Triple Point Technology Discusses 2009 Results
I had the opportunity to visit with Peter Armstrong, Triple Point’s president and CEO, a couple of days ago (look for an upcoming CommodityAlert interview with him in the next week or two). During our conversation, he spoke at length about Triple Point’s 2009 results.
Mr. Armstrong noted that for 2009 vs 2008, the company had an increase of 30% in revenues and a 55% increase in profits. He also pointed out that these results follow a year of tremendous growth in 2008, in which the company had increases of 139% in new license sales, 79% in profits, and 63% in revenues. In terms of the outlook for 2010, he said that their sales pipeline for this year is even stronger than in 2009 and he is confident the company will enjoy another record setting year.
Other 2009 highlights he noted during our call: the company closed two significant acquisitions during the year, Softmar and Enerbility Software Gmbh, and completed a total of 22 implementations in 19 countries.
These results are impressive, even more so when one considers the economic climate in 2009, particularly during the first half of the year. Triple Point does appear very well positioned to continue this level of growth. With perhaps the most diverse customer base in the market (both in terms of geographies and commodity coverage) and an expanding menu of functionality achieved in large part through acquisition, they will be able to take advantage of a expanding global economic recovery (if current trends continue), or to weather a downtown in any particular segment should the economy again sputter in 2010.