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.