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EXACT TARGETS PSA MARKET; RESULTS DROP

Rajesh PatelExact, as it released results for 2009, outlined areas for growth, including the professional services application market. That was one of four areas in which the Dutch company invested last year, according to CEO Rajesh Patel. The company is moving into that market by building PSA functionality into Synergy Enterprise.

He noted that 45 percent of the company's customers are in the public services sector. Meanwhile, the results for 2009 weren't too different from those experienced by other vendors. Revenue dropped to about $317.7 million down 10.9 percent when measured in euros. The company pushed down operating costs by 11.7 percent, after having two layoff rounds. Net income dropped to $45.9 million, down 7.7 percent when calculated in euros. A 7-percent staff cut reduced Exact's number of employees to 2,200. Revenue in the Americas dropped to roughly $52.1 million, off 13.3 percent; to $69.3 million, down 15.6 percent, when measured in constant currencies. The region's EBITDA for 2009 fell to $14.8 million, down 16.8 percent from 2008. During a Webcast, executives said that there was a 26-percent drop in license revenue, but that overall it was the strongest quarter of the year. Maintenance was up almost 4 percent, driven by a price increase at the beginning of 2009.  Of the four areas of investment, two were not relevant to the United States. The other investment area was Longview Solutions, which markets performance management applications.
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