Jolly Q1 FY 2010 Revenue up 15%
Jolly continues growth during reorganization.
SAN CARLOS, Calif. – Jul 1, 2009 – Today Jolly Technologies, the world's #1 identity software company, announced record sales for the quarter year ending May 31, 2009. Revenue for the quarter is up 15% over FY 09 and 84% over FY 08. Jolly maintained its growth pattern by securing yet another quarter of revenue growth and profitability.
Visitor Management Systems sales fueled the quarter’s growth with very strong sales increases in the Lobby Track product line.
"It is significant that we grew 15% in this challenging business environment, however, it was below expectation," said Sandeep Jolly, President of Jolly Technologies. "During this quarter the company reorganized and overhauled operations so that company can sustain future growth. I feel the upper management resources required for these activities distracted from revenue generation. I strongly feel it was worth the investment and it further strengthens Jolly’s foundation and makes Jolly much stronger, efficient and capable of handling future growth. Results of key measures are already showing up in Q2 FY 2010 and the company expects to announce significantly higher growth in Q2."
During the quarter, the company hired Lorna Papsdorf as Director of Operations to restructure financials and operations. She joins Jolly with a strong finance and operations background from Bear Stearns.
Jolly will announce a new product line and will also release new version updates to its existing line, with major new features, during July, 2009.
About Jolly Technologies
Jolly Technologies, founded in 2000, develops and distributes a suite of secure identification software products, including ID Flow, the world's #1 identification software, Lobby Track visitor/entry tracking software, access control software, and a variety of other custom security products. As the recognized leader in the rapidly growing secure identification market, Jolly Technologies is partnered with the industry's largest hardware manufacturers to offer complete solutions through our channel partners. Based in San Carlos, California, Jolly Technologies is one of the world's fastest growing software companies. For more information, visit www.jollytech.com or call toll-free 1-888-25-JOLLY.
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