PHILADELPHIA, March 11 /PRNewswire/ -- Primavera Systems, Inc., today released details of its record-breaking 2007 fiscal year (ended Dec. 31, 2007), in which the company capped 24 years of consistent revenue growth. Total revenue for 2007 increased by 43 percent to $176 million.
Primavera's growth in 2007 was primarily driven by its unique ability to deliver industry-focused solutions that meet customer demand for end-to-end project, program and portfolio management. In recent years, organizations have increasingly adopted company-wide, standardized systems for project, program, resource and portfolio management. Primavera's integrated software suite is the industry's only solution that covers the entire project lifecycle, from prioritization, to program and portfolio management, to risk management and execution.
Customers who last year adopted Primavera as an enterprise-wide solution include:
-- American Electric Power
-- China Vanke Co., Ltd.
-- Dow Chemical
-- Duke Energy
-- Hill International, Inc.
-- MWH Global, Inc.
-- Southern Company Services
-- SunTrust Banks, Inc.
-- Washington State Department of Transportation
Primavera's exceptional 2007 results extended beyond surpassing its financial goals. Analysts, for example, noted the effectiveness of Primavera's solutions. Primavera was placed in the Leader's Quadrant in the "2007 Gartner IT Project Portfolio Management Magic Quadrant(TM)," and was also named a leader in Enterprise Project Portfolio Management (PPM) in "The Forrester Wave(TM): Project Portfolio Management Tools, Q4 2007." In addition, Primavera achieved certification for the fifth consecutive year under the highly respected Service Capability & Performance (SCP) Support Standard, which evaluates the efficacy of customer support.
In addition, 2007 marked the successful integration of two companies that Primavera acquired in December 2006: ProSight, Inc., a portfolio analysis software company, and Pertmaster, Ltd., a risk analysis and mitigation software company.
"Primavera's close relationship with our customers keeps us acutely aware of the challenges that today's project-driven organizations expect to face in the future," said Joel Koppelman, Primavera's CEO. "Our commitment to their success drives us to continue expanding the impact of our suite of solutions to address their growing needs which will prove key to our ability to extend our market leadership in the years ahead."
"For Primavera, 2007 was a pivotal year in which the company had to execute on a number of fronts simultaneously to succeed," said Mitchell Codkind, Primavera's CFO. "We successfully integrated two acquisitions while continuing to enhance our entire product line with new releases -- all the while delivering to our customers the same world-class level of support and service for which we are known. With this firm foundation in place, Primavera is well positioned to surpass last year's revenue, profits and customer expectations once again in 2008."
About Primavera
Primavera is a software company who provides business solutions for a project-driven world. The company helps organizations identify which projects are most important, and makes it easy for people to work collaboratively on those projects and deliver them successfully. Primavera solutions are industry-specific and highly scalable, with the power to support global enterprises. Primavera solutions have ensured the success of projects collectively worth more than $6 trillion, including the management of IT projects that span the globe, the complex manufacturing of high tech products, construction of the world's tallest buildings, ongoing multi-billion dollar oil discovery projects, and space exploration. For more information, visit http://www.primavera.com/ or call +1.800.423.0245.
Primavera and the Primavera sundial logo are trademarks of Primavera Technologies, Inc. All other trademarks and service marks mentioned herein are the property of their respective owners.
For more information, contact:
Stacey Rodemer
Primavera Systems, Inc.
610-949-6905
srodemer@primavera.com
http://www.primavera.com/
Jeff Miller
Davies Murphy Group
541-207-3461
jmiller@daviesmurphy.com
http://www.daviesmurphy.com/
Primavera Systems, Inc.
