Varicent - Press Releases

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(Toronto, ON) – Varicent Software Incorporated, a market leader in incentive and sales performance management (SPM) solutions, today announced record results for its second quarter ended June 30th, 2006. The company achieved tremendous growth in the quarter, remained highly profitable, and continued to attract a significant number of new clients.

"Our record revenues and improved profitability reflect the success of our strategy," said Dan Shimmerman, Varicent's President and CEO. "Software license revenues for Varicent's flagship product, Sales Performance Management (SPM), grew at a much higher rate than we had anticipated. Our bottom line for the quarter was exceptional due to our revenue growth and the higher profit margins from increased licensed sales."

In the second quarter, new customers included Kyphon (Nasdaq: KYPH) in Sunnyvale, CA; Heritage Health Systems, a wholly-owned subsidiary of Universal American Financial (Nasdaq: UHCO) in Houston, TX; Copano Energy (Nasdaq: CPNO) in Houston, TX; Arrow Financial Group, a wholly-owned subsidiary of SallieMae (NYSE: SLM), in Niles, IL; Nimsoft in San Mateo, CA; Pacific Blue Cross in Vancouver, BC and Holt Cat, in San Antonio, TX.

In addition, Varicent continued to strengthen its partner and value-added reseller (VAR) network across the globe.

"We are firing on all cylinders at Varicent and it's a fun place to be," said Dan Shimmerman. "With a full month of third quarter now under our belts, it looks like we will shatter our projections for our full year 2006 results. We have earned the trust of our large, loyal and rapidly growing customer base, and are winning away business from our competitors, who have failed to match Varicent's superiority in product functionality, technology and customer service."

About Varicent

Varicent Software Incorporated is a leading provider of Sales Performance Management (SPM) solutions. Varicent's flagship product, Varicent SPM, enables organizations across multiple industries to effectively design and mange incentive pay calculations across the company. Varicent SPM is a web-based solution built on Microsoft's .NET framework, and its patented rules-based calculation engine can manage the most complex compensation plans. Varicent's homepage is http://www.varicent.com.