LogNet Systems Announces Record Financial Results for 2009

Company sees continued growth and expansion in 2010 and beyond

(PresseBox) ( Yoqneam, Israel, )
LogNet Systems, a global provider of customer management and billing solutions for multiple play service providers, today announced strong financial results for fiscal year 2009. Despite slow economic conditions, 2009 proved to be a record year for LogNet Systems in terms of revenue, profitability and new business momentum. The company increased total revenue by 216 percent compared with 2008 and achieved EBIT of 16 percent.

During 2009, LogNet Systems won five new customers and performed significant upgrades for several key customers, while the value of the company's pipeline has more than doubled compared with the same period last year. Looking forward to 2010, the company's management strongly believes that LogNet Systems will capitalize on existing opportunities, expand into additional vertical markets and continue the company's rapid growth.

"The strong growth that we experienced in 2009 clearly demonstrates that telecoms realized the importance of ebilling and self service for cutting their operational costs," said Taly Eshel, President of LogNet Systems. "Moreover, our multiple play billing and customer care solution for telecoms and utilities has proven to enable our customers to achieve greater profitability and we are confident that the excellent references we won in 2009 will cement the continuation of our growth."
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