CDC Software Closes Two Seven Digit Deals in Third Quarter and Reports Increasing Sales Visibility
August 18 2010 - 10:27AM
Business Wire
CDC Software Corporation (NASDAQ: CDCS), a global provider of
hybrid enterprise software solutions and services, today announced
it has closed two seven digit on-premise and software-as-a-service
(SaaS) software deals so far this quarter and has seen Total
Contract Backlog (TCB) increase approximately 40 percent as of July
31, 2010, compared to June 30, 2009.
TCB is defined as the total amount of contracted unrecognized
SaaS revenue and the total amount of contracted unrecognized term
license or rental contracts, plus annualized maintenance figures
based on the rolling average of the previous 12 months. CDC
Software has secured TCB of approximately $140 million ($99 million
for maintenance and $41 million for SaaS) as of July 31, 2010,
compared to approximately $100 million as of June 30, 2009.
The seven digit deals include a food manufacturer’s purchase of
CDC Factory, an on-premise manufacturing operations management
solution, for its entire 16 plant network in the U.S. In addition,
the company closed a seven figure sale to an international Fortune
1000 company that bought CDC TradeBeam, a SaaS global trade
management solution, which was an up sell opportunity. Just
recently, CDC gomembers also closed on a six digit deal with one of
the largest non-profit associations in the U.S.
“We are very excited to start our third quarter with these
impressive deals for our on-premise and SaaS software solutions,”
said Bruce Cameron, president of CDC Software. “We’re pleased with
the momentum so far in our third quarter and on our expanding
second half 2010 sales pipeline, especially our cross-sell pipeline
which has grown more than 500 percent compared to the second half
of 2009. We believe our TCB numbers are a good sign of our revenue
visibility and we are very encouraged with these numbers and in our
performance for the third quarter.”
About CDC
Software
CDC Software (NASDAQ: CDCS), The Customer-Driven Company™, is a
hybrid enterprise software provider of on-premise and cloud
deployments. Leveraging a service-oriented architecture (SOA), CDC
Software offers multiple delivery options for their solutions
including on-premise, hosted, cloud-based Software as a Service
(SaaS) or blended-hybrid deployment offerings. CDC Software’s
solutions include enterprise resource planning (ERP), manufacturing
operations management, enterprise manufacturing intelligence,
supply chain management (demand management, order management and
warehouse and transportation management), global trade management,
e-Commerce, human capital management, customer relationship
management (CRM), complaint management and aged care solutions.
CDC Software’s recent acquisitions are part of its “acquire,
integrate, innovate and grow” strategy. Fueling the success of this
strategy is the company’s global scalable business and
technology infrastructure featuring multiple complementary
applications and services, domain expertise in vertical markets,
cost effective product engineering centers in India and China, a
highly collaborative and fast product development process utilizing
Agile methodologies, and a worldwide network of direct sales and
channel operations. This strategy has helped CDC Software deliver
innovative and industry-specific solutions to more than 8,000
customers worldwide within the manufacturing, distribution,
transportation, retail, government, real estate, financial
services, health care, and not-for-profit industries. For more
information, please visit www.cdcsoftware.com.
About CDC Corporation
The CDC family of companies includes CDC Software (NASDAQ: CDCS)
focused on enterprise software applications and services, CDC
Global Services focused on IT consulting services, and outsourced
R&D and application development, CDC Games focused on online
games, and China.com, Inc. (HKGEM:8006) focused on portals for the
greater China markets. For more information about CDC Corporation
(NASDAQ: CHINA), please visit www.cdccorporation.net.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, including statements relating to, among other
things, our expectations regarding momentum in our sales pipeline,
our beliefs regarding revenue visibility and TCB, our beliefs and
expectations regarding performance for the remainder of the current
period and any future periods, and other statements which are not
historic fact. These statements are based on management's current
expectations and are subject to risks and uncertainties and changes
in circumstances. There are important factors that could cause
actual results to differ materially from those anticipated in the
forward-looking statements, including the following: (a) the
ability to realize strategic objectives by taking advantage of
market opportunities in targeted geographic markets; (b) the
ability to make changes in business strategy, development plans and
product offerings to respond to the needs of current, new and
potential customers, suppliers and strategic partners; (c) the
ability to integrate operations or new acquisitions in accordance
with the company's and its subsidiaries’ business strategies; (d)
the effects of restructurings and rationalization of operations;
(e) the ability to address technological changes and developments
including the development and enhancement of products; (f) the
ability to develop and market successful products and services; (g)
the entry of new competitors and their technological advances; (h)
the need to develop, integrate and deploy products and services
that meet customer's requirements; (i) the possibility of
development or deployment difficulties or delays; (j) the
dependence on customer satisfaction with the company's and its
subsidiaries’ products and services; (k) continued commitment to
the deployment of the company’s and its subsidiaries’ products and
services, including enterprise software solutions; (l) risks
involved in developing software solutions and integrating them with
third-party software and services; (m) the continued ability of the
company's enterprise software solutions to address client-specific
requirements; and (n) demand for, and market acceptance of, new and
existing enterprise software and services and the positioning of
the company's solutions. Further information on risks or other
factors that could cause results to differ is detailed in our
filings or submissions with the United States Securities and
Exchange Commission, including our Annual Report on Form 20-F for
the year ended December 31, 2009 filed with the SEC on June 2,
2010, and those of our ultimate parent company, CDC Corporation.
All forward-looking statements included in this press release are
based upon information available to management as of the date of
the press release, and you are cautioned not to place undue
reliance on any forward looking statements which speak only as of
the date of this press release. The company assumes no obligation
to update or alter the forward looking statements whether as a
result of new information, future events or otherwise. Historical
results are not indicative of future performance.
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