[October 20, 2008] Rimini Street Achieves Record Quarterly Results Tweet LAS VEGAS --(Business Wire)-- Rimini Street, Inc., the leading independent maintenance and support provider for Siebel, PeopleSoft, and JD Edwards (NASDAQ: ORCL) software, today announced that it achieved record results in the third quarter of 2008, once again surpassing operating plans and sales goals. Building on record results in the first half 2008, Q3 2008 results set an all time record for new clients, sales bookings, invoicing, and revenue. Record Growth and Key Achievements For the third quarter of 2008, Rimini Street's revenue, bookings, and invoicing all more than tripled compared to third quarter 2007 results. Third quarter 2008 sales bookings and invoicing increased over 400% and revenue increased over 100% quarter over quarter compared to second quarter 2008. Based on strong year-to-date performance above plan and continued strong deal pipeline growth, Rimini Street is poised to exceed the high-end of 2008 operating targets. Key achievements in the third quarter of 2008 include: -- Delivered tax and regulatory updates ahead of Oracle's planned release date for similar updates -- Resolved hundreds of client support cases within guaranteed response time of 30 minute or less -- Expanded support operations with more than 20 additional highly-experienced engineers -- Signed a record number of new clients who selected Rimini Street's more robust, next-generation support service offering featuring several premium services at no additional cost Economic Uncertainty Creates Even Stronger Demand for Rimini Street Services "Rimini Street is helping a record number of Fortune 500, midmarket, and public sector clients save millions of dollars and drive more value out of their existing software investments by providing more than a 50% annual support cost savings and extending the life of current production releases through 2020 and beyond without having to perform expensive and unnecessary upgrades," said Seth Ravin, CEO and president, Rimini Street. "During these times of economic uncertainty and difficulty, Rimini Street's support services are providing our clients an even greater strategic cost advantage that they are able to implement quickly for immediate savings and benefits without having to make any changes to their system infrastructure, software or staff. As always, in good times and challenging times, we are aggressively committed to helping our clients achieve their business objectives." About Rimini Street, Inc. Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, next-generation program that enables Siebel, PeopleSoft, JD Edwards, and SAP licensees to save at least 50% in annual support fees and to remain on their current software release without any required upgrades or migrations through 2020 and beyond. Global, Fortune 500, mid-market, and public sector organizations from nearly all industries have selected Rimini Street as their trusted, software vendor independent support provider. To learn more, please visit www.riministreet.com or call (702) 839-9671. Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright (C) 2008. All rights reserved. [ Back To TMCnet.com's Homepage ]