January 21, 2010 – Atlanta, Montreal, and Birmingham (UK) - Vector Networks, a leader in IT asset and service management solutions, today revealed that the company has weathered the economic conditions well and experienced revenue resilience through the second half of calendar 2009.
Steve Knowles, CFO for the Vector group of companies, identified key aspects of the results saying, “New business represented 43 percent of overall revenue, virtually identical with 2008’s position. Existing customers showed great loyalty through this period, and maintenance revenue even increased significantly compared to the previous year during the second half.”
“As many customers seem to be remaining cautious on their business expansion plans, our revenues from expansion of their Vector IT asset management, IT support and Change Management installations also represented a smaller slice of income this year.
“However, toward the end of the year we saw a...