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AskMe Corporation Announces Profitability
Despite Beaten Economy
Employee Knowledge Network Software Provider Maintains Quarter-Over-Quarter Revenue Growth, Strengthens Customer-Base and Deepens Existing Customer Engagements
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(SEATTLE, WA) September 16, 2002 - (www.askmecorp.com), AskMe Corporation the world leading provider of Employee Knowledge Network (EKN) software solutions, announced today that despite weak levels of IT spending and a tight economy, it achieved profitability in Q302. AskMe's consolidated revenues reflect a 100% increase over 2001, and based on existing contracts, sales pipeline and potential sales to existing customers, the company is projecting sustained profitability.
"Over the past 18 months the market has been extremely unforgiving and the state of the economy has forced customers and prospects to be increasingly guarded with their IT budgets. Investments are only being made in technologies that deliver hard ROI," said Udai Shekawat, CEO of AskMe Corporation. "Our customers are realizing significant business value with AskMe Enterprise, and as a result, we have successfully closed a multitude of new and follow-on deals that have contributed to the company's quarter-over-quarter revenue growth and strong financial position."
AskMe's newest announced customer wins include Ford Motor Company, Honeywell International, ABN AMRO Bank, Gerber (a subsidiary of Novartis), Network Appliance, Boeing and the National Crime Prevention Council. In addition to new customers, AskMe has also extended contractual engagements with existing customers that include P&G, an undisclosed Fortune 50 company, CNA Insurance and Intec Engineering. Shekawat continued, "Leading blue-chip companies are placing increased importance on proof of a software vendor's financial viability. As a result, they view AskMe's strong balance sheet and profitability as a significant differentiating factor among the vendors in our category."
According to Scott Oki, former SVP Microsoft and member of AskMe Corporation's board of directors, "Like the best companies, AskMe is relentless about executing on the details that make a business successful. I have seen first hand AskMe's ability to maintain a tight focus on customers, business metrics and bottom line performance. This company reminds me of Microsoft in the early years."
Shekawat commented, "This is a significant milestone for AskMe Corporation. Based on our list of blue-chip customers and financial strength, we are the leader in our category. As we continue to increase momentum in the marketplace and grow our business, AskMe remains completely focused on delivering significant business value to its customers and making further investments in both product development and our professional services, which are vital to our customer's success. "
About AskMe Corporation
AskMe Corporation is the world's leading provider of Employee Knowledge Network software solutions for Global 2000 companies. The company's flagship product, AskMe Enterprise, connects employees with problems to employees with solutions. By using AskMe Enterprise, large companies are dramatically improving the quality and speed of execution throughout their organization. AskMe's solutions been deployed by a robust list of blue chip companies that includes Ford Motor Company, Honeywell International, Procter & Gamble, ABN AMRO Bank, Gerber (a subsidiary of Novartis), Boeing and CNA Insurance, among others. Founded in 1999, AskMe is privately held with headquarters in Seattle, Washington. (Additional information at www.askmecorp.com)
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