iET Solutions extends growth, leadership in it service management and software asset management markets with solid quarterly and annual fiscal results in 2009

Annual profit increased 118% and flagship product revenue increased 25% in 2009, iET Solutions’ sixth consecutive year of growth

iET Solutions, a leading global supplier of IT Service Management solutions, today announced continued, steady growth during fiscal year 2009, as well as solid results for the fourth quarter in 2009, both of which ended on December 31, 2009.  The announcement was made at the HDI Annual Conference at the Rosen Shingle Creek in Orlando, Florida, taking place March 15-19, 2010.

iET Solutions maintained a solid performance during the FY ’09 with revenues increasing 14%, compared with the FY ’08, which is twice the industry’s average growth rate. Compared to fiscal year 2008, iET Solutions’ overall profits in fiscal year 2009 increased 118% with the addition of 23 new customers and an increase in overall deal size by over 20%. The broad appeal of iET Solutions’ IT Service Management (ITSM) and Software Asset Management (SAM) products were a result of adoption by enterprise organizations and expansion in North American and Australian regions, as well as a continued strong presence in EMEA.  

“2009 was a challenging year for a lot of companies, as well as their clients. Fortunately, as our latest annual results indicate, iET Solutions was able to rely on the benefits our products bring to organizations to achieve a record breaking year,” said Walter Elliot, CEO of iET Solutions. “In 2009, we focused on strengthening our position in North America and EMEA as a leader in ITSM solutions, and entered into the SAM market with the industry’s first entitlement-based SAM solution, iET License Entitlement Center. In 2010, we’ll continue executing on that vision and listening to the needs of our clients in order to provide the industry with technology innovations that help increase the efficiencies of IT departments and reduce those organizations’ IT costs.”