MALTON, England, May 14, 2008 (PRIME NEWSWIRE) -- Propalms, Inc. (Pink Sheets:PRPM) is pleased to announce that the Company has increased its fiscal first quarter 2008 sales transactions, which were $243,464, by 30 percent, as compared to its fiscal first quarter 2007 sales transactions, which were $187,109. This significant increase is primarily due to new customer wins, as well as a large amount of customer renewals with existing customers, such as Denso International Thailand Co., Ltd., Inland Detroit Diesel and Inter Access, amongst others.
With the combined release of its new products, TSE 6.0 and Propalms VPN, Propalms expects its sales to substantially increase in the next 24 months.
"One of the major advantages we have over our competition is that Propalms TSE is already developed and is scalable to any size company. Customers believe in our technology and it shows in the number of users who renew their licenses and purchase additional licenses. We are signing new customers on a rapid basis, which contributes significantly to our increasing sales transactions," stated Robert Zysblat, President of Propalms, Inc.
Propalms' revenue is made from new license sales, expansion licenses to existing customers, as well as annual renewals of licenses and maintenance contracts. The Company has made the decision to take the conservative approach that complies fully with U.S. GAAP accounting rules. Propalms, Inc.'s accounts are based on revenue recognition in accordance with Software Revenue Recognition SOP 97-2. Revenue is based upon a subscription model and the revenue amount is deferred over the life of the license and maintenance contract.
About Propalms, Inc.:
Propalms, Inc. is a leading global provider of application delivery solutions for Terminal Services and Virtual Desktop Infrastructures. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.