PHILADELPHIA - VirtualEdge Corporation (VE), a worldwide provider of Talent Lifecycle Software solutions, announced today continued market momentum highlighted by outstanding financial revenue growth of 97% over the first half of 2005. In support of this momentum, VirtualEdge has moved its corporate headquarters into a new 25,000 square foot facility and continues to be profitable during this expansion. VEís growth was fueled by great go-to-market success from their innovative new products for onboarding (VE Salute), Talent CRM solution (VE Pilot) and multiple replacement opportunities. Over 25 enterprise contracts were signed in the first half such as United Rentals, Genesis HealthCare, Wolters Kluwer, Gwinnett Health System, Advocate Health Care, Johnsonville Sausage, HealthEast Care System, James Hardie, Brady Corporation and one of the worldís most innovative manufacturers and marketers of personal computers and related software, services, peripherals a! nd networking solutions.
Our performance this half along with our roster of world-class customers clearly indicates demand for the enormous innovation and power introduced by our Talent Lifecycle Suite of products, said Diane Smith, VirtualEdgeís CEO. Our excellent results cap a strong 6 months and positions us well for the second half of fiscal 2006, during which we will continue to invest in our sales channels and execute on our aggressive go-to-market plan. Itís an exciting time for VE; we look forward to the remainder of the year as we are confident in our ability to provide customers the worldís trusted standard for impacting the overall talent capital of their business.
Significant Events Over the First Half Included:
- VE added over 25 new enterprise customers in the first half of 2006.
- First half financial success including 60% sales growth, 43% recurring revenue growth and 97% overall revenue growth over 2005.
- Supported customer compliance requirements with the final Department of Laborís Office of Federal Contract Compliance Programsí (OFCCP) ruling on the definition of an Internet Applicant, which took effect February 6, 2006. VE has integrated additional OFCCP-related features into its solution to support record keeping that is required under this new rule.
- VE launched VE Release 7.0, which delivered an expanded suite of innovation, platform enhancements and world-class functionality.
- Relocated VEís corporate headquarters to a new 25,000 square foot corporate campus in Newtown, Pennsylvania. The location, built to the companyís specifications, has tripled the space of its previous facility to accommodate its rapid expansion.
- The launch of the highly anticipated new Talent CRM product, VE Pilot available either as part of the VE Talent Lifecycle Suite or as a stand alone solution is a comprehensive, configurable talent positioning system developed to strengthen and deepen relationships with potential talent. VE Pilot was developed in close collaboration with thought-leading customers worldwide to help streamline and proactively build a company’s talent network of relationships, contacts and information.
We are very pleased and proud of our continued market leadership at VirtualEdge. We owe our phenomenal success to the hard work and passion of the entire VE team. We have developed a superior Talent Lifecycle Software Suite that has produced excellent results for our customers all over the world, and it is supported by the best team in the industry, Smith said.
VirtualEdge Corporation (VE), announces continued market momentum
Highlighted by outstanding financial revenue growth of 97% over the first half of 2005
