LAGUNA NIGUEL, Calif., Oct. 31, 2006 (PRIMEZONE) -- California Software Corporation (Pink Sheets:CSWX), a leader in Legacy Extension, Business Intelligence and loan production software for banks, credit unions and consumer lending institutions and developer of the award-winning BABY, Unibol, and INFINITE product lines, announced its inclusion in the Software 500, Software Magazine's list of the world's largest software companies.
"We are very pleased to be recognized by Software Magazine and to be named as one of the world's largest software companies. In the past year, we have increased our rank on the Software 500 based on our growth rate of over 21% during fiscal 2005. Obviously, we consider this achievement and the recognition provided by Software Magazine to be significant," said Bruce Acacio, CEO, California Software.
"Overall, the health of the industry has improved. Revenue for the 2005 Software 500 overall was $383.3 billion worldwide for 2004, an increase of 16.5% over the previous year, which had increased 14.1% over the year before -- showing that, in general, this industry continues to thrive. Total employees in the 2005 Software 500 increased 13.7% to 2,663,023, from 2,342,973 in the 2004 Software 500 and 2,173,716 in 2003. Employee growth was strongest in the segments of collaboration/project management, system integration services/IT consulting, and the supply chain/manufacturing software segment," says John P. Desmond, Editor of Software Magazine and Softwaremag.com.
The ranking is based on total worldwide software and service revenue for 2005. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co.
About California Software Corporation
California Software is a global provider of software and services for the legacy extension and financial services markets. The company is headquartered in Orange County, CA and operates globally from offices in Asia, North America, South America and Europe. The Company's products are marketed under the brand names BABY, Unibol, INFINITE and LPS. California Software enjoys over 100,000 installations in 56 countries.
About Softwaremag.com, The IT Software Journal
Softwaremag.com, The IT Software Journal, is the Web publishing effort of Software Magazine, a brand name in the industry for over 20 years. Softwaremag.com is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies, now in its 24th year. Software Magazine and Softwaremag.com are owned and operated by King Content Co., the Web content development and publishing firm run by John P. Desmond.