WALTHAM, Mass. - (Business Wire)
OATSystems today announced record Q4 2007 performance and enthusiastic market adoption of the company
’s packaged RFID-enabled solutions.
Q4 highlights include the following:
- License revenue set a new record with substantial quarter-over-quarter growth throughout the year.
- Utilization and billing rates were up significantly in services – further validating the maturing of the market and value of products and services delivered by the company.
- Maintenance renewal rates continue to be strong with more than 90% of customers renewing agreements – demonstrating continued commitment from OAT’s cornerstone customer base.
- OAT was selected for several new enterprise deployments in industrial manufacturing, retail and consumer products with its customer base now exceeding 100 companies worldwide.
“It is gratifying to see the strong market acceptance of OAT’s strategy and focus on packaged solutions,” said Michael George, OATSystems’ chief executive officer. “The new management team and most of the current sales force were brought on in early 2007 to accelerate the company’s migration to a greater focus on packaged applications and solutions for the industrial manufacturing, retail and consumer products sectors. OAT is poised to continue this trend with a strong pipeline of opportunities in 2008.”
The company’s emphasis on delivering packaged solutions enables industrial manufacturers, retailers and consumer product companies to optimize their operations with less risk, less cost and less time. This approach has generated key wins with prominent leaders in each segment, with many more in the pipeline.
While this was a breakout quarter for OAT’s asset tracking business, the company continues to grow its installed base and expand its retail business: OAT recently signed a sizable license and maintenance contract with a consumer packaged goods firm and also added a large department store chain to its customer base.
About OATSystems, Inc.
OATSystems, Inc. is the recognized RFID solution leader with software that empowers businesses to achieve competitive advantage and ROI from radio-frequency identification (RFID) enabled applications. As a pioneer in developing RFID technology, OAT has been setting the standards in RFID for over half a decade and is responsible for industry firsts that include the largest scale and largest scope of deployments, as well as the most innovative approaches to providing enterprise-wide RFID solutions. OAT’s multinational client base consists of over 100 customers in retail, CPG, consumer electronics, manufacturing, life sciences, aerospace and defense. OAT is headquartered in Waltham, MA, and has a development office in Bangalore and various direct sales offices and resellers around the globe. To learn more about the company’s latest developments, visit www.oatsystems.com.
For OATSystems
George Cohen Communications
George Cohen, 617-325-0011
george@gccpr.com
