Rockville, MD – January 29, 2009 – Visual Mining, a leader in delivering visualization solutions that instantly transform data into actionable business information, today announced results for the fiscal year ended December 31, 2008. The Company realized its 32nd consecutive quarter of profitability in Q4 2008 - 8 years of continuous profitability. Visual Mining also reported that net earnings before taxes (EBT) increased ninety percent (90%) and business booked increased by over fifteen percent (15%), both as compared to the immediately preceding year.
Other highlights for the year include:
- Added or renewed relationships with approximately 300 customers, including IBM, OpSource, Wellpoint Health, EDS, Information Resources, Tangoe, Lombardi Software, and AT&T;
- Delivered major releases for both NetCharts® Pro and NetCharts® Applets, version 6.0, and release version 5.5 for NetCharts® Server and NetCharts® Designer;
- Completed significant stock repurchase program of all issued and outstanding shares owned by its former employee Founders, an approximate thirty percent (30%) stake in the company;
- Ended the year with significantly positive net cashflow, increasing cash on hand by 25% over the prior year's ending balance, and the Company is debt free.
"We are proud of our track record of continued success and financial stability; it is a testament to the fact that we deliver on the concept of dashboarding and data visualization as the keys to flexible and actionable business intelligence," said Tristan Ziegler, CEO of Visual Mining. "Customers can better manage the challenges of this tough economy by leveraging NetCharts' business intelligence capabilities that enable better analysis and decision-making,which translate into improved operational results."
Visual Mining works closely with its customers to identify opportunities where their NetCharts deployments can help manage performance and analyze their data to get the most value out of their business intelligence initiatives. As the leader in advanced data visualization and performance dashboard solutions, Visual Mining is poised to continue its push to develop innovative and needed products to its growing customer base. AMR Research estimates that companies will have spent approximately $3B worldwide on performance dashboards and scorecards in 2008, which represents 23% of the business intelligence software market.1
About Visual Mining
Founded in 1996 and backed by Sigma Partners and Atlas Ventures, Rockville, Maryland-based Visual Mining provides visualization solutions that instantly transform data into actionable business information. Visual Mining's award-winning NetCharts products deliver comprehensive solutions for both developers and end users that are intuitive and effective. NetCharts for Developers enables the rapid development and deployment of advanced data visualizations that easily integrate with applications and data sources. NetCharts for Business Users provides dynamic, interactive dashboard solutions that enable users to analyze data, gain insight, and make better business decisions. Visual Mining's support and professional services teams compliment its products by providing the expertise to ensure success. Visual Mining: Visualize. Analyze. Capitalize.™
1. AMR Research, The Business Intelligence and Performance Management Spending Report 2008-2009: Inside the $57.1B Market (2008).
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