Objectivity, Inc. Reports Record Profits for Their First Nine Months of FY15.
San Jose, CA, April 21, 2015 — Objectivity, Inc., announced today that business continues to be robust as the company posted solid profits for the nine months ending March 31, 2015. Bookings were up considerably over the same period last year, contributing to strong revenue growth over the same period last year.
Objectivity CEO, Jay Jarrell states, “While I am very satisfied with the significant revenues achieved, I am even more pleased that our strong bookings led to record deferred revenue at March 31, 2015. We will clearly exceed our goals for FY15 and are well positioned for continued growth into FY16.”
“In addition to record deferred revenue, cash and accounts receivable are up appreciably from a year ago, leading to a significant increase in our working capital. Our strong balance sheet, which includes no outside bank or lease debt, will insure we have the funds available to execute our strategic plans for FY16”, says Gary Lewis, CFO.
Jarrell added that he expects to see further expansion of Objectivity’s customer base as new products are introduced in FY16. “We appear to be running on all cylinders, and we have an extremely talented employee base that is dedicated to taking our products and the company to the next level.”
Objectivity, Inc. is a pioneer in high-performance distributed database platforms that power mission-critical applications for the most demanding and complex data sources in the enterprise. Objectivity delivers organizational agility at scale by enabling our customers to enrich Big Data with Fast Data.
With a rich history serving Global 1000 customer and partners, Objectivity holds deep domain expertise in fusing vital information from massive data volumes to capture new revenue opportunities, drive competitive advantages and deliver better business value. Objectivity is privately held with headquarters in San Jose, California. Visit www.objectivity.com to learn more.
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