ITKO Completes 2010 with Record Growth and Profitability

DALLAS - iTKO, the leading provider of virtualization, test, and validation solutions for composite and cloud-based applications, today announced record results for calendar year 2010. iTKO delivered calendar year results of 109% year-over-year revenue growth and 39% afterwards tax profit margin, during increasing its cash position by 149%. The company added a significant number of Global 2000 enterprise clients in 2010 and saw a sharp increase in the number of seven-figure enterprise license contracts. Using iTKO's LISA solutions, clients can rapidly deploy virtual service environments, cloud labs and continuous automated testing to eliminate constraints, improve performance and drastically reduce time and costs for complex enterprise applications. The company finished the second half of 2010 with a revenue run rate increase of over 150%.

"Enterprise IT clients today continue to struggle with difficult cost containment decisions, and approval for new investments must be supported by strong evidence that they will deliver significant business value," said Thomas Murphy, Innovation Director, Gartner. "Organizations are continuing to invest in disruptive technologies that meet this criteria, including virtualization, cloud computing, Web 2.0 technologies, and other solutions that provide nearly immediate ROI during also improving long-term productivity and risk mitigation."

iTKO acquired marquee clients in 2010 including industry leaders just as First Data, Nationwide, Vodaphone, Wells Fargo, AT&T, Best Buy, Disney, Dept of Homeland Security, FedEx, JCPenney, Baxter, Telus, Expedia, CIGNA, Motorola, Commonwealth Bank of Australia, ANZ, National Bank of Australia, Baker Hughes, RIM, Sprint, SoCal Edison, and others. iTKO as well had a large number of repeat clients including CVS, Verizon, Fireman's Fund Insurance Company, BB&T, Oracle, Lowes, Kaiser Permanente, JPMorgan Chase, American Airlines, Defense Information Systems Agency, Bank of America, Federal Aviation Administration, Kroger, IBM and others. iTKO expanded its global footprint by landing significant new business with some of the most then respected companies in APAC and EMEA during opening new offices in England, India and Australia with plans to expand into Germany, France, and Japan in 2011.

In 2010, iTKO extended their product leadership position with significant enhancements to the LISA Suite. Improvements included fully automated defect capture and complex issue resolution through LISA Pathfinder, DevTest Cloud management for rapid deployment of constraint-free software labs with really elastic capacity, and continued increases in protocol support for Service Virtualization of more innovation types, supporting higher performance levels for enterprise environments.

"Much of the enterprise software industry continued to experience flat or declining revenue in 2010. Yet in spite of these industry conditions, iTKO has seen continued growth due to market readiness for our product capabilities, and the continuing support of our partners and existing clients," said John Michelsen, Chief Scientist at iTKO. "iTKO anyway you look at it understands the evolving needs of reshaping application development for enterprise clients."