Date Posted: 12/12/2002
Replicon’s Record Results Continue for Fiscal Q3 2002
Replicon’s Record Results Continue for Fiscal Q3 2002 Strong growth persists with 87% revenue increase from last year Calgary, Alberta, Canada – (November 8, 2002) – Replicon (www.replicon.com), the world leader in Web-based timesheet management and productivity software, announced today that Fiscal Q3 2002 has been another record-breaker. Replicon improved on their Fiscal Q2 2002 record with a 20 percent increase this quarter and profitability of 32%. Revenues increased 87 percent over the same period last year, denoting a consistently strong market position.
Replicon won key new customers for its Web TimeSheet product this quarter, including Wanadoo Services, Covansys, Kalmbach Publishing Co., N2 Broadband, Publix Supermarkets, and Valley Telephone Cooperative.
“Replicon continues to succeed in a hostile business climate, thanks to Web TimeSheet’s user-friendliness, flexibility, and quick implementation. Web TimeSheet is typically operational in less than three business days, meaning that our clients see results fast,” says John Eddy, CEO of Replicon Corporation. “Our consecutive quarterly profit achievements strengthen our position as market leader, allowing us to forge ahead with new product innovations and bring even greater value to our clients.”
Replicon’s Web TimeSheet software is available for demo and purchase at www.replicon.com.
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About Web TimeSheet Web TimeSheet is the established market leader in automated timesheet management, with more than 550,000 global users at companies including HP, Compaq, AT&T Wireless, Sony Music and Charles Schwab. The product is easy to use, quick to deploy and provides immediate return on investment. Web TimeSheet makes it easy for users to enter time & expense, improves data accuracy, eliminates redundant data entry, provides visibility into project and staff performance, compresses billing cycle and improves future project estimates. ProMax extends Web TimeSheet by providing real-time visibility into the productivity level of workers, departments and the overall company and aligning business priorities by distributing revenue goals, and direct accountability for them, to all individuals throughout the organization.
About Replicon Replicon, founded in 1996, is the world leader in timesheet and expense management and the innovator in productivity software. With its Web TimeSheet and ProMax products, organizations now can automate timesheet and expense processes and have visibility into project and staff productivity. Replicon launched Web TimeSheetÔ version 1.0 in 1998 and has grown revenues in excess of 250 percent for the last two years. Replicon has grown its total user base to more than 500,000 users in 25 countries today. The company has been recognized by Profit Magazine as one of the fastest growing companies in Canada in 2001 and by Alberta Venture Magazine/Grant Thornton Chartered Accountants as the second fastest growing company in Alberta. Most recently it was selected as a finalist for Ernst & Young’s 2002 Entrepreneur of the Year Award. Replicon is privately held and has financial backing from BDC Venture Capital Group, one of the largest venture capital organizations in Canada. For more information, visit www.replicon.com.
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