Press Release - January 03, 2007

For Immediate Release

PowerSteering Finishes 2006 With Record Performance

Significant New Customer Wins Drive 70% Revenue Growth

January 3, 2007

PowerSteering, the market leader in On-Demand Performance Improvement software, reported record sales and revenues for the fiscal fourth quarter and full year in 2006. Driven by significant new customer wins, substantial new business with existing customers, and a major new product release, PowerSteering increased year-over-year revenues by more than 70%.

PowerSteering successfully sold into several major industries including defense, financial services, healthcare, manufacturing, retail, technology, telecommunications, and utilities, extending its record of strong performance and further solidifying its market leadership position. Led by significant new customer wins at the US Army, US Navy, and US Air Force, PowerSteering has quickly emerged as the solution of choice for performance improvement and strategy execution throughout the Department of Defense.

Additional representative new customers acquired during 2006 include Applebee's, BAE Systems, Best Buy, Blue Cross Blue Shield of Minnesota, Boots, Charter Steel, ChinaChem, Covance, Erickson Retirement Communities, Hitachi, Huber, IPSCO, MTC Technologies, Molex, Navigant Consulting, NewPage, Nortel, Petronas, Portola Packaging, Washington Mutual, and several others.

In addition to strong sales achievement, in 2006 PowerSteering introduced PowerSteering 5, a major software release that redefines ease-of-use, reporting flexibility, and on-demand accessibility. Market demand for PowerSteering 5 surpassed projections and was validated not only by PowerSteering's customers, but also by an independent project tracking software review published in iSixSigma Magazine. PowerSteering's "best-in-class homepage," "best usability" and "best user interface" earned it the highest overall rating among software providers reviewed.

"We experienced breakthrough performance in every area critical to our continued growth. With strong sales momentum, customer satisfaction and loyalty at an all-time high, and the market's acceptance of our recent software release, we believe we are extremely well-positioned for another record year in 2007. We would especially like to thank our customers for their continued support and confidence during 2006," noted Stephen Sharp, PowerSteering's Chief Executive Officer.

About PowerSteering Software

PowerSteering Software is the leader in On-Demand Enterprise PPM software for Information Technology, Operational Excellence, New Product Development and other enterprise initiatives. Its easy-to-use software provides executives at the US Army, Raytheon, Ingersoll Rand, Merck, United Health Group, TD Bank, Washington Mutual, Seagate, Best Buy and over 120 other customers with executive visibility, strategy alignment, and enhanced team productivity to drive strategy and accelerate results across the enterprise. For additional information, please visit www.powersteeringsoftware.com

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For additional information:

Linda Duchin
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
617-995-5763

 

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