AXS-One Inc. [AMEX: AXO], a leading provider of high performance records compliance management (RCM) solutions, today announced a positive start to 2007 with a compelling series of contract wins in the first quarter. The new business, which represents a jump of over four times the RCM license revenue reported for the first quarter of 2006, spans a broad range of engagements, from new implementations of the AXS-One Compliance Platformâ¢ with large and medium enterprises, to additional licenses with existing customers. Collectively, the new contracts mark a steady expansion of the AXS-One footprint in its existing customer demographics as well as entry into new markets. Validating the companyâs channel strategy, a number of the new deals were acquired by our strategic partner Sun Microsystems.
The new business represents a wide cross section of industries that spans utilities, manufacturing, banking, litigation support, transportation, education, oil and retail. In North America, this includes a major regional utility, as well as a railroad and an oil company signed by Sun Microsystems. The company also expanded its footprint in the banking sector, with a major new client in Europe (also by Sun), along with expanded contracts in North America, Europe, Eastern Europe and India. Finally, again by Sun, the companyâs Asia-Pacific region signed a regional utility company.
The scope of the new business illustrates the flexibility and strength of the AXS-One Compliance Platform in addressing both critical business needsâfrom records retention for legal discovery to data archiving for corporate governanceâand complex technical requirements, with the management of disparate electronic formats. The projects involve very different applications of the technology: a university that plans to digitally store electronic reports, a retailer looking to offload SAP records into an archive to improve performance, a bank that is developing plans to implement a total compliance solution, even a large utility wanting to archive e-mails for enhanced legal discovery.
âThe sales traction in the first quarter validates the core AXS-One market position, that we have the most scalable and high-performance RCM solutions with the best total cost of ownership available today,â said Bill Lyons, CEO of AXS-One. âThis market is set to grow as corporations increasingly deal with their regulatory responsibilities and growing e-discovery challenges, while needing to reduce storage costs and improve efficiency. In particular, in the U.S. we expect the new Federal Rules of Civil Procedure (FRCP) to become a tipping point for greatly expanded adoption of archiving solutions. AXS-One stands ready, with the most flexible, powerful and comprehensive solution to meet this demand.â
AXS-One Compliance Platform, AXS-Oneâs award winning flagship product, provides a single, scalable archiving and electronic records management software platform for policy-based management of disparate electronic records (including e-mail and instant messages, reports, SAP output, desktop documents, images). The solution features a broad range of capabilities to address growing requirements for risk management, e-discovery and regulatory compliance, as well as delivering exceptional operational savings and superior ROI.
AXS-One plans to release its results for the quarter ending March 31, 2007 on April 26, 2007 after market close. Bill Lyons, Chairman and CEO and Joe Dwyer, CFO, will host a conference call for institutional investors and shareholders after the release to discuss the companyâs results for the quarter.