SumTotal Closes Stellar Year with Continued Growth, Profitability, and Software Innovation - 0 views
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SumTotal Talent Management on 07 Feb 12FOR IMMEDIATE RELEASE: SumTotal Closes Stellar Year with Continued Growth, Profitability, and Software Innovation Market Leader in Strategic Human Capital Management Positioned For Accelerated Growth in 2012 with Global Expansion and New Innovations GAINESVILLE, Fla., Feb. 6, 2012 - SumTotal® Systems, Inc., the innovator in Strategic Human Capital Management (HCM) solutions, today reported exceptional 2011 results with 90 percent overall booking growth and significant customer momentum across its global operations. SumTotal consistently accomplished positive expansion in bookings and new customer acquisition, and attributes this success to solid customer loyalty, operational efficiencies, and continued product advancement. The company achieved 110 percent booking growth in the second half of 2011, compared to same period the previous year, with 207 percent overall SaaS booking growth for the year as more customers joined SumTotal's Cloud offering. Recurring revenues were up 103 percent in the second half of 2011, and EBITDA grew 171 percent compared to previous year, representing 21 percent above plan. SumTotal has continued to develop a strong track record of operational excellence that has contributed to the company's impressive growth and profitability. Numerous new global customers joined SumTotal's fast-growing customer base including Gerber Life, Physicians Mutual, Young & Rubicam, Highmark, MD Physician Services, and Konica Minolta Business Technologies. In addition, SumTotal continued to innovate with numerous advancements for its flagship products and launched new capabilities in Mobile, Social Learning, Workforce Analytics, and end-to-end Talent Management. * Mobile: The fully rich media capable Mobile solution provides downloadable content for untethered support, as well as advanced tracking and reporting, and support for all mainstream devices and operating systems. * Social Learning: Improves knowledge retention across workfo