OpenAir Announces Record Revenues in First Half of 2007

BOSTON, MA--(Marketwire - July 26, 2007) - OpenAir, the world's leading provider of on-demand project workflow solutions, announced today that it had achieved record revenue and double-digit growth in the half-year ending on June 30, 2007. Net revenue increased over 55% as cash flow tripled over the same period. This marks OpenAir's 33rd straight quarter of consecutive revenue growth and the 15th quarter of GAAP profitability.

"Our strong top-line growth, combined with our relentless financial discipline leave us well positioned to take advantage of the strategic opportunities presenting themselves in the current market for project workflow solutions," said OpenAir CFO Tom Brennan.

OpenAir's bottom- and top-line growth have been driven by a broadening spectrum of clients as OpenAir expands into the enterprise space, portfolio project management, and more diverse market verticals.

"Our mission is to be the most trusted company in software," Morris Panner, CEO, said. "Our focus on the customer has continued to generate strong results both in terms of loyalty and financial performance."

Highlights from the first six months of 2007:

--  OpenAir reached 32,000 active users on its award winning platform
--  OpenAir was named one of the Fastest Growing Private Companies by the
    Boston Business Journal for the second year in a row
--  OpenAir was named to the ASP Top 25 Global Service Providers for the
    seventh year in a row -- a record matched only by and WebEx
--  OpenAir's customers launched six local user groups around the country,
    with more starting in the coming quarters
--  OpenAir released four updates to the product containing dozens of user-
    generated application enhancements

About OpenAir

Based in Boston, OpenAir Professional Services Automation (PSA) software enables professional services firms to gain controls and insight on their financial best practices. OpenAir empowers executives to track projects, teams, and billable hours for improving employee utilization and to streamline project management. OpenAir Consulting provides both expert deployment advice on the OpenAir product as well as Services Best Practices Consulting as part of the OpenAir Optimize™ Services Program. Relying on a highly experienced team of former Bain, Accenture, Deloitte, Cambridge Technology Partners and Mercer consultants, OpenAir has developed comprehensive programs for both the Software-as-a-Service (SaaS) deployment paradigm as well as for the services vertical industries. OpenAir has helped leading services organizations across six continents increase profits through its subscription-based solution. For additional information, please visit

Contact Information: Press Contact: Victor Cruz (508) 655-4397