Concerto Software registers record revenues in second quarter FY2004-05

Our Corporate Bureau
17 August 2004

Mumbai: Concerto Software, Inc, a provider of contact centre solutions worldwide and a major player in the Indian contact centre solutions industry, has announced its financial results for the second quarter this fiscal year.

Revenue for the quarter was $40 million, an increase of 52 per cent compared to the $26.3 million in second quarter revenue last year and an increase of 10 per cent compared to the $36.3 million in revenue for the first quarter of 2004. This marks the fifth consecutive quarter of sequential revenue growth for the company. Product revenue for the second quarter was $18.4 million, an increase of 57 per cent from the second quarter last year and a 15-per cent increase from the first quarter of 2004. The first quarter''s revenue assumes the Concerto Software and Melita International merger occurred as of January 1, 2004.

Strong international sales combined with solid performance in North America spurred the company''s vigorous growth this quarter. The Asia Pacific division registered record sales for the seventh quarter of the last eight. In addition, Concerto Software signed 29 new name accounts during the period. Eighteen of these accounts were sales of EnsemblePro, Concerto Software''s unified contact centre platform, which has accounted for 34 per cent of total product revenue for the first half of the year.

"Concerto Software''s robust performance this quarter validates the company''s ability to execute well against its strategy," said James D Foy, president and CEO of Concerto Software. "The substantial growth in our EnsemblePro customer base and strong international sales demonstrate that Concerto Software is delivering solutions that companies around the globe are increasingly relying upon to enhance the way they interact with their customers."

During the second quarter, the company also released its proprietary Digital Communications Processor (DCP) on Conversations, an outbound dialing solution brought to Concerto Software through the February merger with Melita International. The DCP on Conversations provides greater accuracy of call classification and increased resource utilisation, leading to productivity increase of up to 15 per cent depending on the business application. The immediate value of this solution generated strong demand that contributed significantly to our results this quarter with 15 systems ordered by customers.

Concerto Software acquired all assets and certain liabilities of CenterForce Technologies on April 26, 2004. CenterForce''s performance optimisation solutions add complementary technology to Concerto Software''s current stable of products, and will help improve the operating efficiency of contact centers'' existing customer interaction management (CIM) technology. The acquisition brings four new solutions to Concerto Software''s product suite, including RightForce® for Internet-based workforce management; Analyzer™ for performance analysis and agent scorecards; Optimizer™ for best-time-to-call; and Planner™ for workforce planning and forecasting for outbound campaigns. Companies can now look to Concerto Software for its knowledge and capabilities across the contact center, from managing customer interactions across multiple channels to maximizing the power and efficiency of agents through analysis and scheduling. Bob Kelly, formerly CenterForce''s CEO, joined Concerto Software as vice president of performance optimisation solutions.