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Tidal Software: Article

Tidal Software Announces Strong Second Quarter Results, Delivering Eighteenth Consecutive Quarter of Profitability

Combined Automation and Performance Management Solutions for IT Operations Drives Continued Success

Tidal Software announced results for the second quarter of fiscal 2008, ending December 31, 2007. Total revenue increased nearly 30% year over year for the first half, continuing the company’s strong growth.

The company delivered its eighteenth quarter of profitable results and continued to be cash-flow positive. The company also continued its drive to acquire new customers, again achieving over half of new license revenue for the quarter from new accounts. Company officials attribute continued growth to the increasing market interest in solutions for automation in IT operations.

“Automation for IT Operations is gaining attention in the market as the only answer for effectively managing cost and service level delivery,” said Flint Brenton, CEO and President of Tidal Software. “From basic issues in managing application performance to complex initiatives to achieve consolidated, virtualized data centers, automation is the key to cost effective execution and consistent service delivery for IT.”

Tidal’s integrated application scheduling and performance management solutions bring together operational, diagnostic, and corrective action processes, increasing the depth and breadth of automation that can be achieved in IT Operations. The resulting automation of IT processes not only reduces the costs associated with ongoing operations, often referred to as “lights on” activities, but also quality and consistency of the level of service delivered to the business.

For the quarter the company saw continued strength in its performance management products with new customer wins including The Kellogg Company, Thomson Corporation, R+V Allgemeine Versicherung AG, and Massachusetts Mutual Life Insurance. New customers for the quarter spanned many market segments with financial services, healthcare, and insurance segments leading the results. Additional new customer wins included Centene Corporation, Netflix, Equitable Resources, TransUnion, County of Marin, Baylor College of Medicine, Accident Fund Insurance Company, Diamond Foods, and Crown Castle.

In the second quarter Tidal Software announced general availability of Tidal Enterprise Scheduler 5.3.1 offering new capabilities to further extend the reach of its solution with updated connectivity for Oracle E-Business Suite 12, Microsoft Vista desktop and Windows Server 2008, and SAP 7.0. The offering demonstrates Tidal’s ongoing support for standardization of job scheduling across heterogeneous, geographically dispersed, and evolving IT environments. Tidal also continued development of its international presence opening a new EMEA Corporate Headquarters in Maidenhead, UK.

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