REDWOOD CITY, CA -- 01/29/09 -- Nimsoft Inc., the "Big 4" alternative for IT performance and availability monitoring solutions, today announced its financial results for the three months ending December 31, 2008 and fiscal 2008. Overall, 2008 saw new bookings increase by 47 percent, driven by 162 new name customers for the year. Total bookings for 2008 were in the $40m to $50m range. Fourth quarter results set new company records for bookings, new customer count, backlog and recurring revenue. Bookings increased by 28 percent in the fourth quarter compared with Q407 as the company added over 50 brand new logo customers. Monthly Recurring Revenue (MRR) increased by 46 percent from Q407 to a record high while combined deferred revenue and backlog smashed previous quarterly records -- up 78 percent year-over-year.
 

"2008 was a remarkable year for Nimsoft across the board as we generated record results in recurring revenues, order backlog and the growth of our customer base," commented Gary Read, president and CEO of Nimsoft. "Our continued focus on quality, service and value has helped differentiate Nimsoft in a market looking for innovation and execution. Only Nimsoft offers a reliable, highly scalable performance and availability monitoring solution that can be delivered and operated for a fraction of the cost of traditional solutions."
 

Nimsoft added 162 brand name customers in 2008, many replacing pre-existing Big 4 solutions. While Big 4 providers continue to lose customers because of issues around price, performance and functionality, Nimsoft continues to win competitive bids by making effective Performance and Availability monitoring a reality by reducing the complexity and driving a rapid ROI. Customer growth came across a variety of key industries including Service Providers, Finance and Insurance, Education, Manufacturing, Energy, Consumer Goods and Healthcare.

Highlights for the year include:
 

-- Nimsoft successfully acquired Indicative Software adding business service management (BSM) and end-user response time monitoring capabilities to its current solutions for network monitoring, server monitoring, database monitoring, application monitoring and service level management (SLM). -- The company secured a second round of funding led by Goldman Sachs -- Dixon Fiske appointed VP Americas. Fiske joined from HP where he led a $660 million sales organization. -- Nimsoft established a new office in Australia as part of its business strategy for servicing the Asia-Pacific market. -- Received accreditation under the MSP Alliance's (MSPA) Vendor Accreditation Program (VAP). -- Nimsoft earned multiple industry awards including: - Ranked as the fastest growing systems management vendor by Inc. with 534-percent revenue growth over the last four years. - Named an emerging tech dynamo by CRN Reseller magazine for the second year in a row. - Named to Deloitte's 2008 Silicon Valley Technology Fast 50 as the fastest growing systems management company and 24th fastest growing company overall. - Named in JMP Securities' 2008 report, "Hot 100: The Best Privately Held Software Companies."
 

Nimsoft is the fastest growing provider of next generation performance and availability monitoring solutions for the complete physical and virtualized IT infrastructure. The Nimsoft solutions redefine the standards for ease of use and speed of deployment -- providing outstanding return on investment and unparalleled customer satisfaction. Over 750 customers in 30 countries rely on Nimsoft solutions to monitor their IT based business applications and services. These customers include mid-market and global organizations, such as Barclays Capital and Amway Corporation, Bay Area Rapid Transit, Ladbrokes, MTU Aero Engines, TriNet, TRW Automotive, and hundreds of leading managed service providers such as CDW Berbee, Easynet and Rackspace Managed Hosting. For more information, visit www.nimsoft.com.
 

Nimsoft and the Nimsoft logo are trademarks or registered trademarks of Nimsoft Inc. All other company and product names may be trademarks or registered trademarks of their respective companies.

© 2009 Nimsoft Inc. All rights reserved.