Contact Information: Contact Victor Cruz vcruz@mediapr.net 508-655-4397
BOSTON, MA -- (MARKET WIRE) -- November 7, 2006 -- OpenAir,
Inc., the world's leading on-demand provider of professional services
automation (PSA)
software today announced third quarter earnings figures showing record
revenue and subscribers to its subscription-based software.
Reporting 45% year over year revenue growth from the same period in 2005,
OpenAir completed its
30th quarter of uninterrupted expansion. As OpenAir's subscriber base grew
to more than 26,000 users, OpenAir remained
cash-flow positive, and was profitable for the 12th consecutive quarter.
"Our focus on effective operations, coupled with our ability to invest in
growth, leave us well positioned to continue our leadership in the PSA market," OpenAir CFO
Tom Brennan said.
Today, OpenAir also inaugurated its Annual User Summit in Boston. Speakers
include leading practitioners in the Services Industry and attendees
include individuals from around the United States as well as Europe and
Asia.
"Our user community really is the driving force behind OpenAir's tremendous
success. We're very excited to have them coming together to improve their
skills, network, and even have a little fun," said OpenAir CEO Morris Panner.
About OpenAir
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 team of former Bain,
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 the subscription-based solution. For additional
information, visit www.openair.com.