January 22, 2002
OpenAir Finishes 2001 with Another Record Quarter
Grows 2001 annual revenue to approximately four times 2000
Boston, MA (January 22, 2002) OpenAir, provider of the complete
web-native professional services automation (PSA) solution, today reported
fourth quarter results for the period ending December 31, 2001.
In the fourth quarter of 2001, OpenAir achieved its eleventh consecutive
quarter of revenue growth, increasing revenues by over 28% versus the prior
quarter. Fourth quarter revenue gains were driven by increases in monthly
software subscription fees from new customers, which included Cablevision
Systems Corporation (NYSE: CVC), Niteo Partners subsidiary of NEC, Axia
NetMedia Corporation, Valicert, Inc., Bristlecone, Inc., and eMind, as well as
several mid-market companies from a range of industry segments.
"It was extremely gratifying to finish the year on such a positive note,
despite the economic slowdown in the fourth quarter. We've found that as
organizations scrutinize IT investments more closely and become more demanding
about the return they require, our product and our subscription-based pricing
model become increasingly appealing," asserted CEO Morris Panner. Echoing
Panner's view, John Longo, VP Consulting Services for ValiCert,
explained, "OpenAir exceeded our expectations in all areas. It improved the
efficiency of our organization in the first week of deployment. This is a
great ROI for us."
Other highlights for Q4 '01:
OpenAir received the highest marks for "Overall Solution Satisfaction,"
scalability and several other categories in Aberdeen Group's comprehensive
survey of PSA customers. (For more information on the report, contact Aberdeen
at (800) 577-7891, or email@example.com.)
OpenAir was showcased in the Summit Strategies December 2001 report,
"Just Say No: Customers Ditch Traditional Applications for Web Services", as
an example of a web-native software solution that is beating out traditional
client/server software solutions. (For more information on this report,
contact Billie Farmer at BFarmer@summitstrat.com.)
Supporting its philosophy of rapid release cycles and intense customer
focus, OpenAir completed over 20 product updates to incorporate
customer-requested functionality throughout the PSA solution.
OpenAir deployed Workspaces, its new enterprise knowledge management
solution, to several dozen new and existing customers.
OpenAir is the Web-native professional services automation solution that
helps organizations improve operational efficiencies and gain insights into
key management metrics. OpenAir customers increase profits by capturing
additional billable hours, increasing employee utilization, streamlining
project management, accelerating revenue, enhancing collaboration, improving
revenue recognition and project accounting, and sharing knowledge and best
practices throughout the organization. OpenAir has helped professionals in
over 500 companies across six continents increase profits through its
subscription-based solution. For additional information, visit www.openair.com.