Pegasystems today announced financial results for the year and fourth quarter ended December 31, 2009. Revenue for 2009 increased 25% to $264 million compared to 2008. Net income for 2009 nearly tripled and increased to $32.2 million.
The Company generated $49.6 million in cash from operations and had $202.7 million in cash, cash equivalents, and marketable securities as of December 31, 2009
“Our business showed continued strength in 2009, highlighted by our second consecutive year of 50% license revenue growth,” said Alan Trefler, Chairman and CEO of Pegasystems.
“Growth has been driven by the pragmatic benefits that our patented Build for Change® technology delivers in helping our clients increase market share, improve customer experience, and reduce operating costs.”
“We have been able to deliver a rapid return on our clients’ investments, with many of their Pegasystems projects paying for themselves within a matter of months. Our clients continue to tell us that our software’s unique ability to directly capture their business objectives radically improves collaboration between business and IT. This has resulted in exceptional quality and speed to market for their business applications, enabling them to rapidly seize new growth opportunities,” concluded Mr. Trefler.
Trefler will be co-hosting a conference call and live Webcast associated with this announcement at 9:00 a.m. ET on February 23, 2010. Dial-in information is as follows: (877) 638-9568
(domestic) or (914) 495-8529 (international).
To listen to the Webcast log onto http://www.pega.com at least 5 minutes prior to the event’s broadcast and click on the Webcast icon in the Investor Relations section. A replay of the call will also be available on http://www.pega.com in the Investor Relations section Audio Archives link.