Recruitmax Sales Soar 140 Per Cent In Record Second Quarter

Recruitmax, a global company in technology and services for building great workforces, today announced another record quarter. For the fiscal quarter ended 31 July 2005, bookings increased 140 per cent over the same period last year and the company added a record 23 new enterprise clients and had strong add-on and renewal sales.



During its second quarter, Recruitmax welcomed six new Fortune 500 clients, including the worldís second largest media conglomerate and one of the fastest growing insurance providers in the United States. The company also added NVR, Inc., Ann Taylor Stores and Sapient, a global provider of business and technology services, to its growing client roster.

Results were also impacted by a strong performance from the companyís international operations. In the quarter, Recruitmax added international clients Rentokil, a U.K.-based business and consumer services provider with more than 90,000 employees; AMEC, a European-based engineering and construction company with more than 44,000 employees; Capital Consulting, the U.K.ís top provider of outsourced permanent hiring and redeployment solutions; and Ambit, the largest staffing company in Australia. In total, Recruitmax added more than 400,000 on-demand users (full-time employees) in the second quarter.

This has been an exceptional quarter in our companyís history, said Recruitmax founder and chief executive officer Derek Mercer. Our strong results were driven by increasing demand for our recruiting and onboarding solutions as well as sales of our new performance management application. Our leading technology enables us to consistently win business against top competitors across product categories and global markets. Mercer commented, We share our clientsí philosophy that great workforces differentiate them from their competitors and we look forward to continuing to help them attract, develop and retain the best talent.

Other key events during the fiscal quarter included the addition of Mark Silverman as chief financial officer, the expansion of the companyís international presence with new hires throughout Europe and Australia, and the formation of several new strategic alliances, including one with Australiaís BML. Recruitmax received two prestigious accolades, recognising its strong growth, as well as thought-leadership regarding the introduction of the industryís first employee onboarding application, Aloha. Recruitmax client, Humana, also received an award for its innovative use of Recruitmax applications.

Recruitmax continued its tradition of bringing its clients together for networking opportunities and to discuss and share best practices. In May, Recruitmax drew more than 250 recruiters, human resources managers and IT professionals to its annual usersí conference at Wynn Las Vegas. Recruitmax also launched new releases of its flagship Corporate Edition recruiting application, as well as its employee performance management product, Impact, during the quarter.

Peter Goldmacher, Vice President and Senior Research Analyst for SG Cowen, commented, We expect interest and investments in human capital management solutions to continue to grow rapidly as more and more large enterprises increasingly view their employee base as an important competitive differentiator.