Jolly Q2 FY 2011 Revenue Growth Slows to 17%
Record Q2 Revenue Fails to Meet Expectations
SAN CARLOS, Calif. – Sep 10, 2010 – Today Jolly Technologies, the world's #1 identity software company, announced record sales for the quarter year ending August, 2010. Revenue for the quarter is up 17% over Q1 FY 10, but falls very short of expectations. Revenue for the first half of the fiscal year is up 26%.
“Our revenue growth is consistently missing our expectations and revenue growth curve is heading towards a marginal growth range,” said Sandeep Jolly, president of Jolly, Inc. “An unstable global economy is still a major factor, but we have to admit that we have failed to find creative ways to fight such challenges like other technology leaders who managed to outperform the market even in this volatile environment. Over the next two quarters we will focus on working smart and find creative ways to bring in close to expected success and not let slow global economy be an excuse.”
During the quarter Jolly announced technology integration with Lenel, Brivo and AMAG and is anticipating that integrated visitor management and access control systems will lead to strong corporate sales opportunities. Jolly will shortly announce partnership with distributor BlueStar whom is strategically positioned to increased sales across all four of Jolly’s product lines. Jolly’s announced technology partnerships and integration with Opticon, to provide attendance tracking solutions, and MK Denial, to provide screening of individuals deemed precarious by the U.S. Departments of State, Treasury and Commerce. Entering Q3 head count has increased and Jolly will continue to hire in both engineering and marketing departments.
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.
# # #
© 2010 Jolly Inc. All rights reserved. All other trademarks are the property of their respective owners.
Return to press releases