Spinnaker Support Achieves Record Setting 1st Half Revenue Results and Strong Sales Growth

Revenues increased 44% YTD 2012 versus YTD 2011.  Sales bookings increased 48%

DENVER, July 31st, 2012 – Spinnaker Support, the global market leader of third-party maintenance, co-sourcing, and consulting services for enterprise software, including Oracle Corporation’s (NASDAQ: ORCL) JD Edwards software and SAP AG (NYSE:SAP) software, today reported record results for its first half financial period ending June 30, 2012.

The Company reported that it achieved record revenue and record new business sales growth for the first and second quarters of 2012. The strong performance was further enhanced by exceptional customer renewal results, as well as the acquisition of Verystec, a leading provider of JD Edwards third-party maintenance. Spinnaker Support’s sustained quarter-over-quarter and year-over-year growth is a direct result of its market leadership position in the third-party support industry and its unique ability to meet the increasing global demand for value-driven enterprise software support solutions including software maintenance, application and technical support, and consulting which maximize return on existing system investments.

Spinnaker Support closed client transactions in its JD Edwards and SAP product lines across the Americas, EMEA and Asia-Pacific, and delivered more than a 55% percent increase on a year-over-year basis.  First half revenue exceeded company projections and the second half is expected to yield similar results.

Other Notable Achievements:

In addition to its strong financial performance, Spinnaker Support had many other notable achievements in the first half of 2012 which position the company for continued global growth throughout the year:

  • Launched Spinnaker Support’s third-party maintenance solution for SAP ERP applications
  • Acquired new customers including several of the largest single transactions in Company history
  • Expanded investments in sales, marketing, and operations in the Americas, EMEA, and Asia-Pacific
  • Maintained financial independence and self-funded growth capital
  • Celebrated 10 year anniversary of delivering business solutions to its global client base

“I am proud that Spinnaker Support continually delivers value to an increasing number of JD Edwards and SAP communities,” said Matt Stava.  “Our growth in the marketplace further illustrates the value of having a one-stop shop for third-party maintenance, co-sourcing, and consulting services.  This has become a clear differentiator for us and one that customers find compelling in making their support provider selection.”

Sales bookings are based on non-cancellable contracted revenues, not based on projected future renewal transactions.

About Spinnaker Support

Spinnaker Support, the global market leader for JD Edwards and SAP third-party maintenance, co-sourcing and consulting services, helps companies maximize their ERP software investments. Whether companies are planning to replace their high-cost maintenance provider or are seeking supplemental maintenance support for their ERP applications, Spinnaker Support has a solution to fit their needs. More than 160 clients worldwide have chosen Spinnaker Support as their provider of choice. Spinnaker Support services are available across the globe via offices located in Denver, Singapore and London.

Spinnaker Support Selected as Finalist for Two UKOUG Partner Awards

Exceptional client-based services recognized by Oracle user community

DENVER, July 25, 2012 –  Spinnaker Support is pleased to announce that it has been selected as a finalist for the JD Edwards Partner of the Year Award and the Managed Services (Outsourcing and Operations) Partner of the Year Award.

The UK Oracle User Group announced the finalists for this year’s Partner of the Year Awards earlier this month. The group recognizes Oracle suppliers in a variety of service disciplines including awards such as: E-Business Suite, Public Sector and Innovation Partner of the Year.

The finalists for the Partner of the Year Awards were selected following an initial round of judging from a pool of 132 entries.  The adjudicators, all end users of Oracle, narrowed the list down to 46 companies   that will compete for these prestigious awards that span nineteen categories.  Each category has up to six Partners, with the winners being announced at a ceremony in October.

“I am excited that Spinnaker Support has the opportunity to win not just one partner award, but two,” commented Matt Stava, managing principal of Spinnaker Support.  “Whether we are bestowed with an award or not, I am honored that we have been recognized by the JD Edwards and Oracle communities as a market leader delivering services that help our clients save money and work more efficiently. “

To vote, companies can visit www.registrationline.org.uk/pya/voter.asp .  Voting is open until September 10, 2012 is for customers and end-users only.

About Spinnaker Support

Spinnaker Support, the global market leader for JD Edwards and SAP third-party maintenance, co-sourcing and consulting services, helps companies maximize their ERP software investments. Whether companies are planning to replace their high-cost maintenance provider or are seeking supplemental maintenance support for their ERP applications, Spinnaker Support has a solution to fit their needs. More than 160 clients worldwide have chosen Spinnaker Support as their provider of choice. Spinnaker Support services are available across the globe via offices located in Denver, Singapore and London.