FAST’s revenue grows 70% in Q2 and first half

Second quarter revenue at Oslo, Norway-based site- and enterprise-search technology company Fast Search & Transfer grew 70% to $24.1 million over Q2 last year, the company reports. Net income in the quarter reached $3.14 million more than double last year’s Q2 net income of $1.4 million.

First half revenue also was up 70%, reaching $45.3 million from $26.6 million. Net income almost tripled to $5.87 million from $1.8 million.

The company says sales growth was driven by growing demand for its FAST Enterprise Search Platform, Search Derivative Applications, and OEM enterprise search solutions.

"FAST signed on a record number of new customers during the quarter, and broadened a record number of existing relationships with follow-on sales," said Ali I. Riaz, COO and CFO.