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Research Triangle Park, NC (July 22, 2003) -- Elsinore Technologies, elsitech.com, developer of the Visual Intercept enterprise issue management platform for managing the planned tasks and unexpected events (issues) associated with work, today announced that its earnings for the second quarter of 2003 exceeded expectations. Corporate profits accounted for 5.4% of revenue for the second quarter and kept the company on target with its annual projections.
"We are cautiously optimistic about our performance in 2003, primarily due to an improving but still unstable economic environment" said Ray Allen, CEO of Elsinore Technologies. Allen added, “Elsinore continues to enjoy a significant market share advantage in software defect tracking, while sales to other markets, such as project and regulatory compliance process management, have continued to be an area of interest."
An enterprise issue management solution allows all users in an organization to identify, prioritize, manage and communicate planned activities and unplanned events (or "issues") in real time over a common platform, enabling successful and timely resolution. As organizations have increasingly centralized IT functions during the past two years, the need for enterprise-level IT issue management solutions, Elsinore's core market, has grown dramatically.
To keep pace with this growth and address customers' requirements, Elsinore released Visual Intercept Enterprise Suite 3.5 this spring. One of the key enhancements to Visual Intercept 3.5 is its unique web-based integration to Microsoft Visual SourceSafe®. This integration allows all developers to work on source files within the context of their software development incidents. In addition to providing all essential source code control functionality over the Internet, the integration was written using the latest .NET technologies and is highly secure and efficient, providing data encryption and compression. To read more about Visual Intercept 3.5 please click here.
This service upgrade and the development of a completely new framework that will provide Elsinore with the tools needed to more quickly develop and deploy multiple customizable enterprise issue management solutions from a single platform are expected to drive dramatic revenue growth in the latter part of 2003 and beyond.
About Elsinore Technologies
A completely self-funded company since its inception, Elsinore Technologies, Inc., elsitech.com, was founded in 1995 to enable software development teams to better manage issues during all phases of the software development life cycle. Now, Elsinore Technologies' Visual Intercept enterprise issue management platform is the industry's only completely scalable, closed-loop system for managing both the planned tasks and unexpected events (issues) associated with work, which is an integral component of managing business processes. Visual Intercept's project-oriented approach to enterprise issue management is highly intuitive and easily customizable to meet the needs of each company and each user. Designed from the ground up to integrate with all Microsoft® development and productivity tools, Visual Intercept is a tightly integrated, best-of-breed platform that maximizes productivity and provides rapid ROI. Thousands of customers in 35 countries are benefiting from Visual Intercept in a diverse range of applications, from software defect tracking to project management to regulatory compliance process management.
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