SAS Record Revenue Of $2.3BSAS Record Revenue Of $2.3B
Squeezing 2.2% revenue growth out of recession-racked 2009, SAS posted record revenue of $2.31 billion while plowing 23% of that total, or about $530 million, back into R&D. And the company also said it kept its promise on layoffs.
February 7, 2010
Squeezing 2.2% revenue growth out of recession-racked 2009, SAS posted record revenue of $2.31 billion while plowing 23% of that total, or about $530 million, back into R&D. And the company also said it kept its promise on layoffs.In a statement, SAS founder and CEO Jim Goodnight said the company has entered 2010 with strong momentum and a highly motivated group of employees, which has been a hallmark for the privately held company across its 34 years of existence.
"In January  I told employees there would be no layoffs. I wanted them to stay focused on customer needs and not be distracted by issues related to corporate viability. The result is that we continued to grow in the downturn and we are ready to launch exciting new products in 2010." Citing strength in banking, government, healthcare, insurance, and retail, Goodnight said the overall financial-services sector grew during the year and now accounts for 42% of SAS's total revenue. In that forward-looking sector, interest was highest in customer intelligence, shifting business models, and regulatory requirements from governmental and central-banking authorities. SAS also said revenue grew for its retail accounts grew 12% in 2009 as those customers sought greater insights into how to price their products most effectively and stock their shelves in real-time with selections customized by not only regions but also individual stores. Business and predictive analytics figure to be among the hottest product sets for the year as CIOs look to deploy tools that help them anticipate and meet emerging trends and customer requirements. Overall, the company said it gained 1,389 new customers for the year, pushing its total global customer count to 45,000, including 92 of the Fortune 100.
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