Hansen Information Technologies announces year end results
Hansen Information Technologies, the leading e-government Citizen Relationship Management solutions company (www.hansen.com) today posted financial results for the twelve-month period ending January 31, 2001.
SACRAMENTO, Calif., Feb. 7, 2001 - Hansen Information Technologies, the leading e-government Citizen Relationship Management solutions company (www.hansen.com) today posted financial results for the twelve-month period ending January 31, 2001.
Hansen Information Technologies reported revenues of $17.5 million for the fiscal year and net income of $1.1 million. Earnings before interest, depreciation, amortization (EBITDA) and executive bonuses, was 20% of revenue. Demand remained solid for large-scale, enterprise eCRM solutions that deliver tangible business benefits for state and local governments, resulting in revenue growth for the year of 30% year over year. For the last five years, the company has maintained a compounded average growth rate (CAGR) in revenues of over 60% per year.
"We are pleased with the growth of our revenues and level of profitability for the year, demonstrating the continued demand for our e-government products," stated Charles A. Hansen, President and CEO of Hansen Information Technologies.
"Leading state and local governments are looking for ways to centralize their high volume applications, including call center, building permit, licensing, warehousing, utility billing, and work order transactions, and finding our one-stop eCRM business applications help them streamline government interaction with citizens and businesses. Our performance continues to reflect the adoption of our products by innovative government agencies with a strategic focus of supplying an enterprise eCRM business model. As a result, we continued to achieve dramatic advances in our business metrics. Hansen is well positioned in the early stages of an exciting and rapidly growing public sector market, with exceptional people, a profitable business model, and great customers."
Results for the year were impacted by a number of significant developments, including:
� The addition of 32 new government clients, including the cities of Austin, Baltimore, Chicago, El Paso, Fort Lauderdale, Louisville, Montgomery County, State of California, and Washington DC. The total number of clients served in the year was 300, representing over 66,700 product licenses.
� The successful completion of a Proof of Concept Phase for a statewide implementation of the company's products at Caltrans. Beginning in May 2001, the company will roll out its eCRM solutions throughout the State of California, for use by over 5000 Caltrans employees, to track and manage work orders and citizen service requests.
� The completion of the transition from a previous client/server architecture to component object model (COM) Windows DNA development environment, including the company's new DynamicPORTALTM web component that can be easily incorporated in existing state and local government web portals.
� Rollout of the company's Application Service Provider (ASP) hosting service allowing its eCRM product suite to be used by small-to-medium sized agencies.
� Development and testing of its PDA companion eCRM products, resulting from follow-on orders from several recent government clients.
� Creation of an Advisory Board to strengthen our relationships with leading government clients and focusing the business on reducing the time-to-market for new products and features.
For next fiscal year, revenues are presently expected to be in the range of $25 million to $30 million, excluding potential acquisitions. In contrast to transaction-driven business models where companies participate in the revenue stream between citizen and government, Hansen licenses its products and sells implementation services to enhance new and existing government web portals and back office transaction business processing, oftentimes eliminating traditional government legacy systems.
As a pioneering thought-leader in the e-government space, the company has differentiated itself by providing the following:
� Leading eCRM Analytics Platform The company offers the leading eCitizen Relationship Management analytics platform for state and local government. Hansen's platform has had an important impact on its government clients, allowing clients to track, measure, and optimize high volume business transactions by street address and contact name, able to link specific inquiries to specific touchpoints of government.
� A 360 Degree View of a Citizen The company has the ability of providing a 360 Degree View of a Citizen, resulting in superior service, cross-referencing of secure data and access to up-to-the-minute information resulting in government agencies that work together and are more efficient & effective.
� Enterprise Decisioning Network The company's seamless Enterprise Decisioning Network is the only multi-channel (i.e. Public Counter, Internet, IVR, Kiosk) continuous solution able to respond to citizen & business inquiries in real time.
� Flexible Enough To Be Business Specific The company's Windows DNA development allows its enterprise solutions to be easy to use, yet flexible enough to be business process specific for state and local governments.
About Hansen Information Technologies
Hansen Information Technologies is a leading software development company focused exclusively on Citizen-to-Government (C2G) and Business-to-Government (B2G) transactions.
With over 180 employees in offices throughout the United States, Canada, Australia and New Zealand, Hansen's broad range of enterprise eCitizen Relationship Management (eCRM) solutions include Call Center, Building Permit, Business Licensing, Code Enforcement, Public Works, Work Management, Tax Administration, Transportation and Utility Billing applications. Resulting from its Windows DNA development design, state and local government clients can implement one or more object sets utilizing a single integrated data model.
The combination of Hansen's public sector business process models, implementation methodologies and technical expertise enables Hansen to deliver tangible economic benefits to state and local governments. For more information, please go to the company's web site at www.hansen.com.