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Canalys sees a strong start to 2009 as industry spending
recovers
– Following on from a difficult fourth quarter in 2008
Singapore, Palo Alto and Reading - Monday, 27 April 2009
For immediate release
Canalys today announced its final results for its 2008 fiscal
year. Canalys recorded 2008 revenue of approximately €4.7 million
alongside a modest global net profit. Despite a disappointing end to
2008, the early signs for 2009 are positive. Canalys has already
hosted a successful Channels Forum and continues to win new global
customers for its industry leading smart phone research. Candefero,
its channel community, has grown significantly as the range of
content continues to expand.
Steve Brazier, Canalys President and CEO, said, ‘After a stellar
2007 performance we outlined our plans for a more modest performance
in 2008. The first three quarters of the year performed
approximately in line with those expectations, before we witnessed a
sudden drop in business during December. It was then that the
technology industry moved simultaneously into a period of panic and
applied a spending freeze. The only time that I have ever
experienced similar behaviour was back in the dark days of the third
quarter of 2001.’
He continued, ‘The good news is that much of the business we
missed toward the end of 2008 was delayed only until the first
quarter of 2009. The business environment in Q1 2009 has been much
more predictable. Budgets may have been set conservatively, but
these smaller amounts are being spent and we believe that we are
gaining share against our competitors. We anticipate our performance
for the first half of 2009 to come in ahead of expectations.’
Canalys has taken appropriate steps to manage itself through the
global recession. Most notably it has cut back significantly on the
number of events that it is running this year, as expenditure on
sponsorships and delegate revenue were both quickly impacted by the
economic slowdown. It has also taken the opportunity to realign its
continuous service portfolio, so increasing its focus on core areas
with growth potential, including unified communications, security,
netbooks and smart phones. It is also making further investments in
its core channel analysis activities, especially relating to
Candefero.
In 2008 Canalys generated 72% of its revenue from continuous
services, 4% from presentations and reports and the remaining 24%
from custom consulting and events. Alan Cardy, Vice President
Business Development, said, ‘Our globalisation strategy is working
perfectly, witnessed by the fact that for the first time ever in Q1
more than 50% of our sales were made outside EMEA. We will be
expanding our workforce in both the Americas and APAC during 2009,
and are increasing investment in certain strategically important
initiatives that will create tremendous potential for growth as we
come out of the recession. We continue to be one of the most
innovative analyst firms around, and our client renewal rate is
testament to the value of the information we provide. We expect to
be one of the analyst firms to emerge strongest from the current
climate.’
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 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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