SAN DIEGO--(BUSINESS WIRE)--Power Analytics Corporation announced today it posted a strong fourth quarter, ending a year in which the company solidified its position as a leader in the development of advanced electrical power management solutions. Over the past year, Power Analytics saw its customer list grow by 8%, surpassing 500 customers globally, across multiple industries in which electrical power serves as the “central nervous system” of the customers’ most mission-critical operations.
The company now has over 1,750 active licenses in the marketplace. While revenues and profitability were flat for the year, a more favorable revenue mix drove improved margins and better than expected bookings in the final quarter of the year. Software licenses as a percentage of revenue improved in the fourth quarter as well, rising by more than 10%. The company also formed and strengthened partnerships with industry leaders including Envirotrol, Rovisys, Intel and EnerNex Smart Grid Labs, which will favorably impact growth in the coming year.
“I’m pleased with the progress we made this past year, particularly in the fourth quarter,” said Michael J. Nark, President and CEO of Power Analytics. “Our ability to consistently deliver ROI for our customers by improving throughput capacity, decreasing energy costs, and favorably impacting downtime and maintenance costs will fuel our future growth,” he said.
Highlights from 2012 include:
- Design, simulation and modeling software demand grew by over 10%
- Recurring revenue grew by 19%
- Software maintenance contracts and renewals grew 12%
- Operational cash flow improvements of over 8%
- Named one of the top 12 companies to watch in 2012 by readers of Smart Grid News
- Awarded six new technology patents
- Released new versions of its electrical power monitoring software across multiple product lines
In addition, Power Analytics was selected to provide the first managed cluster of microgrids in a military environment in November and 2013 will mark the beginning of the microgrid cluster concept at three naval bases in San Diego, Calif.
Under the new leadership of Nark, the company will embark on “an aggressive sales and marketing campaign that will branch out into multiple market segments clamoring for smart grid technologies.” Power Analytics plans even more associations with strategic partners and technology-enabling companies in 2013, while continuing to develop and release enhanced versions of the company’s premier software.
About Power Analytics Corporation
Used by the power industry for more than 25 years, Power Analytics’ software solutions have surged to the forefront of the electrical system planning, operation and smart grid market space for use in energy-intensive, mission-critical facilities and microgrids. Paladin products currently protect more than $100 billion in customer assets including financial data centers, air traffic control sites, military installations, deep sea oil platforms, and power generation and distribution facilities. The company is headquartered in San Diego, Calif., and has a smart grid center of excellence in Raleigh, N.C.
Paladin, Paladin DesignBase, Paladin Live, Paladin SmartGrid, and Power Analytics are trademarks of Power Analytics Corporation. For more information about Power Analytics and its products, visit PowerAnalytics.com.