Lou Steinberg Joins TD Ameritrade as CTO and Continues as Rev2 Chairman of the Board of Directors
Steve Olyha named Rev2 CEO
Momentum Continues as Annual Sales Revenues on Track to Double Again
VALHALLA, N.Y., July 18, 2011 (GLOBE NEWSWIRE) -- Rev2, the leading provider of next-generation risk management solutions, today issued a mid-year progress report. After more than doubling year on year revenues in both FY2009 and FY2010, the Company announced that after the first six months of FY2011, it is on target to double again. Rev2's fiscal year ends on December 31.
Rev2, which began shipping its RiskView application in 2008, is also on track to significantly increase its gross margins in FY2011. The self-funded Company was profitable in FY2010.
"We attribute our continued sales momentum to a rapid acceptance in new markets as well as expanded deployments within our existing customer implementations," said Lou Steinberg, Founder & Chief Executive Officer of Rev2. "Additionally, as our customer base continues to expand, we are beginning to benefit from the aggregation of maintenance renewals. We are finding that customers are hungry for risk management solutions that provide measurable return to the business."
Steinberg said that Net Profits are being reinvested into the Company to expand the RiskView product line, to expand the Company's geographic footprint, and to hire new talent across all areas of the business.
Transition
The Company also announced that, effective this week, Steinberg is joining TD Ameritrade Holding Corporation (Nasdaq:AMTD) as its Chief Technology Officer. TD Ameritrade is a RiskView customer. Steinberg will continue with Rev2 as Chairman of the Board of Directors. Executive Vice President & Chief Operating Officer Steve Olyha, who has worked side by side with Steinberg since early 2009, will assume the role of Chief Executive Officer.
"The Rev2 team and I would like to congratulate Lou on this incredible opportunity," said Olyha. "We know that he will perform brilliantly in his new position as he continues to play an active role as our Chairman. I'm looking forward to continuing my close working relationship with Lou going forward. We are both understandably excited about Rev2's momentum, market position and direction."
Investment in Continued Growth
As Rev2 capitalizes on the momentum generated by the transition, Olyha and Steinberg said the Company will continue to execute on the proven growth strategy for Rev2.
"First and foremost, we will continue to focus on listening to our customers and delivering value to their businesses by constantly enhancing the RiskView application while sustaining the continuity of our product vision," said Olyha. "Going forward we will continue to aggressively reinvest our profits in the Company's growth."
About TD Ameritrade Holding Corporation
For more than 36 years, TD Ameritrade Holding Corporation (NASDAQ:AMTD) has been in the business of serving individual investors — either directly or through a network of independent registered investment advisors. Through its brokerage and education subsidiaries, TD Ameritrade combines innovative trading technology, easy-to-use trading tools, investment services and education, and superior client service to create a market-leading financial services experience. Home to Kiplinger's #1 online broker and Barron's #1 online broker for "Options Traders," TD Ameritrade provides millions of retail investors, traders and independent registered investment advisors with the tools, service and support they need to help build confidence in today's rapidly changing market environment. For more information and resources for journalists, please visit the TD Ameritrade newsroom at www.amtd.com.
About Rev2
Rev2 is the leading provider of next-generation risk management solutions. Our RiskView® Risk Concentration Analysis framework identifies, compares and prioritizes vulnerabilities throughout the business. Rev2 offers tailored RiskView solutions for Service Providers, Manufacturers, Financial Services, Government organizations, and other Enterprises.
RiskView solutions enable our customers to identify the risks that represent the business's greatest vulnerabilities, and address these vulnerabilities before they impact the bottom line. This provides them with an unprecedented competitive advantage by helping them to maximize the realization of existing business opportunities. Our customers typically realize ROI within weeks.
Contact us today for a Proof of Concept tailored to your business: 400 Columbus Ave., Suite 240E, Valhalla, N.Y. 10595, 914.614.8600. http://rev2.com, info@rev2.com.
Copyright © 2011, Rev2. All rights reserved. The RiskView® application is a registered trademark of Rev2. All other trademarks in this document are the properties of their respective owners.
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