MicroStrategy Continues Significant Success with Top Fortune 500 Companies
MicroStrategyâ??s Technological Advantage Identified as Key Factor
MCLEAN, Va., (June 24, 2002) –
MicroStrategy® Incorporated (NASDAQ: MSTR), a leading worldwide provider of business intelligence software, today reported continued significant success in generating new business with Fortune 500 companies. According to the 2002 Fortune listing of top domestic companies, MicroStrategy customers include four of the top five diversified financial companies, four of the top five commercial banks, and seven of the top ten pharmaceutical companies. Additionally, MicroStrategy boasts as customers eight of the top ten telecommunications companies and six of the top ten automotive companies in the Fortune 2002 Global 500 list.
MicroStrategy’s success with retailers, meanwhile, is reflected in the list of the “Top 200 Global Retailers,” from a report by Deloitte Touche Tohmatsu in conjunction with STORES Magazine. Six of the top ten global retailers ranked in that report are MicroStrategy customers.
“This is just more icing on the cake for MicroStrategy this year, as we have had a string of important positive milestones,” said MicroStrategy Vice Chairman and COO Sanju Bansal. He noted that MicroStrategy reported both pro forma and GAAP profitability for Q1 2002 and that it recently released the latest version of its award-winning business intelligence platform, MicroStrategy 7i, receiving very positive reviews from independent analysts and customers alike.
Bansal noted in Q1 2002 alone, MicroStrategy secured a multi-million dollar deal with CVS, the nation’s largest drug store chain, as well as new deals with such other leading companies as Best Buy, Telecom Italia and AstraZeneca.
“Our continuing success with Fortune 500 companies is due to the fact that our business intelligence platform offers capabilities that are ideally suited for large data and user bases — which other companies cannot fully match,” Bansal said. “And with the recent release of MicroStrategy 7i, the industry’s first truly integrated, Web-based, enterprise-class platform, our leadership is further extended.”
About MicroStrategy
Leadership in a Critical Market: Founded in 1989, MicroStrategy is a worldwide leader in the increasingly critical business intelligence software market. Large and small companies alike are harnessing MicroStrategy’s business intelligence software to gain vital insights from their data to help them proactively enhance cost-efficiency, productivity and customer relations and optimize revenue-generating strategies. MicroStrategy’s business intelligence platform offers exceptional capabilities that provide organizations — in virtually all facets of their operations — with user- friendly solutions to their data query, reporting, and advanced analytical needs, and distributes valuable insight on this data to users via Web, wireless, and voice. PC Magazine selected MicroStrategy 7(TM) as the 2001 “Editors’ Choice” for business intelligence software.
Enterprise-Class Business Intelligence: MicroStrategy 7i(TM) is a truly integrated, enterprise-class, Web-based business intelligence platform. With MicroStrategy 7i, enterprises can now standardize on one business intelligence platform and deploy high-value business intelligence enterprise-wide. MicroStrategy 7i’s configurable query, reporting, and OLAP Web interface is designed to support all users, from casual report viewers to power analysts.
Diverse Customer Base: MicroStrategy’s customer base cuts across industry and sector lines, with over 1,500 enterprise-class customers, including Lowe’s Home Improvement Warehouse, AT&T Wireless Group, Wachovia and GlaxoSmithKline. MicroStrategy also has relationships with over 400 systems integrators and application development and platform partners, including IBM, PeopleSoft, Compaq, and JD Edwards.
MicroStrategy is listed on Nasdaq under the symbol MSTR. For more information on the company, or to purchase or demo MicroStrategy’s software, please visit MicroStrategy’s Web site at http://www.microstrategy.com.
This press release may include statements that may constitute “forward- looking statements,” including its estimates of future business prospects or financial results and statements containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of MicroStrategy Incorporated and its subsidiaries (collectively, the “Company”) to differ materially from the forward-looking statements. Factors that could contribute to such differences include: the Company’s ability to secure financing for its current operations and long-term plans on acceptable terms; the ability of the Company to implement and achieve widespread customer acceptance of its MicroStrategy 7i software on a timely basis; the Company’s ability to recognize deferred revenue through delivery of products or satisfactory performance of services; the possibility that the conditions to the securities class action and shareholder derivative settlement agreements will not be satisfied; continued acceptance of the Company’s products in the marketplace; the timing of significant orders; delays in the Company’s ability to develop or ship new products; market acceptance of new products; competitive factors; general economic conditions; currency fluctuations and other risks detailed in the Company’s registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
MicroStrategy, MicroStrategy Business Intelligence Platform, MicroStrategy 7, MicroStrategy 7i are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.
Marc Brailov
MicroStrategy Incorporated
(703) 770-1670
mbrailov@microstrategy.com
Source: MicroStrategy