Orchestream Holdings plc, the leading provider of software for activating the complete range of services on Internet Protocol (IP) networks, announces its results for the fourth quarter and full year ended 31 December 2000.
Key Highlights
Revenues of GBP2.7m for 2000 in line with market expectations;
Significant new customers acquired since last announcement include AT&T and Global Crossing. These are in addition to previously announced Q4 customers, Sunrise Communications and Reuters;
Repeat license revenues secured in fourth quarter from Energis and Neosnetworks (formerly IDN);
Customer wins continue in first quarter 2001, including tier 1 global service provider Telstra;
Dimension Data recently signed as global systems integration partner (active sales pipeline in Europe and Asia) to compliment previously announced systems integration relationship with Cap Gemini Ernst & Young;
Multi-vendor product development plans on track for Q2 2001, actively supported by hardware vendors Juniper, Avici and Riverstone Networks;
Proposed acquisition of CrossKeys Systems Corporation announced in January 2001;
Nasdaq listing to be applied for on completion of CrossKeys acquisition;
Ashley Ward, Chief Executive Officer of Orchestream commented:
We are extremely excited by the progress we have made in developing the business over the past year. The drive by service providers to generate returns from their investment in network infrastructure is opening up significant opportunities for our software. The proposed acquisition of CrossKeys accelerates our growth strategy and strengthens our competitive position. We look forward to being able to report continued progress in the year ahead.
