Whippany, NJ (February 3, 2006) - Image Solutions, Inc., (ISI) a global technology company and a proven leader in delivering software and services solutions for electronic regulatory document submission and clinical trials management, reported a 35% increase in their 2005 revenue over the same period in 2004 with strong profit and cash flow.
Of particular interest, is ISI’s dramatic 120% revenue growth in the European corridor and increased presence in the Pacific-rim regions while continuing to maintain consistent market share growth in the United States. ISI reports a significant increase in the growth of major global projects with many of their larger clients and an increase in the number and diversity of projects for smaller to midsized pharmaceutical and biotechnology organizations. “Many of our clients are seeing the long term productivity benefits of adopting ISI’s suite of solutions and services for global implementations. All ISI software and service solutions are designed to meet the unique needs of our global customers and the emerging standards being set by regulatory agencies worldwide” said Peter Kim, ISI’s CFO/ VP of Finance. Mr. Kim added, “The tight integration of ISI’s three flagship products eCTDXPress®, ISIWriter™ and ISIPublisher®, that facilitate the authoring, lifecycle management and publishing of submission documents is gaining greater acceptance amongst global pharmaceutical organizations seeking the efficiencies that can be realized through web-based enterprise collaboration and multi-region submissions”.
“ISI has worked extremely hard this year to provide unique solutions for many complex requirements that our clients have requested. We have also completed our first acquisition this year, acquiring the Software Business Unit of Infodata a wholly-owned subsidiary of McDonald Bradley Inc., based in Herndon, Virginia.. That acquisition enhances our already strong technology position within the Life Sciences industry, and will serve to advance ISI’s expansion into new markets. The software technology we acquired as part of the acquisition adds a powerful set of sophisticated annotation software products and industry-leading compliance management capabilities to ISI’s already strong suite of products. Combined, the offering will represent a unique solution for organizations seeking to facilitate secure, compliant, enterprise-wide document content management across collaborative environments.” added Jinsoo Kim, President & CEO at ISI.
ISI provides regulatory and clinical software and services to 47 of the top 50 pharmaceutical organizations around the world, and to date has assisted their Clients with over 450 eSubmissions and 150 “electronic” Common Technical Document (eCTD) submissions worldwide. Peter Kim also stated, “We believe that this growth demonstrates a growing recognition by the worldwide pharmaceutical and biotechnology industry that ISI is a strong leader, in terms of value-added technology and professional services, that helps pharmaceutical sponsors reduce drug development and submission costs and bring products to market quickly.” ISI was also awarded Deloitte & Touche LLP’s New Jersey Technology Fast 50 Award for 2005.
When asked about ISI’s future plans, Jinsoo Kim summarized, “ISI is expected to add new products and services to our portfolio over the next year, and continue to grow our best-in-class technology approach with the addition of several new software products, and consulting services. All of this activity further improves our already strong balance sheet, and with our 12% reinvestment in R&D again this year, ISI is also proud to have continued a tradition of contributing 10% of net profit each year to charitable organizations, with specific contributions this year made to the Hurricane Katrina relief through The American Red Cross and about 20 other charitable organizations."