Deltek's 2002 Investment in Product Development Leads the Software Industry

Source: Deltek Systems, Inc.
Herndon, Virginia – February 02, 2003 - Deltek Systems, Inc. ( Deltek, the leading provider of enterprise software and solutions for project-based businesses and professional services firms, today announced that its investment in product development for 2002 exceeded 24% of revenue for the year. In 2002, Deltek's revenue increased by 1% to $93.7 million, and product development expenditures increased by 14% to $22.5 million.

"Despite a flat economy, Deltek remains committed to a uniquely high level of investment in product development as compared to other software companies," said Ken deLaski, Deltek President and CEO. "The average public software company is only investing approximately 14.5% of their revenue in product development and, at 24%, we're in a league of our own. Our customers should take this as a strong sign that we're deeply committed to continued investment and improvement of each of our industry-leading product suites for project businesses and professional services firms."

Deltek, a private company, also announced that, once again, it achieved strong profitability and cash flow for the year ended December 31, 2002. This marks the 18th consecutive year of profitability for the company. In addition, the company added more than 300 new customers during the year in a variety of industries including aerospace, construction, engineering, IT services, consulting, architecture, and project-based manufacturing.

Additional milestones achieved in 2002 include:

  • Transition from a publicly traded company to a privately held company on May 31, 2002.

  • Release of Deltek Vision™, a Web-based and fully integrated professional services automation solution, during September 2002. Since its release, more than 200 customers have purchased Deltek Vision.

  • Entered beta release phase of Deltek Costpoint® 5 incorporating approximately product 170 enhancements throughout the software.

  • Release of new web-based versions of Deltek Time Collection and Deltek CRM & Proposals.

  • Release of Deltek GCS Premier™ 3 targeted to small and medium-sized government contractors.

    All figures quoted above are from Deltek's unaudited 2002 financial records. Although as a private company Deltek is no longer required to make audited financial data available to the public in SEC filings, the company will continue to make such data available to customers on an "as requested" basis.

    About Deltek

    With more than 8,000 customers, Herndon, VA-based Deltek is the number-five ranked provider of enterprise resource planning (ERP) solutions and the leader for professional services and project-based businesses. Founded in 1983, Deltek enables companies to maximize profitability and productivity, integrating all aspects of their businesses. Maintaining a focus on the architecture and engineering, IT services, management consulting, construction, systems integration and government contracting markets, Deltek clients include Bechtel, CACI, Centex, Computer Sciences Corporation, PricewaterhouseCoopers and Verizon.

    Deltek's family of products - including Deltek Enterprise™, Deltek Vision™ and Deltek GCS Premier™ - power a myriad of front- and back-office applications including accounting, billing, resource planning, budgeting and control, business intelligence, client relationship management and proposal automation, employee time and expense, HR management, pocurement and materials management and project management.