Results release for Q2

Gets published this morning.

Highlights are:

86 percent increase in bookings
130 percent increase in recurring revenue
Record number of “new logos” – 41 in the quarter

Some things not in the release are:

Both Indicative and NimBUS revenue ahead of our plan
We made these numbers despite not have a US VP Sales in place (announcement on this soon)
Multiple new contracts with several Fortune 500 companies – including a Fortune 250 insurance company that will now be using Nimsoft as its total enterprise monitoring solution
Released the first integrated piece of Indicative and NimBUS – webinars this week to our customers to show this
Monitoring of VMWare environments is included in almost 90% of all new contracts. Significant order from an investment bank to monitor their VMWare infrastructure

We also hired a country manager for Germany during the quarter, a VP Marketing, VP Strategy and a VP Business Development (not sure we’ve announced all of these yet).

We continue to perform competitive replacements in many situations with HP probably being top of the list but also NetIQ occurring pretty often. Not too sure, but it feels as though Attachmate have really scaled back the investment in support and development for the NetIQ products.

And finally, we don’t win them all. We had a competitive loss at the end of the quarter that hurt. We had won the technical recommendation, had the best overall “value”, offered the best support but… of our large competitors managed to convince the customer that if they bought multiple products all from them, that the integration would be better.

Funny how some customers still believe that. What we clearly did not do a good job of is letting the customer understand that we must integrate with many other platforms because our business relies on it – therefore our integration capabilities will be better than our competitors.

But…it’s true that you cannot win them all and we are very very proud of our competitive win rate which is through the roof.

86 percent growth in bookings in this economy!

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