Expert System Reports Record Profit Growth in the First Half of 2009
Expert System affirms increased leadership in 2009, 9-28-2009
New York, September 28, 2009 – Expert System, leading provider of semantic software that discovers, classifies and interprets text information, today announced its financial results for the first half of 2009. In its twentieth year since the company’s inception, these results reveal record growth in Expert System’s production and profits. Further validating Expert System’s growth is its recent inclusion in Software Magazine’s Software 500 ranking of the world’s largest software and service providers.
In the first six months of 2009, Expert System increased its revenue to $7.34 million, with an EBITDA of 27 percent, which is 44 percent higher than the same period in 2008. Reaching the best half-year performance in its history, this marks the twentieth consecutive quarter Expert System was profitable despite a recession-plagued year.
In the first half of 2009, Expert System has signed several new U.S. and Italian customers including Saipem, Italy’s largest oil and gas contractor and subsidiary of energy company Eni, and the Italian Camera dei Deputati (Chambers of Deputies) which enlisted Expert System to improve the categorization and storing of official records. Expert System also signed deals with significant U.S. customers in the pharmaceutical and automotive industries.
“The semantic search industry has seen significant growth in the past year,” said Brooke Aker, CEO, Expert System USA. “Expert System’s success this year is a clear indication that major brands are realizing the value of semantic technologies and how it can help increase efficiency, identify trends and warning signs, and make business better overall.”
Expert System’s record growth was further recognized through its inclusion in Software Magazine’s Software 500 list as one of the world’s largest software companies. The Software 500 is a revenue-based ranking of the world’s largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers.