SCT Education Solutions Market Unit Sustains Record-Breaking Performance; Market Unit Signs 220 New Contracts and More Than 300 Campus Pipeline Licenses
MALVERN, Pa., Aug. 16 /PRNewswire/ -- SCT Education Solutions achieved significant financial records in its third fiscal quarter with revenues up 15% from the third quarter of last year, it was announced today. SCT Education Solutions is a market unit of SCT (Nasdaq: SCTC), the leading provider of software and services solutions that manage relationship-critical information for the higher education market. This performance maintains the record- setting trend that began in the third quarter of 1997.
"We established an aggressive sales pace beginning January 1st and we haven't slowed since," said Rodney L. Everhart, president of SCT Education Solutions. "Since the first of the year, we have signed 220 new contracts for SCT systems. These contracts will provide us with a strong pipeline of future revenues and strengthen our continued dominance in the higher education market."
The market unit achieved all-time records in professional services revenue and maintenance revenue, up 47% and 13% from third quarter last year, respectively. In addition, the market unit achieved record total revenue, international revenue, professional services revenue, and maintenance revenue for a third quarter.
In addition, the company's alliance with college online services leader Campus Pipeline, Inc. continues gaining momentum. In the third quarter, SCT signed more than 300 new licenses for the Campus Pipeline(R) Web platform, a product of Campus Pipeline, Inc. available through SCT. This brought the total to more than 400 campuses (representing over two million students), beating original projections by five months.
The matters discussed in this press release that are forward-looking statements are based on current management expectations that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Potential risks and uncertainties include without limitation, the continued slowdown in the ERP market; the extent to which demand for the Company's products and services diminish over time as organizations resolve the year 2000 problem; continued market acceptance of the Company's products and services; the timing of the receipt of software licenses; competitive and pricing pressures in the markets which the Company serves; the Company's ability to complete fixed price contracts profitably; the timing of the receipt of services contracts and renewals; the Company's ability to develop and market innovative products and enhancements cost-effectively and on a timely basis; the ability of Campus Pipeline to complete and enhance its product; market acceptance of the Campus Pipeline product; the Company's ability to integrate the Campus Pipeline product with the Company's products cost-effectively and on a timely basis; the Company's ability to attract and retain highly skilled technical, managerial, sales and marketing personnel; general economic conditions; and other risks and uncertainties more specifically set forth in the Company's filings with the Securities and Exchange Commission.
SCT is the education market technology leader, providing software and services to support the business processes of higher education in more than 1,300 colleges and universities throughout the United States, Canada, and worldwide.
SCT solutions enable rapid business impact for clients. The company pioneers relationship leverage solutions, which help clients realign processes and information systems, define value propositions, and generate profit. SCT solutions help clients grow their businesses by leveraging key relationships with the entire supply chain, most typically customers, but also with channels, constituents, suppliers and key partners. SCT is a leading global provider of industry-focused solutions for higher education, manufacturing & distribution, utilities, state & local governments, and courts. SCT has over 3,700 employees and serves approximately 2,500 clients worldwide. The company is headquartered in Malvern, Pa. For more information, visit the SCT Web site at sctcorp.com.
SOURCE SCT Education Solutions
CO: SCT Education Solutions; SCT
ST: Pennsylvania
IN: CPR
SU: CON
08/16/99 12:24 EDT prnewswire.com
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