CAST Reports Significant Growth in First Half of 2015 with Increased Revenue, Clients
Greater need for deep software analytics drives adoption among global leaders in insurance, finance and other sectors
NEW YORK, July 28, 2015 – CAST, the world leader in software analysis and measurement, today reported financial results from the company’s latest fiscal quarter, showing a fifth consecutive period of double-digit financial growth.
CAST reported its revenues grew by 21 percent in the first half of the company’s fiscal year, ending June 30, from the same period last year. The growth is reflected in the company’s stock price, which has risen by 24 percent in the last year. During the second quarter of 2015, CAST earned new or additional business from global industry leaders such as Allianz, ING, Natixis, Northrop and Crédit Agricole. More than one-third of CAST’s customers are listed on Forbes magazine’s “Global 2000.”
The company also reported during its second quarter:
- A global and strategic partnership with the Boston Consulting Group;
- Compliance with ISO 27001 certification for Information Security Management Systems;
- Issuance of the SAP CRASH report, which discovered numerous coding errors in custom SAP applications; and
- Rollout of the upgraded version of CAST Highlight (www.casthighlight.com), offering advanced benchmarking to assess software risk, complexity and size across large IT portfolios.
CAST’s diagnostics are based on industry measurement standards from the Consortium for IT Software Quality (CISQ). They assess the risk, structural quality, security, and cost of maintaining an application, and are designed to provide a significant return on investment (ROI) by enabling management to control their core software assets.
“CAST analytics have become a vital tool for many IT executives who want to revolutionize the way they do business, in an era of digital transformation,” said Vincent Delaroche, CAST’s chief executive officer. “Controlling the robustness, efficiency, security and changeability of core applications is a must, so they can stay ahead in the global marketplace.”
CAST (Euronext: CAS) is the world leader in software analysis and measurement, with unique technology that introduces fact-based transparency into application development and sourcing, transforming it into a management discipline. More than 250 companies across all industry sectors globally, one-third of them listed on the Global 2000, rely on CAST to prevent business disruption while reducing their hard IT costs and software risk. CAST is an integral part of software delivery and maintenance at the world's leading IT service providers. Founded in 1990, CAST serves IT-intensive enterprises worldwide with offices in North America, Europe and India.
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