AskMe Corporation announces profitability despite beaten economy
By siliconindia   |   Tuesday, 17 September 2002, 19:30 IST
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SEATTLE: AskMe Corporation, a provider of Employee Knowledge Network (EKN) software solutions, announced Tuesday that despite weak levels of IT spending and a tight economy, it achieved profitability in Q302. AskMe's consolidated revenues reflect a 100% increase over 2001, and the company is projecting sustained profitability. "Over the past 18 months the market has been extremely unforgiving and the state of the economy has forced customers and prospects to be increasingly guarded with their IT budgets. Investments are only being made in technologies that deliver hard ROI," said Udai Shekawat, CEO of AskMe Corporation. "Our customers are realizing significant business value with AskMe Enterprise, and as a result, we have successfully closed a multitude of new and follow-on deals that have contributed to the company's quarter-over-quarter revenue growth and strong financial position." AskMe's newest announced customer wins include Ford Motor Company, Honeywell International, ABN AMRO Bank, Gerber (a subsidiary of Novartis), Network Appliance, Boeing and the National Crime Prevention Council. In addition to new customers, AskMe has also extended contractual engagements with existing customers that include P&G, an undisclosed Fortune 50 company, CNA Insurance and Intec Engineering. Shekawat continued, "Leading blue-chip companies are placing increased importance on proof of a software vendor's financial viability. As a result, they view AskMe's strong balance sheet and profitability as a significant differentiating factor among the vendors in our category." According to Scott Oki, former SVP of sales and marketing at Microsoft, and member of AskMe's board of directors, "Like the best companies, AskMe is relentless about executing on the details that make a business successful. I have seen first hand AskMe's ability to maintain a tight focus on customers, business metrics and bottom line performance. This company reminds me of Microsoft in the early years." Profitability is a significant milestone for AskMe Corporation. Based on the company's list of blue-chip customers and financial strength, AskMe is the leading vendor in the category. Shekawat commented, "As we continue to increase momentum in the marketplace and grow our business, AskMe remains completely focused on delivering significant business value to its customers and making further investments in product development and services--- both of which are vital to our customers' success."

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