news? How about Gartner placing Day in the Magic Quadrant for Enterprise CMS as a visionary? While everything on Day's side seems to be quite optimistic at the moment, we will continue to watch the company and report the news to you.