Nimsoft CEO Gary Read continues to share reassuring information through his personal blog. In a November 3 entry, Read writes about Nimsoft's Q3 performance and provides some key year-over-year comparisons. Here's a sampling of this thoughts.
In the blog entry, Read writes:
"Another outstanding set of results, led by very strong managed service provider revenue.
40 brand new logo customers (equaling the record set last quarter), and overall 30% new order growth (we had a very strong comparable in Q3 2007, with 2 of our largest ever contracts closed).Generally speaking, Nimsoft targets the higher-end of the market compared to rival MSP software providers like Kaseya, N-able and Level Platforms. (If anyone would care to flame me for that assertion, please do so politely.) Nimsoft spends considerable time positioning itself as a cost-effective alternative to CA Unicenter, IBM Tivoli, HP OpenView and BMC.
Best of everything though was the subscription revenue, more than doubling year on year. This is the revenue that is primarily driven by MSPs and shows the amazing growth of our MSP business."
Read's comments come a few days after Ingram Micro Seismic VP Justin Crotty told me his business unit had its strongest September ever. And DirectPointe, the top ranked managed service provider in last year's MSPmentor 100 report, just disclosed record financial results. Those are reassuring perspectives, to be sure.
Still, I sense that the overall managed services market hit a few bumps and slowed a bit in October -- when Wall Street turmoil and the credit crisis went from bad to horrendous.
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