OutStart, the leading provider of eKnowledge software solutions for learning and knowledge-sharing, today announced its continued business momentum with a strong third quarter. Over this period, OutStart achieved its third consecutive quarter of positive cash flow, its 2nd straight quarter of operating profits, and its 15th consecutive quarter of year over year revenue growth.
“The ultimate success of OutStart, comes from that of our customers. We truly appreciate their confidence as they continue turning to us for help in driving their learning and eknowledge initiatives,” said Massood Zarrabian, CEO and President of OutStart. “OutStart is dedicated to providing industry leading solutions and a financially strong organization that is positioned for long-term growth and stability.”
Highlights for Q2 2006 include:
- Second consecutive quarter of profitability.
- Third consecutive quarter of positive cash flow.
- 15th consecutive quarter of year over year revenue growth.
- Entered into a strategic alliance with eVergance, which became a service partner providing strategic consulting and implementation services for OutStart eKnowledge solution for customers and prospects.
- Expanded presence in Benelux through a partnership with U&I Learning. The partnership was created in response to a sharp increase in demand for learning and knowledge solutions in the Benelux region. U&I Learning has over 10 years’ experience implementing some of the largest eLearning projects in Benelux.
- OutStart Evolution LCMS was named a “Trend-Setting Product of 2006” by KMWorld Magazine. The product was recognized for its robust, yet easy-to-use, feature set that enables customers to develop, manage, assemble and deliver content for their learning and training needs.
- Announced Evolution LCMS support for PENS (Package Exchange Notification Services), allowing users to automatically transport AICC or SCORM content from Evolution LCMS to 3rd party LMS systems that also support the PENS standard. Additionally, announced that Evolution LCMS could serve as a target allowing AICC and SCORM content created in any 3rd-party tool to be automatically published to Evolution LCMS
“The past quarter marked yet another important milestone for our organization,” said Dan Kossmann, OutStart’s Chief Financial Officer. “With consistent revenue growth, continued profitability and positive cash flow, we can add strong financial health to our list of competitive differentiators. Our financial strength also allows us to capitalize on the emerging eKnowledge market. We are very enthusiastic about the next twelve months and beyond.”
About OutStart
OutStart software powers formal and on-demand learning, knowledge sharing and community/expert collaboration solutions that enable knowledge workers – employees, partners, and customers – to perform their roles far more efficiently and effectively. Customers like Empire BlueCross BlueShield, Steelcase, the U.S. Navy, Verizon and AgustaWestland rely on OutStart to increase individual and organizational performance, improve knowledge transfer and lower operating costs. Headquartered in Boston, Mass., OutStart has offices throughout the US and Europe and can be found on the Web at www.outstart.com.
