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LAS VEGAS, January 29, 2015 - Rimini Street, Inc., the leading independent provider of enterprise software support for SAP AG's (NYSE: SAP) Business Suite and BusinessObjects software and Oracle Corporation's (NYSE: ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion and Oracle Retail software, today announced preliminary financial results for the fourth quarter and full year ended December 31, 2014.
Rimini Street's fourth quarter and full fiscal year 2014 results included record highs in net revenues, annualized subscription revenues, deferred revenues, active clients and number of customers electing multi-year, non-cancelable service periods.
The above information is preliminary and subject to completion of quarter- and year-end financial reporting processes and review.
"The strong demand worldwide for Rimini Street independent maintenance and support is reflected in our fiscal fourth quarter and full-year 2014 numbers and growth," said Seth Ravin, CEO, Rimini Street. "As we celebrate our 10-year anniversary in 2015 with nearly one thousand clients, including more than 100 of the Fortune 500 and Fortune Global 100 organizations, we remain laser-focused on helping clients achieve maximum value from their IT investments, while executing against our global business plan for growth and profitability."
Rimini Street is the leading independent provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs over a decade, including saving 50 percent on their annual support fees. Clients can remain on their current software release without any required upgrades or migrations for at least 15 years after switching to Rimini Street. Hundreds of clients, including global, Fortune 500, midmarket, and public sector organizations from across a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com or call within the USA 888-870-9692 or internationally +1 702-839-9671.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
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