Acceleware Achieves Sales Milestone
Calgary, Alberta – January 17, 2008 – Acceleware Corp. (trading symbol “AXE” on TSXV) is pleased to announce that the Company had shipped and invoiced sales of just over $1 million during the fourth quarter ended December 31, 2007.
“We are very encouraged to see demand for our products continuing to strengthen, as our recent sales and marketing initiatives begin to engage. We expect demand to continue to grow throughout 2008.” said Sean Krakiwsky, CEO of Acceleware.
For the first time in the Company’s history, Acceleware has achieved over $1 million in quarterly sales with contributions from three separate acceleration market verticals: Electromagnetic Simulation, Seismic Data Processing and Image Reconstruction.
Reported revenues in the financial statements for December 31, 2007 will report figures in accordance with GAAP and the Company’s revenue recognition policy, and hence, will be slightly different than the shipped and invoiced sales noted herein.
Acceleware develops and markets solutions that enable software vendors to leverage heterogeneous, multi-core hardware environments without having to rewrite their applications for parallel processing. This acceleration abstraction technology results in end-users achieving significant computing speed-ups and migrating vendor applications from single-core processing to multiple-core CPUs, GPUs or other acceleration products.
Acceleware solutions are deployed by companies worldwide to accelerate computer simulation and data processing applications in areas such as electromagnetics, oil & gas, medical and security imaging, industrial and consumer product design, financial, and academic research.
Acceleware's third-generation multi-board GPU solutions can accelerate simulation and processing algorithms by over 35 times, reducing data processing from multiple hours to minutes. Acceleware is a public company on Canada's TSX Venture Exchange under the trading symbol AXE. For more information, please visit www.acceleware.com.
Charlee Forbrigger, Acceleware Corp.
Forward Looking Information & Safe Harbour StatementCertain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. These may include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to all aspects of the high performance computing industry. These risks and uncertainties include, but are not restricted to, continued increased demand for the Company's products, the Company's ability to maintain its technological leadership in the field of hardware acceleration, the Company's ability to attract and retain key employees, defend itself against any future patent infringement claims, and the availability of key components.
These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.