Jolly Q1 FY 2011 Revenue up 38%
Jolly achieves decent Q1 growth, revises FY 2011 forecast
SAN CARLOS, Calif. – June 23, 2010 – Today Jolly Technologies, the world's #1 identity software company, announced record sales for the quarter year ending May 2010. Revenue for the quarter is up 38% over Q1 FY 10, but falls short of expectations.
“We have achieved decent growth in this highly volatile economic environment,” said Sandeep Jolly, President, Jolly Technologies. “Sales are up as a result of focused marketing and constant improvement of the product line. Our innovative technologies give Jolly a significant lead over the competition. However, the Euro crisis is quite serious and poses obstacles as challenging as the decade’s recessions. We are revising our initial prediction of triple digit growth for FY 2011. At this point, we are traveling through a very unpredictable economic storm that changes direction so frequently and so rapidly that it is difficult to make any clear predictions.
“Regardless, we are optimistic about the coming quarters and expect to maintain our track record of more than 5 years of uninterrupted growth. We are 100% committed to providing our customers with the best value for their money and adding to their productivity and efficiency with more innovative solutions.”
During the quarter Jolly invested heavily in online, print and tradeshow marketing. Version 5.0 of ID Flow and Lobbytrack was also released. This version includes new editions focusing on school and event markets, major deployments, integration with access control companies and additional scanning devices. Throughout Q2, Jolly will announce major new technology and sales channel partnerships as they become finalized.
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, Lobbytrack visitor/entry tracking software, Asset Track asset management software, Label Flow barcode label 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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