Entering its fourth year of accelerating growth, Tidal Software, a leading provider of application scheduling and performance management software, today announced record results for its first quarter of fiscal 2007 ending September 30, 2006. New license revenue was up 50% and total revenue was up 33% compared to the fiscal first quarter of the previous year.
In other highlights, revenue for professional services increased 21% compared to the same period last year. Profitability and cash flow continued up from plan, ahead of company expectations and positioning the company to easily continue its expansion plans for FY '07.
Other performance highlights for the quarter included continued addition of new customers across diverse sectors and regions including commercial printing solutions leader Goss International, dental health plan provider Delta Dental, defense and aerospace leader Lockheed Martin, and communications leader Verizon Wireless. Public sector uptake was also strong and the company added the New York State Department of Transportation and the State of Michigan to its customer roster. The company also closed significant business with existing customers including HP and T-Mobile as both moved to expand their use of Tidal's growing portfolio of products.
"We continue to execute ahead of the market. Our ability to simplify IT operations through our capabilities to manage the processes and performance of complex, enterprise wide applications creates value for a wide range of customers," said Flint Brenton, CEO and President of Tidal Software. "Regardless of the operational or performance challenge a customer is facing today, our vision to bring their enterprise operations into alignment with the business as an integrated part of the business process is differentiating our offering and driving our solution into the market."
According to Brenton, the company is continuing to execute on its plan to expand its product portfolio and world-wide operations. During Q1, the company continued to build out its application performance management capabilities through integration of its enterprise application and SOA performance products. This potent combination will help customers tackle the challenges of operating composite applications -- applications that combine the capabilities of packaged applications with custom Java and .NET code through SOA and web services architectures. As a result, the company expects to demonstrate a series of new capabilities for application performance analysis of composite and custom applications throughout the course of the fiscal year. The company continues to build its world-wide operations, further expanding its international team of sales and services (see recent announcement "Tidal expands operations through key appointments.").
About Tidal Software
Tidal Software is a leading provider of advanced application scheduling and performance management software that radically simplify IT operations by automating performance and process management. Tidal provides a unique comprehensive management solution that enables IT organizations to maximize the automation, visibility, and control they have in the operation of their systems, ultimately making applications such as SAP®, PeopleSoft®, and Oracle E-business Suite, as well as composite solutions consisting of packaged applications and custom SOA-based components more efficient, productive, reliable, and secure, enabling them to return greater business value. Tidal has increased the efficiency of advanced datacenters for global enterprises such as General Mills, HP, ING, Microsoft, T-Mobile, and Warner Brothers. The privately held company is venture-funded by Kleiner Perkins Caufield & Byers, Novus Ventures, Panorama Capital, and VantagePoint Venture Partners. For more information, contact Tidal Software at (650) 475-4600 or visit the company's web site at www.tidalsoftware.com.
Tidal Software Logo, Tidal Enterprise Scheduler, Tidal Horizon, Tidal Intersperse and Expert-in-a-Box are trademarks of Tidal Software, Inc. All other trademarks are those of their respective owners.