Press Releases
Visual Mining Reports Positive Results for the year ended December 31, 2004
Rockville , Maryland - February 10, 2005 - Visual Mining, Inc., a leading developer of reporting and data visualization solutions, announced financial results today for the year ended December 31, 2004. The Company reported that business booked increased approximately forty percent (40%), and revenues increased approximately thirty percent (30%) over the same twelve-month period in 2003. Year over year, operating income increased over fifty percent (50%) and net earnings before taxes (EBT) increased eighty percent (80%). As the Company’s net margin before taxes increased to over fifteen percent (15%) for the year, net cashflow was significantly positive, and Visual Mining recorded its sixteenth (16th) consecutive profitable quarter.
"Our success in 2004 is a testament to the Visual Mining staff's creativeness, hard work, and genuine dedication to our customers," said Michael MacDonald, CEO of Visual Mining. "In the past year, the team has won industry recognition for our award-winning NetCharts® technology; we've worked tirelessly to improve every facet of our business in order to ensure a positive customer experience. We will continue executing our plans for further product development and top line growth, expecting even greater results in 2005."
Other highlights for the year include:
- Added or renewed relationships with approximately 400 customers;
- Professional services revenue increased over one hundred fifty percent (150%);
- Paid off over $600,000 in debt owed to the Company’s Investors;
- Headcount increased by over a third.
About Visual Mining, Inc:
Visual Mining builds interactive graphical reporting solutions for organizations needing maximum software flexibility and performance, but remaining within a reasonably priced budget. Visual Mining produced the first Java-powered charting engine in 1996. Since then, Visual Mining's NetCharts products have earned numerous industry awards, most recently, the 2003 Intelligent Enterprise Magazine’s Readers’ Choice Award for data visualization software, and was recently selected as a finalist in the Software & Information Industry Association's 20th Annual Codie Awards. For more information, please visit www.visualmining.com.
Editorial Contact:
Lezlie Ramsey
Marketing Manager
301.795-2217
lramsey@visualmining.com
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