Q3 2012 Bookings Update

RNS Number : 3247O

WANdisco Plc

10 October 2012

 



10 October 2012

WANdisco plc

Q3 2012 Bookings Update

Q3 Subscription Bookings increase by 86 per cent year-on-year

Renewal rate 117 per cent

Sheffield - WANdisco plc (LSE: WAND), a leading provider of global collaboration software to the software development industry, is pleased to provide the following update for the three months ended 30 September 2012.

In the third quarter, subscription bookings reached a record level of $2.010 million, representing an 86 per cent increase year-on-year (2011: $1.083m). When combined with bookings for the first half of $3.389 million, the first nine months of the year have delivered total bookings of $5.399 million (2011: $3.192 million), representing an increase of 69 per cent in the year to date.

New customers signed in the third quarter increased significantly from the previous quarter and included an array of blue-chip names including Nokia Siemens Networks who, after extensive trials in the first half, have moved away from more traditional technology and will be adopting Subversion MultiSite throughout the entire organisation. In the third quarter, WANdisco's products have been purchased by Polycom, Northrop Grumman, Manulife Financial, DragonWave, Harmonic and Home Depot.  In addition, other divisions of both Dell and Research in Motion have also adopted WANdisco products during the period.

The annualised renewal rate by booking value was 117 per cent. Renewals included Playfish (Electronic Arts), Fiserv, SSP, Pixelworks, Macquarie Bank, Sears, Skype, Pitney Bowes, Global Foundries, Halliburton and Ladbrokes.  Many of these customers purchased additional user licences, added-on more sites or committed for longer time periods to WANdisco's products.

During the period the Company significantly updated its flagship product, Subversion MultiSite, to enable enhanced support for large-scale deployments with additional access control and security features.  The company also made further moves into the small medium enterprise (SME) space with updates to its uberSVN product line and through the acquisition of the SmartSVN technology, the leading Subversion client technology, which is almost exclusively sold as an e-commerce transaction.

Historically, the second half of WANdisco's financial year, and in particular the fourth quarter, is its strongest, due to the higher levels of renewals that arise.  As a consequence, the Directors are confident that the Company remains on track to achieve its targets for the current financial year.

For further information please contact:

WANdisco plc:
David Richards, Chairman and Chief Executive Officer	via FTI Consulting
Nick Parker, Chief Financial Officer
FTI Consulting:	[phone]
Matt Dixon / Sophie McMillan / Jon Snowball
Panmure Gordon & Co.	[phone]
Fred Walsh / Giles Stewart (Corporate Finance)
Adam Pollock / Charles Leigh-Pemberton (Corporate Broking)

Ends

About WANdisco plc

·      WANdisco (LSE: WAND) is a leading provider of global collaboration software to the software development industry and is headquartered in Sheffield. WANdisco's differentiated patent-pending technology provides a cost-effective solution to the problems faced by organisations with globally distributed software engineering teams. By using WANdisco's technology in conjunction with Apache Subversion ("Subversion"), an open source version control system, software developers at globally distributed sites are able to access the same data program at all times which helps improve productivity, and prevent downtime and data loss.

·      WANdisco currently has more than 200 customers globally, a number of which are in the US Fortune 100. Customers include some of the world's most well-known and well regarded companies across a broad range of industry sectors such as AT&T, Aviva, Barclays, Hewlett Packard, Honda, Intel, John Deere, Johnson & Johnson, Juniper Networks, Motorola, NCR, Nokia, NTT and Wal-Mart.

·     The Group uses an annual subscription licence model to sell its products, providing a predictable revenue stream and a foundation for further expansion.

·      To date, WANdisco has focussed on exploiting its technology within the software development industry. Going forward, the directors believe that there is potential to apply the technology to other significant markets, including the Big Data market, and thereby continue the Group's strategy of rapid organic growth through product expansion and customer acquisition.

 

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