OutStart, the leading provider of eKnowledge software solutions for learning and knowledge-sharing, today announced record results for 2006. The company has achieved double-digit revenue growth for the fifth consecutive year, and over the same time period, OutStart’s compound growth rate has been 49 percent. The company also achieved solid profitability and reported healthy positive cash flow in its fiscal year that ended on Dec. 31, 2006.
“We are pleased that the market and our customers continue to believe in and support OutStart and our products,” said Massood Zarrabian, CEO and president of OutStart. “In 2007 we will continue to focus on delivering new and innovative solutions that meet our customers’ needs, establishing more strategic partnerships, expanding our global footprint and growing all aspects of our business.”
Year end highlights include:
- Fifth consecutive double-digit revenue increase.
- Profitable and cash flow positive.
- EBITDA (Earnings before interest, taxes, depreciation and amortization) exceeded 10% of revenue
- More than doubled year-over-year ASP revenues.
- Expanded base of global and SMB customers
- Entered into strategic alliances and partnerships including: U&I Learning, Intrepid Learning System, NewWave Learning Ltd., eVergance, Matchett Group, and Allos
- Expanded European and Asia Pacific presence
- OutStart Evolution LCMS was named a “Trend-Setting Product of 2006” by KMWorld Magazine
- OutStart Participate was a recipient of Customer Inter@ction Solutions Product of the Year Award
- Outstart recognized in visionaries quadrant in the Gartner “Magic Quadrant for E-Learning Suites, 2006”
“We achieved many milestones in our business in 2006,” said Dan Kossmann, OutStart’s chief financial officer. “Most importantly, our financial strength increased substantially. We look to 2007 with the promise that our solutions will further exceed the expectation of our customers and help us reach another year of growth and prosperity.”
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.
