Art Technology Group second quarter 2007 revenue up 29%
2007 second quarter revenue for e-commerce platform vendor Art Technology Group Inc. hit $32.6 million, a 29% increase over Q2 2006 revenue of $25.2 million. Cash flow from operations for the second quarter of 2007 was $6.5 million, a 261% increase over $1.8 million in the second quarter of 2006.
Product license revenue during Q2 2007 reached $6.5 million compared with $9.1 million during the same period last year. Product license bookings, a measure the company defines as product license revenue recognized plus net change in deferred product license revenue, grew 34% year over year to $12.2 million for the quarter from $9.1 million in Q2 2006.
“2007 is shaping up to be a great year,” says Bob Burke, ATG president and CEO. “Growth in revenue and deferred revenue validates the increased demand we’re seeing for ATG solutions.”
During the second quarter, 11 new customers purchased ATG e-commerce solutions and 40 new customers purchased the company’s eStara click-to-call and other customer service technology. New and repeat business customers included AT&T, BOLS, Cabela’s, Cap Gemini, Clark American, Dell, Desigual, Hilton and IdeaForest.
At the end of the second quarter of 2007, ATG had $41.2 million in cash, cash equivalents and marketable securities.
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