OutStart, the leading provider of eKnowledge software solutions for learning and knowledge-sharing, today announced results for 2007. The company was profitable for the second consecutive year, achieved more than $2 million in EBIDTA, and reported healthy positive cash flow in its fiscal year that ended Dec. 31, 2007. OutStart products were well received in 2007. Major orders came from new and existing customers, ranging from numerous small and medium size businesses to some of the worlds leading brands, including: McDonalds, Nortel, Yahoo!, EDS, Bill & Melinda Gates Foundation, NorthGate HR, British Telecom, MidFirst Bank, CVS Caremark, UAL Corporation, Toshiba, Standard Bank of South Africa, and XM Satellite Radio. We are extremely thankful to our customers. Only through their commitment to and success with our solutions can OutStart be successful, and 2007 was truly an outstanding year, said Massood Zarrabian, CEO and president of OutStart. Our customers successes along with OutStarts financial strength, new strategic partnerships, expanded global footprint, and innovative solutions all enable us to further grow the business and serve as an even stronger partner to our customers in 2008. Year end highlights include: * Seven consecutive quarters and two consecutive years of profitability along with consistent positive cash flow.
* $ 2 million in EBITDA (earnings before interest, taxes, depreciation and amortization)
* Expanded international presence by creating OutStart GmbH in Germany.
* Recognized as a Leader and Out-performer in Bersin & Associates LMS Customer Satisfaction Study.
* Recognized by Elearnity as Significant Vendor in European LCMS Market.
* Launched two SaaS solutions – OutStart SellingEdge.com and OutStart TrainingEdge.com
* Signed technology partnership and reseller agreement with Intrepid Learning Solutions
* Broadened development partnership with Avalon Consulting
* Selected by Meridian, a leading LMS vendor, to expand the breadth and depth of LCMS functionality in their Learning Suite
* Demonstrated strong support for government standards through aggressive, early support for SCORM 2004 third edition and the ADL Registry.
* OutStart Evolution LCMS received Training Magazines Technology in Action Award.
* Global government agency awarded Training Magazines Technology in Action Award for its use of Participate.
* OutStart customer NSTA won Training Magazines Technology in Action Award and Bersin and Associates Learning Leader Award for 2007.
“2007 was another excellent year for OutStart, said Rob Lubash, OutStarts vice president of finance. We continued the momentum of 2006 with strong, consistent profitability and positive cash flow. This is the kind of financial strength that customers want to feel secure as they enter into a long-term partnership with a vendor. We look forward to continuing on this trajectory in 2008 delivering the solutions that our customers depend upon and managing our company in a way that ensures long term success. 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. AgustaWestland, Autodesk, British Telecom, CVS Caremark, the US Navy, Verizon Wireless and others rely on OutStart to increase individual and organizational performance, improve knowledge transfer and lower operating costs. Located in Boston, Mass., OutStart has offices throughout the U.S. and Europe and can be found on the web at www.outstart.com
OutStart Reports Results for 2007
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