OutStart, the leading provider of software solutions for learning and knowledge-sharing, today announced record results in the fourth quarter of 2005, capping an extremely successful year.
“The fourth quarter of 2005 confirms that OutStart’s eKnowledge strategy supported by our portfolio of learning and knowledge sharing products is leading the market, clearly reinforcing our dedication to providing the most functional, powerful solutions in the industry,” said Massood Zarrabian , president and CEO of OutStart. “The increasingly widespread acceptance of OutStart’s offerings can be attributed to its ability to link eKnowledge solutions to real business problems and in 2006 OutStart will continue to build on this principle.”
Highlights for 2005 include:
• Total customer orders for the fourth quarter of 2005 were up 25% over the same quarter last year, establishing a new OutStart record with total customer orders for the year increasing 19% over 2004. Growth was seen in major government organizations and Global 2000 companies spanning multiple vertical markets. These organizations include: Rubbermaid Commercial Products, Unilever, Avid Technologies, Volvo, U.S Navy, DirectTV and many more.
• OutStart’s revenue mix also changed substantially in 2005, as the company moved to a recurring revenue model. In 2005, approximately 2/3 of total customer orders were recurring in nature, compared with 1/3 for the year earlier. OutStart is a leader in providing flexible licensing options and this change is a result of more customers selecting OutStart’s subscription licensing and ASP offerings, which provide predictable revenues and greater financial stability.
• OutStart also is strongly positioned for 2006, with a backlog of deferred revenue. As of December 31, 2005, the backlog of revenue was 50 percent higher than for the corresponding date in 2004.
- Announced major enhanced to V2006 portfolio of products that deepened product functionality, tightened integration and expanded capabilities to support growing need for on-Demand Learning.
- OutStart Customers awarded major industry accolades
- U.S Navy received the Learning 2005 Pioneer Award at Elliot Masie’s Learning 2005 Conference for its ‘Revolution in Training’ program which utilizes OutStart Evolution LCMS.
- The Australian Department of Defense was given Computerworld’s 21st Century Achievement Award for its visionary use of technology for learning management, which includes OutStart Evolution.
- Recognized as a Visionary in Gartner’s 2005 Learning Management System Magic Quadrant.
- Acknowledged by Bersin and Associates for the impressive functionality and scalability of OutStart’s LCMS products and by Brandon-hall.com as a ‘Valuable Solution for Small and Medium Sized Enterprises.’
- First LCMS to support all 3 learning stages as defined by Bersin & Associates, setting new standards for the development, management and delivery of learning content.
- Increased Global presence through strategic partnerships.
- Expanded presence in Asia-Pacific through distribution partnership with MultiMedia Concepts Pty Ltd. in Australia, Tembusu Advantage Pte Ltd. in Singapore and Vital Learning Systems in Korea .
- Extended reach in EMEA by partnering with Denmark ‘s Key2Now and the UK ‘s New Wave Learning, Ltd, further building on its ever increasing reach in this region.
- Established strategic partnership with Vignette, to provide an on-Demand, next-generation learning platform worldwide.
- Announced reseller partnership with AugustaWestland, to provide training to Armed, Navy and Air Forces worldwide.
- Achieved SCORM 2004 Certification – One of the first in the industry to achieve certification status, OutStart is able to provide even greater value to its customers by enabling them to migrate legacy content to SCORM 2004.
- OutStart selected as an authorized vendor under the GoLearn IDIQ program by the U.S. Office of Personnel Management. As a GoLearn vendor, OutStart now readily delivers government and DoD agencies world-class software for creating, managing and delivering learning solutions.
“OutStart is entering 2006 in a very strong financial position,” according to Dan Kossmann, OutStart’s CFO. “OutStart has a large, blue chip customer base that continues to return for additional products and services and enjoys a solid reputation in the market as an innovator. A healthy balance sheet and a predictable business model are providing stability and sustainability. All of these factors, along with OutStart’s new product offerings and an improving market should lead to strong results again in 2006.”
