Wellpoint Systems Reports Record Revenue and Net Income in 2009, Credits Success of Microsoft Dynamics AX Solution

Wellpoint Systems, the Calgary-based software vendor providing solutions to the oil and gas, mining and exploration, chemical, and utility industries, including an enterprise asset management solution for Microsoft Dynamics AX, reported its 2009 financial results today.  Revenue increased by 4 percent to $37.75 million (Canadian dollars), but net income increase by $30.8 million to $3.2 million, compared with a net loss of $27.7 million in 2008.  Net income per share was $.07 per share, as compared to a $.60 per share loss in 2008.

"2009 was a solid year for WellPoint as we made great progress toward our goals of strengthening our foundations and building for the future," said Mr. Richard Slack, President and CEO of WellPoint Systems. "Our strong results were driven by three key factors: commercialization and market launch of our new WellPoint Dynamics AX Energy Suite solutions; continued sales of our BOLO and IDEAS products to U.S. and global customers; and the ongoing and dedicated support of our employees. We now look forward to continuing this momentum into 2010 and beyond."

Wellpoint released AX EAM 5.0 on Dynamics AX 2009 in the year 2009, aimed at helping asset intensive companies to take advantage of core AX capabilities such as role-based user experience, business intelligence, workflow and requisitions.

Among its Dynamics AX related accomplishments in 2009, the company noted that it sold US$2.0 million of licenses for their Microsoft Dynamics AX solutions to QMENA, an oil and gas services company headquartered in the United Arab Emirates and a new Middle Eastern channel partner for WellPoint Systems. 

CEO Slack added, "The Company continues to increase its investment in the development of new and innovative products utilizing the Microsoft Dynamics AX architecture, as well as continued support and enhancement of the IDEAS and BOLO ...