TempWorks Software Announces 2005 Results

TempWorks Software, a provider in the staffing software industry, today announced financial results for the year ended 2005.

The staffing solution provider increased sales from $3.9 million in the year ending 2004 to $4.9 million in 2005, resulting in a 25 percent growth rate. The 4th quarter of 2005 represented the tenth consecutive quarter of growth for the software company.

The average growth rate of hosted customers reached 45 percent, contributing to a 135 percent increase in hosted user count for 2005, and bringing its total user count to 3,399. The uptime percentage for hosted services was 99.89 percent with a business hour percentage of 99.97.

During the year, the company began transitioning its portal products to .Net 2.0 from .Net 1.1 and continues to deploy new products, notably its WebCenter suite, as part of its Paperless Staffing Initiative on the .Net platform. TempWorks increased its staff by more than 25% to 41 in 2005, bringing its total of software development specialists experienced in the staffing industry to thirty (30).

The company anticipates the release of key new products in 2006. Revised Mobile Sales Interface, Interactive Voice Response for time card and availability reporting, Text Messaging, workflow features based on Windows Workflow Foundation, and SkedNet, a .Net based scheduling facility, figure prominently in the plans.

After several office expansions, an additional 2,170 square feet was leased in 2005 to accommodate the employee increase.

Other significant accomplishments noteworthy in 2005 include:

- The release of TwSelect, a new TempWorks service geared toward smaller and growth oriented staffing firms.

0 The release of an enhanced General Ledger and Accounts Payable system, offering full integration to the core TempWorks solution.

- The integration of a job board and online application system into the TempWorks core product.

- A complete over hall of the TempWorks Hosted environment, expanding the services delivered to hosted customers.

- A significant reduction in outstanding accounts from the end of 2004 to the end of 2005, reaching an all-time record low.

Privately held TempWorks is projecting a twenty-five percent increase in sales for the year 2006.