First Line Software Reports Strong 2010 Results, Expects Further Growth in 2011

Mar 14, 2011, 06:00 ET from First Line Software

NEW YORK and ST. PETERSBURG, Russia, March 14, 2011 /PRNewswire/ -- First Line Software, a premiere provider of custom software development services to industry leaders and growth companies around the world, announced today its impressive growth figures for 2010.

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While the global economy struggled to recover from the slowdown, 2010 proved to be extraordinarily successful for First Line. Having started the year with a team of 40 engineers, the company more than quadrupled its headcount in 12 months, bringing it to over 170. To accommodate the growing needs of its clients, First Line added two new delivery facilities, in Moscow and in Nizhny Novgorod, to the head delivery office in St. Petersburg. The locations for the new development centers that now employ over 40 engineers were strategically picked based on the demand for specific skill sets, and will help support the company's planned growth in 2011.  

Over the course of the last year, First Line signed 18 new clients across several industries, including financial services, e-commerce, media and publishing, education, logistics, healthcare, and the public sector. First Line's revenue for 2010 exceeded USD 4.5 million. Over 25% of this figure has come from engagements with domestic customers in Russia, with the rest split almost evenly between the US and Western Europe.

"We are happy to see First Line succeed and grow," said Ben Battle, Vice President of Product Development for ScriptLogic Corporation. "For a software vendor like ScriptLogic, picking the right development partner is crucial. First Line's technical expertise and solid project management, coupled with their proficiency in Agile methodologies, have made them an integral part of our product development group."

"Our success relies on delivering quality service to the type of discerning, experienced customers we tend to attract," said Alexander Pozdniakov, CEO of First Line. "Software product vendors and other software-enabled companies need partners capable of delivering 'industrial grade' projects, and in their vendor selection process, lowest cost takes a back seat to quality, competence and reliability. For these customers, First Line represents the right combination of experience, culture, size, and skills to give them the comfort level they are looking for in outsourcing. We will do our best to further capitalize on our strengths, and I am confident that First Line will enjoy continued growth in 2011."

About First Line Software

First Line Software is a premiere provider of product development and custom software development services. First Line's clients range from global industry leaders to medium-sized growth companies and startups in North America, Europe, and Asia. First Line is headquartered in the US and operates multiple software development centers in Russia. First Line's culture is grounded in technical excellence, effective communication, and proven methodologies, with a strong focus on Agile.

For more information please reach us at media@firstlinesoftware.com.

SOURCE First Line Software



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