|[January 28, 2013]
Power Analytics Closes 2012 with Strong Final Quarter
SAN DIEGO --(Business Wire)--
Power Analytics Corporation announced today it posted a strong fourth
quarter, ending a year in which the company solidified its position as a
leader in the development of advanced electrical power management
solutions. Over the past year, Power Analytics saw its customer list
grow by 8%, surpassing 500 customers globally, across multiple
industries in which electrical power serves as the "central nervous
system" of the customers' most mission-critical operations.
The company now has over 1,750 active licenses in the marketplace. While
revenues and profitability were flat for the year, a more favorable
revenue mix drove improved margins and better than expected bookings in
the final quarter of the year. Software licenses as a percentage of
revenue improved in the fourth quarter as well, rising by more than 10%.
The company also formed and strengthened partnerships with industry
leaders including Envirotrol, Rovisys, Intel (News - Alert) and EnerNex Smart Grid
Labs, which will favorably impact growth in the coming year.
"I'm pleased with the progress we made this past year, particularly in
the fourth quarter," said Michael J. Nark, President and CEO of Power
Analytics. "Our ability to consistently deliver ROI for our customers by
improving throughput capacit, decreasing energy costs, and favorably
impacting downtime and maintenance costs will fuel our future growth,"
Highlights from 2012 include:
Design, simulation and modeling software demand grew by over 10%
Recurring revenue grew by 19%
Software maintenance contracts and renewals grew 12%
Operational cash flow improvements of over 8%
Named one of the top 12 companies to watch in 2012 by readers of Smart
Awarded six new technology patents
Released new versions of its electrical power monitoring software
across multiple product lines
In addition, Power Analytics was selected to provide the first managed
cluster of microgrids in a military environment in November and 2013
will mark the beginning of the microgrid cluster concept at three naval
bases in San Diego, Calif.
Under the new leadership of Nark, the company will embark on "an
aggressive sales and marketing campaign that will branch out into
multiple market segments clamoring for smart grid technologies." Power
Analytics plans even more associations with strategic partners and
technology-enabling companies in 2013, while continuing to develop and
release enhanced versions of the company's premier software.
About Power Analytics Corporation
Used by the power industry for more than 25 years, Power Analytics'
software solutions have surged to the forefront of the electrical system
planning, operation and smart grid market space for use in
energy-intensive, mission-critical facilities and microgrids. Paladin
products currently protect more than $100 billion in customer assets
including financial data centers, air traffic control sites, military
installations, deep sea oil platforms, and power generation and
distribution facilities. The company is headquartered in San Diego,
Calif., and has a smart grid center of excellence in Raleigh, N.C.
Paladin, Paladin DesignBase, Paladin Live, Paladin SmartGrid, and Power
Analytics are trademarks of Power Analytics Corporation. For more
information about Power Analytics and its products, visit PowerAnalytics.com.
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