News and Articles
SkyCreek Increases Profitability By 70% and Revenue By 10% in FY2004 Due to Significant Growth in its IVR Service and Hosted IVR Business
Company expects 50% growth in revenue in FY2005
Herndon, VA, March 15, 2005: SkyCreek Corporation the leader in delivering Interactive Voice Response (IVR) Technology, IVR Applications, and custom IVR Solutions, today announced that net income increased by 70% in FY2004, while revenue increased by 10% percent year-over-year. The key driver was the significant growth in its IVR Service and Hosted IVR businesses.
"We are very pleased with the performance of our business in FY2004," commented Jack Havas, Chief Executive Officer. "The increased investments we have made in our sales and services, marketing and R&D resources are paying off, enabling us to convert market opportunities into sequential revenue and profit growth, and allowing us to continue to grow our business.
Outlook
Our growth is being driven by the continued adoption of our IVR applications by our existing customers and by the support of our key business partners, who continue to invest in their relationships with SkyCreek as their customer contact, service activation, service order assurance, and/or fall-out management partner of choice. In addition, we see significant opportunities for our IVR Service and Hosted IVR businesses.
We are also excited about the enthusiastic reception and endorsement we received from our customers and partners who have seen demonstrations of our Call Notify IVR Platform , our next generation, web-based IVR Platform. In addition, the Call Notify IVR Platform will position the company to move into new vertical markets during the latter part of 2005.
For 2005, SkyCreek anticipates growth in the range of eighty percent 80-100% percent over FY2004 revenue. Profitability is expected to increase from 40-60% as the company continues to invest in its products and personnel to support the anticipated growth. The company expects to begin realizing improved operating leverage from these investments around midyear 2005, thereby leading to more positive earnings comparisons as the year progresses.
Interactive Voice Response (IVR) Solutions and Back-Office Systems are increasingly being recognized for their strategic business impact and growing in importance within the communication industry today," said Mark Wilburn, Chief Technology Officer, SkyCreek Corporation. "We believe that over time the growing sophistication of customers will cause them to become more selective and narrow the list of vendors under consideration for these types of systems. Our increased investments in product development of our IVR platform continues to extend the capabilities and differentiation of our offerings while our investments in our field operations and channel development provide increased market coverage and sales opportunities. As a result, we expect to continue to experience double digit growth in 2005 and beyond.
About SkyCreek Corporation
SkyCreek is the leader in delivering carrier-class Interactive Voice Response (IVR) technology, IVR applications, IVR solutions and Operational Support Solutions (OSS) today. As pioneers in automated IVR solutions, service activation, service order assurance, and fall-out management systems, we offer an array of voice and data delivery options to help make the most of the interactions between a company's internal systems and its customers. We supply the conduits for the delivery of information to anyone, anytime, anywhere. In short, our product offerings connect systems to systems, systems to people and most importantly people to information. Herndon, Va.-based SkyCreek serves the largest companies in the communication industry today, as well as Integrated Communication Providers (ICPs), Multiple Systems Operators (MSOs), New Entrant Carriers (NECs), and cable companies. In addition, with the introduction of the Call Notify IVR Platform the company will begin serving the federal, state and local government agencies, financial services, healthcare, insurance, retail and travel markets.