Esker Q3 2011 Sales Activity
Sales Experience Accelerated Growth
Madison, WI – October 27, 2011
Strong growth in Q3
Esker Q3 2011 sales revenue increased 20% based on fixed exchange rates and 17% based on current exchange rates following a strong Q3 2010 (+10%). This growth is a result of increasing demand for document process automation solutions (+27%), in addition to a decent performance by Esker legacy products.
Impressive results in the United States
The U.S. contributed significantly to this quarter’s strong numbers, generating 32% growth. Despite uncertain economic conditions, American companies continue to invest heavily in Esker technology solutions which enable them to improve margins and contain payroll.
Continued momentum for cloud-based solutions
Esker on-demand solutions (FlyDoc and Esker on Demand) continue to grow rapidly (+26%), representing 47% of sales revenue — almost half of Esker’s activity in Q3 2011. Esker is one of the first software vendors to successfully migrate to cloud computing, chiefly due to its strategic development plans which have been in place since 2005.
High number of signed contracts
A record number of contracts were signed this quarter, two thirds of which were not accounted for in the Q3 2011 sales figures. Accordingly, a strong fourth quarter is expected, as well as a very good start to 2012.
A profitable quarter
Strong sales in Q3 2011, coupled with rigorous spending controls, ensure that Esker will achieve growing operating income over the same period in 2010 and be well above the two previous quarters. As of September 30, 2011, company cash rests at 9.7 million Euros (8.7 million Euros on June 30, 2011) — a result of Esker’s strong performance and slight improvement in parity between the Euro and U.S. Dollar.
Outlook for 2011
Esker anticipates double digit growth in 2011 over 2010 on fixed exchange rates, based on 70% of recurring revenue, along with the continued success of its services. Additionally, increased sales revenue associated with stringent cost controls will enable the company to post a growing operating income over 2010.
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.