New York, NY—February 13, 2014—CAST, the leader in software analysis and measurement, today announced strong performance for fiscal 2013, with steady positive growth, important new customers, advances in key segments, and significant momentum heading into 2014.
Overall, the results for 2013 represent year-over-year revenue growth of 12.9 percent. CAST saw significant growth in the second half of the year, up 16.8 percent in Q3 and 25 percent in Q4, compared to the same periods in 2012. Additionally, the company has established a very solid, concrete pipeline for 2014, supported by a growing revenue stream from U.S.-, Europe- and India-based global systems integrators (GSI).
Several major trends have been driving adoption of CAST products. Applications executives continue to desire measurement of the underlying factors that influence their organizational productivity. This need has had a large impact on CAST business around adoption of automated function points (AFP) to measure the output of software development and enhancement efforts. This is in addition to the increasing number of outages and security breaches being experienced by IT-intensive institutions, leading executives to focus heavily on software risk management.
Last year saw CAST engage a number of new customers, including The Federal Reserve Bank, UnitedHealth Group, Huawei, RWE, and the FBI. Once again, many of these customers represent new areas for expansion and will provide multiple opportunities for future business. In Q4, Ovum, a major global IT industry analyst, issued a very positive analysis of CAST’s flagship technology – the Application Intelligence Platform.
Another important trend is that application development and maintenance (ADM) service providers continue to industrialize their software delivery centers, and increasingly see quality and productivity measurement as a cornerstone of this undertaking. In 2013, CAST saw major investment from big GSIs based in the United States and in India. Coupled with the recent wave of CAST-based ADM industrialization in Europe, a critical mass of the GSIs have standardized on CAST for their software measurement needs. As most of the largest GSIs have adopted CAST as their software analysis and measurement system, this market is tipping in favor of CAST as the de facto standard.
“As enterprises push to cut cost, reduce cycle time and increase IT efficiency, we are seeing more and more of a strategic sourcing shift, with IT executives demanding higher levels of control and visibility over productivity and software risk management,” said Vincent Delaroche, CEO of CAST. “For their part, the global systems integrators must prepare themselves for a strategic transition of their operating models from primarily time and materials to more of a managed services model.”
CAST is a pioneer and world leader in Software Analysis and Measurement, with unique technology resulting from more than $100 million in R&D investment. CAST introduces fact-based transparency into application development and sourcing to transform it into a management discipline. More than 250 companies across all industry sectors and geographies rely on CAST to prevent business disruption while reducing hard IT costs. CAST is an integral part of software delivery and maintenance at the world's leading IT service providers.
Founded in 1990, CAST is listed on NYSE-Euronext (Euronext: CAS) and serves IT intensive enterprises worldwide with a network of offices in North America, Europe and India.