LOD, Israel, February 20 /PRNewswire-FirstCall/ -- FutureIT Inc.
(FITI.OB), a leading provider of software solutions for the automated and
effective management of Microsoft SQL servers, today announced its
preliminary financial results for the fourth quarter of 2008.
Based on unaudited fourth quarter 2008 financial information, FutureIT
expects to report revenue of approximately $130,000 in the quarter ended
December 31, 2008, compared to approximately $122,000 for the same period in
2007. This is primarily as a result of increased sales in Israel. Estimated
revenue for 2008 is $624,000, compared to $232,000 for fiscal 2007.
"Although the global economic crisis impacted our revenue during the
fourth quarter, we are pleased by the increase in sales over fiscal 2007,"
said Shmuel Bachar, chairman and CEO of the company. "FutureIT's results for
2008 reflect the fundamental strength of our business model," continued
Bachar. "Our performance benefited from the strategies we've implemented
during the past six months, demonstrating EZManage SQL's potential and value
in today's market, while we have continued keeping a close watch on expenses
and on the bottom line."
Mr. Michael Shtarkman, Director of National Sales said "The Israeli
market continues to respond very positively to EZManage SQL and shows strong
indicators of additional growth in 2009. During the past year the number of
licenses sold has more than doubled from 360 licenses sold in 2007 to 724
licenses sold in 2008. Sales to major Israeli customers like Excellence
Nessuah, the Herzliya Interdisciplinary Center, McCann Erickson, and R.H.
Electronics, all entities with stringent requirements and who performed
extensive due diligence, are important milestones for FutureIT", says
Shtarkman. He continued, "FutureIT's new disaster recovery plan, or DRP,
provides a disaster recovery solution based on automatic backup and restore,
and allows the user to perform an automatic and continuous database copy
between different servers. The inclusion of the DRP in the backup and restore
module makes it particularly attractive to companies that did not previously
have a disaster recovery plan, and will allow them to save considerable
expense in the event of an actual disaster."
About FutureIT
FutureIT is engaged in the development, marketing, sale and support of
software products that provide easy-to-use comprehensive database management,
backup and monitoring solutions for both small and medium sized enterprises,
or SMEs, and larger enterprises, running different Microsoft Structured Query
Language, or SQL servers, versions 2000, 2005 and 2008, as well as Microsoft
SQL Server Desktop Engine, or MSDE and SQL Express.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Certain statements
contained in this press release are "forward-looking statements" within the
meaning of applicable federal securities laws, including, without limitation,
anything relating or referring to future financial results and plans for
future business development activities, and are thus prospective.
Forward-looking statements are inherently subject to risks and uncertainties
some of which cannot be predicted or quantified based on current
expectations. Such risks and uncertainties include, without limitation, the
risks and uncertainties set forth from time to time in reports filed by the
Company with the Securities and Exchange Commission. Although the Company
believes that the expectations reflected in such forward-looking statements
are reasonable, it can give no assurance that such expectations will prove to
have been correct. Consequently, future events and actual results could
differ materially from those set forth in, contemplated by, or underlying the
forward-looking statements contained herein. The Company undertakes no
obligation to publicly release updates to these forward-looking statements
made to reflect new events or circumstances after the date hereof. Neither
the Company nor its agents assume responsibility for the accuracy and
completeness of the forward-looking statements.
