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Revenues surge, as Canalys expands coverage areas
- Turnover increases by 49%, benefiting from global investment
Reading, UK - Monday, 16 April 2007
For immediate release
Canalys enjoyed a monumental year during 2006, as it executed
upon its goal of becoming recognized as a first-tier global analyst
firm. It opened offices in Singapore, moved to larger UK
headquarters and made a successful entry into the events business.
At the same time it significantly expanded its product portfolio and
analyst headcount. It closed the year with revenues of around €4.2
million, up from €2.8 million in 2005. This growth has, as always,
been achieved profitably and been internally funded. This healthy
platform has allowed Canalys to continue to plan for further growth
in excess of 30% during 2007.
Steve Brazier, president and CEO, said, “We had many successes
during the year, with outstanding results being achieved by the
portfolio of navigation services and the custom consulting business.
We took on many major challenges and achieved against them all,
including the expansion of headcount by over 40%. In 2007 we will
concentrate on capitalizing on this investment and the worldwide
expansion of our product portfolio. Headcount will still increase,
but more conservatively, as we recognise the importance of combining
steady growth with the maintenance of high standards of service
quality. We will most likely embark on our next phase of geographic
expansion during 2008.”
Alan Cardy, vice president, added, “We expect to see growth
across the board in 2007, but one or two areas deserve special
mention. Our events division has quickly established itself as an
important contributor to growth. The inaugural Canalys Channels
Forum will be the most prestigious channel event taking place
anywhere in EMEA, and boasts Cisco, HP and Microsoft as its founding
sponsors. We will also be building on the success of the first
Canalys Navigation Forum with an even larger event in Barcelona this
year. New research programmes covering IPTV and the digital home
will extend our customer reach. The provision of APAC regional
services run from our Singapore office will open new horizons for
us. I believe we have also reached a tipping point within our
consulting division, which has had an unprecedented start to the
year. Clients recognize the unique capabilities that Canalys
possesses based upon previous experience of channel consulting work
commissioned, and word of mouth is working in our favour in a
spectacular fashion.”
In 2006 Canalys generated 71% of its revenues from continuous
services, 5% from presentations and reports with the remaining 24%
derived from custom consulting and events. Chris Jones, vice
president and principal analyst, said, “We strive to differentiate
ourselves both by the quality of our work and with the service we
provide to our clients. The renewal rates for our services are
exceptionally high and we know that this is the biggest single
factor in determining our future ability to grow. The reception that
we have already received in the fast-growing APAC region is
extremely positive and we will continue to launch new services and
recruit additional staff there during 2007. Our new client web site
has improved our ability to cross-sell to our client base and new
delivery formats illustrate our desire to keep innovating.”
Steve Brazier concluded, “None of this success would have been
achieved without the hard work, enthusiasm and dedication of
everyone at Canalys. Our board cares most about attracting,
developing and retaining a talented and international team. We would
like to take this opportunity to thank them and together we look
forward to making 2007 a year of noteworthy overachievement.”
Note to editors: all financial results are given for guidance
only. Canalys.com ltd’s financial year ends December 31.
About Canalys
Canalys specialises in delivering high quality market data,
analysis and advice to the world’s leading technology vendors. It is
recognised as a key provider of continuous advisory services and
confidential custom projects for marketing managers and strategists
within blue-chip IT, telecoms, navigation and consumer electronics companies. It
has unrivalled expertise in European routes to market for all kinds
of high technology products and services in the consumer, SMB and
large enterprise segments, and provides worldwide market data and
trends analysis.
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