2005
Halogen Software Continues Momentum with Record Growth
Company experiences best quarter to date with more than 100% growth in year-over-year revenue and 51 new customer wins
OTTAWA, July 5, 2005 – Halogen Software Inc., the leading provider of Web-based employee performance management (EPM) software, today announced second quarter results showing 100% year-over-year growth in revenue, making this its seventh straight quarter with record results. With the signing of 51 new customers this quarter, the best quarter to date for the company, Halogen secures their place as vendor of choice for web-based EPM solutions.
Halogen Software also continues to gain significant market share. "We projected the EPM software market would demonstrate at least a 15 percent compound annual growth rate (CAGR) through 2008, although recent short term trends could point to rates as high as 20 to 25 percent growth" said James Holincheck, research director, Gartner Inc. Halogen's results of more than 100 percent year-over-year are appreciably outpacing these projections.
"The first half of this year has seen acceleration in our growth rate to more than 100 percent year-over-year versus 75 percent in 2004, as we continue to extend our market leadership position," said Paul Loucks, President, Halogen Software. "These results are significant not only because of the considerable number of new customer wins, but also because the growth is balanced revenue, based on wide-scale customer acceptance, not just one or two large deals. Customers, those new to web-based EPM solutions and also those migrating from other EPM software, obviously appreciate the ease-of-use and affordability of our highly adaptable solutions."
New customers for the quarter include First American Corporation, Fairfield County Bank Corp, Sharp Electronics of Canada, Georgia State Financing & Investment Commission, Carondelet Health, Websense, Inc., Digi International, Institute for Scientific Research, Inc., Federal Realty Investment Trust, Columbus Regional Healthcare, Republic Airways Holdings, Worldspan, L.P., California Healthcare Foundation, Paragon Development Systems, College of Southern Maryland, and many more.
Halogen's growth rate should be further enhanced by the recent release of eCompensation, an affordable, Web-based software system that automates the compensation management process and works seamlessly with Halogen's eAppraisal solution.
Halogen has also nearly doubled the number of employees since the second quarter of 2004, and plans to hire another 20 by year-end 2005 to keep pace with its revenue growth.
About Halogen Software
Halogen Software Inc. is a leading provider of employee performance management (EPM) solutions. Founded in 2001 as a subsidiary of a successful consulting company, Halogen offers powerful, easy-to-use, and affordable Web-based software that dramatically improves HR and line-manager productivity. The company's flagship product, Halogen eAppraisal™, automates and simplifies time-consuming employee performance appraisals. Halogen eAppraisal™ Healthcare, created specifically for the healthcare industry, helps to simplify the task of performing appraisals and meeting accreditation criteria. Halogen e360™ automates and simplifies formal 360-degree feedback procedures and offers sophisticated performance reporting. Their newest offering, Halogen eCompensation™ automates the entire compensation adjustment process including budget distribution and approval.
For more information on Halogen Software, visit: www.halogensoftware.com
| Media contact: |
| Donna Ronayne VP, Marketing & Business Development T: 613.744.2254 x 320 E: dronayne@halogensoftware.com |
