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PHD Virtual Technologies Records Fifth Consecutive Quarter of Strong Growth

PHD Virtual Technologies, pioneer and innovator in virtual machine backup and recovery, achieved exceptional product bookings in the third quarter of 2011 and recorded its fifth consecutive quarter with year over year quarterly growth of 50% or higher. Quarterly results were highlighted by strong growth in revenues from both existing and new customers. Compared to the third quarter of 2010, quarterly revenues grew 50% and new customer acquisition grew 100% on a year over year basis. The company continues to see strong growth worldwide with 60% of revenues coming from domestic customers and 40% from international customers.

During the quarter, the company saw great success with the introduction of PHD Virtual Monitor which offers a better, more complete solution for monitoring VMware and Citrix XenServer environments. New and existing customers demonstrated a strong bias towards acquiring PHD Virtual Backup and PHD Virtual Monitor together to enable easy, scalable, cost effective data protection and monitoring. The company saw an increasing trend of customers purchasing both VMware and Citrix versions of its backup and monitoring solutions to support cross hypervisor deployments, supporting market research trends that many customers are using more than one virtualization platform.

The quarter was also highlighted by the announcement of the upcoming PHD Virtual Backup and Replication Version 5.3 which will deliver an integrated solution for virtual machine backup, recovery and replication. The new release includes a more optimized and efficient solution for virtual machine replication and disaster recovery as well as significant performance optimizations that will set a new benchmark for scalable, high performance data protection on VMware and XenServer platforms. PHD Virtual Backup and Replication version 5.3 is currently in beta release and will be generally available in the fourth quarter.

"The business achieved excellent results during the quarter and has strong momentum demonstrated by record growth over the last five quarters," said Thomas Charlton, Chairman and CEO, PHD Virtual Technologies. "We continue to achieve significant competitive wins against vendors including Symantec, Veeam and Quest driven by our ability to provide robust solutions that are cost effective and easy to use. The success of our data protection and monitoring products demonstrates that people are looking for easier, more cost effective solutions to monitor and protect their growing, multi-hypervisor virtual environments."

Published Wednesday, October 05, 2011 6:56 PM by David Marshall
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