LAS VEGAS - Thursday, April 30th 2015 [ME NewsWire]
Net Revenues of $25.9 Million, Up 40% Year over Year
Deferred Revenues of $86.8 Million, Up 43% Year over Year
Surpassed 1,000 Signed Clients Since Inception, Up 27% Year over Year
(BUSINESS
WIRE)-- Rimini Street, Inc., the leading independent provider of
enterprise software support for SAP AG’s (NYSE: SAP) Business Suite and
BusinessObjects software and Oracle Corporation’s (NYSE: ORCL) Siebel,
PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle
Middleware, Hyperion and Oracle Retail software, today announced its
financial results for the three months ended March 31, 2015.
Rimini
Street's first quarter results included record highs in net revenues
and deferred revenues. Also, the number of clients electing multi-year,
non-cancelable service periods is a record for fiscal first quarters.
Net revenues for the first fiscal quarter of 2015 increased 40% year over year to $25.9 million
Deferred revenues as of March 31, 2015 increased 43% year over year to $86.8 million
The above information is preliminary and subject to the completion of quarter-end financial processes and review.
Notable Q1 2015 Achievements:
Surpassed 1,000 signed clients since inception
Signed first client headquartered in China, a $40 billion chemical conglomerate
Signed first client headquartered in South Africa, one of Africa’s largest steel distributors
Signed 66 new transactions, a record number of new clients in a fiscal first quarter
Hired 58 new employees worldwide, expanding the global workforce to more than 500 employees
Resolved thousands of client support cases with an average response
time of less than five minutes and average client satisfaction rating of
4.8 out of 5 (where 5 equals “excellent”)
Delivered over 90,000 global tax, legal, and regulatory updates to date, across more than 100 countries
“We
exceeded our fiscal first quarter plan and surpassed the milestone of
1,000 clients signed since inception, a direct result of the success and
value Oracle and SAP licensees are achieving with a switch to Rimini
Street’s innovative and robust support offering,” said Seth Ravin, CEO,
Rimini Street. “Today, we further extend our vision by launching Rimini
Street’s next-generation enterprise software support model. We are
grateful for and honored by the opportunity to serve each and every
client who has made our global growth and success possible, and we
remain committed to bringing the most innovative and cost-effective
enterprise software support services to our current and future clients.”
About Rimini Street, Inc.
Rimini
Street is the global leader in providing independent enterprise
software support services. The company has redefined enterprise support
services since 2005 with an innovative, award-winning program that
enables Oracle and SAP licensees to save up to 90 percent on total
support costs. Clients can remain on their current software release
without any required upgrades for at least 15 years. Over 1,000 global,
Fortune 500, midmarket, and public sector organizations from a broad
range of industries have selected Rimini Street as their trusted,
independent support provider. To learn more, please visit
www.riministreet.com or call within the USA 888-870-9692 or
internationally +1 702-839-9671.
Forward-Looking Statements
This
press release may contain forward-looking statements. The words
“believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are subject
to risks and uncertainties, and are based on various assumptions. If
the risks materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. Rimini Street assumes no obligation to
update any forward-looking statements or information, which speak only
as of the date of this press release.
Rimini Street and
the Rimini Street logo are trademarks of Rimini Street, Inc. All other
company and product names may be trademarks of their respective owners.
Copyright © 2015. All rights reserved.
Contacts
Rimini Street, Inc.
Alma Park, +1 323-229-7282
APark@riministreet.com
Permalink: http://www.me-newswire.net/news/14435/en
أبوظبي، الإمارات العربية المتحدة - يوم الخَمِيس 30 أبريل 2015 [ME NewsWire] 
