Expedia, Groupon, Lafarge SA, Tenneco Gmbh Among Recent New BlackLine Clients; Revenues up 51% in 1st Half of 2012 Company reports strong quarter on record revenues in Q2 with 56% growth; also shows strong international penetration as company continues to expand globally
LOS ANGELES, July 31, 2012 /PRNewswire/ -- Continuing on a strong corporate growth path, financial software provider BlackLine Systems reported record revenues in Q2, with 56 percent growth over the comparable quarter a year ago. Revenue also was up more than 50 percent for the first half of 2012 compared to the first half of last year.
Constellation Brands, Expedia, Groupon, Northwestern University and ValueClick are just a few of the new BlackLine clients that have signed on since the beginning of the year – joining an already impressive list that includes such household names as AT&T, Boeing, Northrop Grumman and United Airlines.
The company has added a large number of internationally based organizations recently, as well, such as Lafarge SA in France, Tenneco Gmbh in Germany, Fujitsu A/S in Denmark and Veolia Transport NSW in Australia, supporting the growing demand in the EMEA (Europe, Middle East and Africa) and APAC (Asia-Pacific) regions for the company's account reconciliation and financial close software.
Consultants from the world's leading accounting advisory firms Deloitte, Ernst & Young, KPMG and PwC continue to add 'BlackLine Certified Implementation Professionals,' strengthening their global capability in implementing the BlackLine Financial Close Software Suite. In addition to the 'Big 4,' Resources Global Professionals, a leading multinational provider of finance/accounting professional services, is also among a growing list of firms which already have BlackLine Certified Implementation Professionals in Europe and Australia.
In February, BlackLine held its second Annual European User Group Meeting in Brussels to serve the company's rapidly growing base of clients in the region. BlackLine's third Annual Australian User Group Meetings are planned in Sydney and Melbourne this September. BlackLine representatives also spoke at the Shared Services conference in Amsterdam in May. In June, BlackLine presented alongside SAP at the SAP Financials Europe show in Milan. The company has several additional trade shows and speaking opportunities lined up in Europe later this year.
Under CEO Therese Tucker's direction, BlackLine revenues were up by 50 percent in 2010 and 2011 and are on track to grow by at least that pace in 2012. The company has seen substantial revenue increases since moving to a Software-as-a-Service (SaaS) business model in 2008.
Tucker's passion, persistence and effort have paid off with BlackLine ranking No. 15 on the 2012 list of the '50 Fastest' Women-Owned/Led Companies in North America, as reported in The Wall St. Journal. In 2011, BlackLine was named a Red Herring 100 Global Winner – recognizing the company as one of the 'most innovative and promising' tech ventures in the world.
BlackLine also has been named to Software Magazine's prestigious annual list of the 500 largest software and service providers in the world.
BlackLine Systems was the first to develop and offer a commercially available Balance Sheet Account Reconciliation solution. An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process to help improve financial controls for companies of all sizes. BlackLine software applications complement existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.
BlackLine offers clients its enterprise-class software in a simple and secure OnDemand/SaaS platform. With a proven track record and a commitment to customer success, BlackLine seeks to reduce the burden the financial close places on accounting and finance professionals. For more information, please visit www.blackline.com
Director of Corporate Communications
SOURCE BlackLine Systems