16 percent of Fortune 1000 Have Adopted Diligent Boardbooks Board Portal
NEW YORK, JANUARY 17, 2012 — Diligent Board Member Services (www.boardbooks.com) – the world’s leading provider of board portal software – announced today that more than 16% of the Fortune 1000 companies have adopted Diligent Boardbooks®.
“The application security of the Diligent Boardbooks iPad solution has provided Fortune 500 and Fortune 1000 companies the security they require and demand,” said Alex Sodi, President and CEO of Diligent Board Member Services, adding, “this, combined with the Boardbooks ease-of-use and our commitment to concierge-level training and support, has given Diligent a distinct competitive advantage over all other board portal products.”
Diligent now serves 163 Fortune 1000 companies, 29 of which were added during the Fourth Quarter. During the fourth quarter Diligent signed a total of 203 net New Client Agreements compared to 59 in the same quarter last year – an increase of 244%. Diligent now serves 1026 public and private companies, as well as over 1,500 boards and 27,500 users.
Diligent’s recently closed quarter marks some significant milestones for the company. It represents its sixth consecutive record-breaking quarter, recording additional New Sales of $ 6.0 million for the Fourth Quarter of 2011, an increase of over $ 1.0 million more than New Sales over the previous Third Quarter high, and an extraordinary 287% increase over the Fourth Quarter of 2010. Diligent’s Cumulative Sales increased to $ 25.7 million, more than two and one half-times the sales at the end of Fiscal 2010.
Revenue for Q4 2011 increased to $ 6.5 million, which brings 2011 Revenue to $ 18.0 million, more than double 2010 Revenue. Diligent also announced it will be profitable for the entire 2011 Fiscal Year on an operational basis for the first time in its history.
The sustained client growth over the past six record-breaking quarters combined with Diligent’s financial strength has solidified Diligent’s position as the world’s leading provider of board portals.
ABOUT DILIGENT BOARD MEMBER SERVICES, INC. (NZX: DIL)
Over 1,800 boards and 33,000 individual directors, executives and administrators worldwide rely on Diligent Board Member Services, Inc. to speed and simplify how board materials are produced, communicated and viewed. As the world’s most widely used board portal, Diligent Boardbooks® has pioneered ease of use, stringent security, and superior training and support since 2001. Today we are a public company with cumulative sales totaling almost $US 32.4 million. Our ranking in the 2011 Deloitte Technology Fast 500 places us among the fastest-growing technology companies in America. Diligent has offices located in New York (headquarters), Toronto, London, Sydney, Christchurch, Singapore and Hong Kong. Diligent Boardbooks® is a registered trademark of Diligent Board Member Services, Inc. with all rights reserved. ©2012 Diligent Board Member Services, Inc.
This document contains forward-looking statements within the meaning of the safe harbor provisions of the Securities Litigation Reform Act of 1995. Terms such as “expect,” “believe,” “continue,” and “grow,” as well as similar comments, are forward-looking in nature. Although the Company believes its growth plans are based upon reasonable assumptions, it can give no assurances that such expectations can be attained. Factors that could cause actual results to differ materially from the Company’s expectations include: general business and economic conditions, competitive factors, raw materials purchasing, and fluctuations in demand. Please refer to the Company’s Securities and Exchange Commission filings for further information.