NEWS ROOM

Thunderhead Storms into 2009 with Record First Quarter Growth

Leading customer communications software provider thrives in tough economic climate by delivering significant cost savings

Irvine, CA - 07 May, 2009

Thunderhead, the leading provider of document automation and multi-channel customer communications solutions, today announced that it has achieved record performance in the first quarter of 2009.

Despite the tough economic conditions, the company signed a significant number of new customers in the financial services and insurance markets, including major deals with Unitrin, Admiral and Swinton, leading insurers in the US and UK.

As a result, Thunderhead accomplished an almost 50% increase in year-over-year revenues from the same period in 2008. In addition, profit for the quarter rose over 300% year-over-year, furthering the company's strong cash position.

“We are extremely pleased with our first quarter performance,” said Glen Manchester, CEO, Thunderhead. “This outcome is a testament to both the strength of our technology and the talent of our team as we continue to win new opportunities and take market share from more established competitors.”

Recently recognized as the fastest growing technology company in Europe, the Middle East and Africa in the 2008 Deloitte Technology Fast 500, Thunderhead is continuing to see significant strong demand in the market in spite of the current economic climate.

With the recession squeezing budgets hard, businesses are increasingly waking up to the significant cost savings that can be achieved through automating complex document processes and utilizing multi-channel communications.

Thunderhead was founded at the end of the "dot com" era, under similar economic conditions where customers were forced to carefully consider each and every technology investment. Proven to achieve immediate payback on investment, along with significant savings, Thunderhead NOW enables organizations to improve how they communicate with their customers to both increase retention and lifetime value, essential for sustaining the future of a company.

Thunderhead continues to be privately held, with no outside investment, and has been consistently profitable since first releasing its award-winning product, Thunderhead NOW, in November 2003.