San Jose, CA, October 21, 2014 — Objectivity, Inc., announced today that it achieved another milestone in the history of the company by posting record Q1 revenues and profits for its quarter ending September 30, 2014. The company posted a 40% profit margin, reflecting strong Q1 revenue growth, as well as excellent cost management.
Objectivity CEO, Jay Jarrell states, “It is especially significant that Objectivity was able to achieve these positive results after recording strong revenues in Q4 of FY14. With the current momentum, I feel comfortable we will meet our financial objectives for FY15. A highlight for the company in Q1 was the addition of several strong technical resources in Silicon Valley, while maintaining discipline with respect to our cash flows.”
“This is a positive start to our fiscal year, reflecting a continued commitment to our flagship product Objectivity/DB, and increasing our working capital year-over-year by 109%. In addition, deferred revenue, aided by another quarter of maintenance and support renewals exceeding 90%, increased by 86% over last year”, says Gary Lewis, CFO.
Jarrell added that he expects to see the volume of new business increase in FY15. “New business will be driven by the acceptance of our massively scalable and distributed InfiniteGraph graph database product, and the continued new adoption of our flagship product Objectivity/DB.”
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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