BlackLine Systems Reports Strong Q4'09; Annual Revenues up 50%

CALABASAS, Calif., Feb. 22 /PRNewswire/ -- Despite a difficult economy in 2009, BlackLine Systems has seen a 50 percent increase in annual revenues over the prior year for its flagship account reconciliation and financial close software.  The 2009 growth follows two previous years where the company's revenues doubled under CEO Therese Tucker's direction.

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"The proven return on investment that BlackLine provides to its clients has made BlackLine a 'must have' for accounting and finance departments, despite cuts in other areas," said Tucker.  "The number of new clients in Q4 was our second highest ever."

Some of the new clients added in 2009 include Unified Grocers, Four Seasons, Rackspace, Express Jet and Hawaiian Airlines.

Additional accomplishments from the past year include a healthy expansion of professional staff across all areas, with a focus on training, support and implementation; the completion of an unqualified SAS 70 Type II audit, verifying both the security of client data as well as the quality of BlackLine's scalable business processes; and an updated website that reflects the company's proficient approach to delivering value via software as a service (SaaS).

BlackLine was also the recipient of numerous accolades in 2009, including a No. 113 ranking on Inc. Magazine's list of the fastest-growing private companies in the United States, a No. 6 spot on the Los Angeles Business Journal's (LABJ) list of Fastest-Growing Private Companies in the Greater Los Angeles region, recognition as a finalist in two categories from the Stevie Awards for Women in Business, and multiple prestigious product awards for ROI (return on investment) from Nucleus Research.

"We believe that 2010 will be a banner year for BlackLine," added Tucker.  "Our focus remains on taking care of clients and delivering software that provides them with extraordinary value."

About BlackLine

Founded in 2001, BlackLine Systems was the first to develop and offer a commercially available Balance Sheet Account Reconciliation solution. An experienced provider of software to companies from the Fortune 100 to beyond the Fortune 1,000, BlackLine provides quick-to-implement, scalable and easy-to-use applications that automate the entire financial close process to help improve financial controls for companies of all sizes. BlackLine software applications complement and are an integral component of existing Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Enterprise Resource Planning (ERP) systems.

BlackLine offers clients its enterprise-class software in an easy to implement OnDemand/SaaS platform. With a proven track record and a commitment to customer success, BlackLine seeks to reduce the effort the financial close places on accounting and finance professionals. For more information, please visit www.blackline.com.

SOURCE BlackLine Systems

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