EasyVista Continues To Deliver Strong Growth With Fiscal 2014 First Half Results
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The 2014 business strategy for EasyVista remains on-track for global revenues and the international investment plan as sales increase.
New York, July 31, 2014 - EasyVista Inc. (www.easyvista.com), a global leader in IT Service and Asset Management solutions, has posted its Q2 and consolidated fiscal first half 2014 results. Global revenues increased 35% year-on-year with a strong acceleration from SaaS and professional services.
Consolidated revenues for EasyVista Cloud solutions finished up 51% at first-half end and the SaaS backlog continued its upward trend, increased 35% compared to the same period last year. The Company’s backlog is now at a guaranteed income run-rate that increased planning for forthcoming fiscal periods can move on at a significantly higher pace.
EasyVista Cloud is well complemented by balanced recognized revenue from On-premise Licenses and Professional Services, being generated from increasingly favorable trading conditions globally. The Company’s core North American market continues to accelerate due to legacy churn and market need for agile service management solutions, increasing by 110% overall. The strong business base EasyVista has developed in North America, which has a healthy blend of on-premise and Cloud sales, has also contributed with increased Professional Services, up 53%, year-on-year.
“During this period EasyVista has expanded its customer portfolio of prestigious customers globally. In Europe we have Eurotunnel and are making progress in the VW Audi Group,’ remarked Andrew White, EVP and General Manager (Americas) at EasyVista. ‘In the United States, we have seen many contracts signed in Federal and Health sectors. The state of New Mexico joined the many Washington State agencies signed in the last few quarters and Mission Health, one of the 15 largest U.S. Health Organizations, is now a significant SaaS contract. Conditions are becoming increasingly favorable as sectors, usually conservative in troubled economic times, start to release budget for new investments and IT transition.”
Revenues for the first half of Fiscal ’14 are fully in-line with the Company’s strategy and the forecast is very positive for the remainder of the year. With a healthy SaaS backlog, EasyVista expects to exceed its targets for the next two fiscal years. Consequently the Company will provide a new growth plan for 5 years when it publishes its interim results on 16 September.
Sales in the second quarter remained consistent and within the expectations of the business, overall up by 30%. Maintenance was predictably stable, as customers continue to make the transition to SaaS. EasyVista’s fiscal year runs from January to December.