Forecast Upbeat for CAST

Posted By Jonathan Bloom on May 12, 2011 | CAST News

I’d like to begin by offering a resounding THANK YOU to CAST’s worldwide roster of customers and partners. It’s because of you that the good news just keeps coming from CAST!

A couple weeks ago, we announced that Gartner had named us to their “Cool Vendors” list, counting us among the vendors that “approach the application services market with fresh ideas” and “have the potential to change or affect a market in a significant way.”

That approach and potential translated into significant business gains in the first quarter of this year and today we announced that CAST experienced an 18% increase in first quarter revenue over 2010. In addition, in the first quarter of this year we added a number of significant new customers and struck lucrative deals with important new partners, expanding a channel reach that already included some of the leading systems integrators in the industry.

This success has not gone unnoticed.

Two European equity analyst firms – Oddo Securities and Gilbert Dupont – have started coverage of CAST with “buy” ratings and a target price. Raphaël Hoffstetter, an analyst at Oddo went so far as to say, “Positioned in a recent market that is in an expansionary phase, CAST should benefit from specific levers, for which the signals have become positive over recent quarters.”

But while Hoffstetter points to the market for our success, we know that the key to our performance starts in two places – our customers and our partners. Our customers paved the way for software measurement in the IT industry and our partners have been our comrades in arms, either opening new doors for us or helping us implement solutions for new clients.

And because we cannot possibly thank you enough, I’d like to finish right where I started, by saying to our partners and customers:

THANK YOU!!!

Tags: automated analysis and measurement, CAST, CAST Partners, CAST-Enabled Services, corporate financials, Gartner