YANTRA MAINTAINS STRONG MOMENTUM AND POSITIONS ITSELF FOR CONTINUED GROWTH
FedEx, Northrop Grumman and SYSCO Client Wins Highlight Ninth Consecutive Year of Revenue Growth
TEWKSBURY, MASS. – May 3, 2004 – Yantra Corporation (www.yantra.com), the leading provider of solutions for Fulfillment Excellence, today announced the company closed one of the most successful years in its history on March 31, 2004. The year was highlighted by strong client adoption, with FedEx, Northrop Grumman, SYSCO Corporation and others joining the company’s roster, and the achievement of key financial milestones, cumulating in Yantra’s ninth consecutive year of revenue growth. Yantra also made key management and board of directors’ appointments and drove increased awareness and recognition from industry thought leaders and the media.
"With the worst of the economic times past, companies are again exploring new avenues to grow their business, while continuing to stress minimal cost and risk," said Devdutt Yellurkar, Yantra’s president and CEO. "This renewed emphasis on growth, coupled with ongoing attention to the bottom line, translated into an extremely successful year for us. We saw an increase in new client acquisition and existing clients have expanded their use of our solutions across all of our key industries: retail, wholesale distribution, logistics and manufacturing."
Yantra financial highlights from the recently closed fiscal year:
Ninth year of consecutive revenue growth
20 percent overall revenue growth over the previous year
Cash-flow positive for the full year
10 percent increase in employee headcount
Fueled by the need to provide an enhanced and consistent customer experience while controlling costs, Yantra continued to see strong demand for its solutions. In addition to the companies listed above, examples of other clients that Yantra added to its roster in the past 12 months include Avery Dennison, CellStar Corporation, Lockheed Martin and Royal Mail. The company attributes the broad adoption of its solutions to its ability to directly address the key strategic and operational benefits its clients require. These benefits include delivering an enhanced customer experience through the integration of multiple sales and distribution channels, the reduction of costs in the supply chain, real-time visibility of assets regardless of location, and the ability to integrate and leverage existing IT systems.
"The momentum that we are experiencing is very gratifying and it validates Yantra’s early vision for Distributed Order Management and Synchronized Fulfillment," said Michael Grandinetti, senior vice president and chief marketing officer at Yantra. "Emerging from the long technology recession, the industry is realizing that ERP and custom-built solutions are not sufficient tools for solving today’s customer-facing and supply chain business challenges, and that packaged applications like Yantra are positioned to deliver greater benefits and faster time to value. Our 2004 fiscal year financial performance validates this trend, as does the strong client adoption by marquee organizations, acknowledgement from industry thought leaders and media coverage that we have received over the past year."
Yantra corporate highlights from the past year include advancements in the company’s products and technology, key personnel appointments and increased industry recognition.
Product and Technology Advancements:
Enhanced its flagship Yantra 5x product with the release of Yantra 5x Version 5.5. Additionally, the company fortified its go-to-market strategy and aligned its assets with key vertical industries. Yantra also released the Yantra Retail Solutions Suite and the Yantra Distribution Suite, providing retailers and distributors with focused solutions.
Introduced RFID-enabled applications to help customers comply with RFID mandates. Yantra guarantees customers will meet compliance standards set by Wal-Mart and the Department of Defense with respect to RFID technology and be positioned for broader implementation of the technology.
Key Personnel Appointments:
Named Teradyne vice president and CIO, Randy Stone, and Brooks Automation senior vice president, Software Systems Group, Joseph Bellini, to the board of directors to help guide the company’s next phase of growth and to bring expanded operations experience to the organization.
Based on the importance of a seasoned leadership team, Yantra hired chief marketing officer and senior vice president, Michael Grandinetti, to lead all elements of Yantra’s marketing and product strategy.
Expanded development and professional services operations in its Bangalore, India location.
Industry Recognition:
Generated increased awareness and validation from leading industry analysts for the company’s vision and completeness of solution. One example was the recognition of Yantra’s solutions by Gartner, Inc., as an exemplary application of Business Process Fusion, which Gartner defines as, "the transformation of business activities that is achieved by integrating previously autonomous business processes to create a new scope of management capabilities." Gartner also identified Yantra’s solutions as filling the complex order fulfillment gap as part of a Sell Side Electronic Commerce implementation. Additionally, AMR Research selected Yantra as one of the highlights from The National Retail Federation’s Big Show in January.
Named to the RIS News Leaderboard, an elite ‘who’s who’ of the retail industry’s top software vendors. Yantra placed first in the Quality of Service category, second in the Strategic Overall Value category and second in the Quality of Support category. Yantra achieved this high ranking despite the challenge from both large public companies and retail specialists. Yantra was also identified by STORES Magazine as a company to watch in retail for its ability to provide deep visibility into all aspects of order management, from the coordination of purchase orders through inventory and order status.
About Yantra Corporation
Yantra Corporation is a leading provider of solutions for Fulfillment Excellence. Yantra’s Synchronized Fulfillment Solutions deliver real-time, intelligent execution between the customer, operations, partners and the supply chain. Privately held and headquartered outside of Boston, Massachusetts, Yantra focuses on retail, wholesale distribution, logistics and manufacturing vertical industries, and works with world-class companies such as Argos, Best Buy, DHL, Motorola, School Specialty, Inc., Screwfix Direct, SYSCO Corporation, Target, Texas Instruments and Thomson. For more information call 888-2-YANTRA or visit www.yantra.com.
Yantra and the Yantra logo are trademarks or registered trademarks of Yantra Corporation in the United States and/or other countries. All other names are trademarks or registered trademarks of their respective companies.
Contacts:
Joseph Vukson
Yantra Corporation
(978) 513-6180
jvukson@yantra.com
Julie Mello
Horn Group, Inc.
(781) 356-7148
jmello@horngroup.com
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