Esker Q2 2011 Sales Activity
Double-digit growth
Madison, WI – July 20, 2011
Strong growth in Q2
Esker Q2 2011 sales revenue increased 10% based on fixed exchange rates and 4% based on current exchange rates over a particularly strong Q2 2010 (25%). This progress is a result of an increased demand for document process automation solutions (+18%), as well as a solid performance of Esker legacy products.
Notable performance by France and the United States
These strong results are primarily due to impressive growth in both France and the United States, generating 27% and 22% growth respectively. Despite the current economic climate, companies continue to invest heavily in Esker technology, which provides cost reduction, processing efficiencies and the ability to leverage automation during periods of growth instead of adding staff.
Continued momentum for cloud-based solutions
Once again, Esker on-demand solutions (FlyDoc and Esker on Demand) continue to grow rapidly (+29%), representing 46% of sales revenue, almost 50% of Esker’s activity in Q2 2011. Esker is one of the first software vendors to have succeeded with the migration to cloud computing, due to the company’s strategic development plans in place since 2005.
Resurgence of license sales
In addition to the rise in cloud-based solutions, sales of traditional licenses have increased. Esker DeliveryWare licenses grew 68% in Q2 2011 over last year (up 21% in the first half of 2011).
Record number of new customers
A significant number of new customers were signed this quarter, many of whom do not figure in the first half of 2011 results, indicating a strong and promising start to the second half of 2011.
A profitable first half
Strong sales experienced during the first half of 2011, coupled with rigorous spending controls, ensure that Esker will achieve positive operating results over the same period 2010. As of June 30, 2011, company cash rests at 8.7 million Euros. This stability is essentially due to unfavorable parity between the Euro and the US Dollar (1.45 on June 30, 2011 versus 1.23 on June 30, 2010) and incorporates the distribution of dividends (365,000 Euros) which occurred on June 30, 2011.
Outlook for 2011
Given the pace of sales revenues and the success of its diverse offerings, Esker should experience 10% growth in 2011 over 2010. Progressing sales revenue combined with stringent cost controls will enable the company to continue to generate positive operational results over the previous year.
About Esker
Esker is the worldwide leader in document process automation solutions. Addressing all types of business processes from accounts payable and accounts receivable to sales order processing and procurement, Esker cloud computing solutions enable companies to automate the reception, processing and sending of any business document with one platform. Esker helps over 80,000 companies across the world to reduce the use of paper and eliminate manual processes while improving their productivity, efficiency and environmental impact.
With 33 million euros in sales revenue in 2010, Esker operates in North America, Europe and Asia Pacific with global headquarters in Lyon, France and U.S. headquarters in Madison, Wisconsin. Esker is listed on the NYSE Alternext in Paris (Code ISIN FR0000035818). For more information, visit www.esker.com. Follow Esker on Twitter at twitter.com/eskerinc and join the conversation on the Esker blog at www.quitpaper.com.