Amidst declining PC sales and increasing computer repairs, maker of #1 PC tune-up software extends its success streak with 63 percent revenue growth in 2008 and similar growth in 2009
LOS ANGELES, CA – April 6, 2009 – iolo technologies, the PC tune-up software experts behind #1 best-selling System Mechanic and award-winning DriveScrubber and Search and Recover, continues its five-year streak of unmatched success in spite of the uncertain economy, announcing impressive sales and revenue growth throughout 2008 and in the first months of 2009. Founded in 1998, the privately held company has enjoyed a sustained double and triple-digit annual growth since inception, with its first public recognition coming as a top-ten ranking on the Deloitte Fast 50 in 2004.
In 2008, iolo achieved revenue growth of 63 percent, as compared to a decline of 16 percent for the rest of the software industry in the US. In 2009, with industry sales in a further decline of around 15 percent in both January and February, iolo registered an ongoing revenue increase of 47 percent, even when compared to the significant growth recorded during these months in 2008, according to the most recent NPD Reports data. When compared with February 2007, this represents an increase of 214 percent.
iolo’s growth comes among further declines in the global and national economy and a number of emerging industry trends. Gartner is now forecasting a PC sales unit drop of 11.9 percent in 2009, the sharpest unit decline in history and nearly three times worse than the previous worst drop in 2001, when unit shipments fell 3.2 percent.[¹]
Replacement cycles for computers are predicted to be lengthened and a leading nationwide network of IT service professionals is already reporting that service calls to fix PCs have skyrocketed by more than 65 percent over the last 12 months, as more companies and individuals opt to fix rather than buy.[²] Further continuation of that trend is projected.
“Currently 82 percent of computers are dumped in landfills after only 30 months of use, mostly because they have become slow and unstable as a result of normal everyday usage. With the uncertain economic situation and dwindling budgets, iolo feels this trend will reverse as more consumers and businesses opt to delay purchases of new equipment by fixing and maintaining their existing machines,” says JJ Schoch, VP of marketing at iolo technologies. “With iolo’s strong focus on customer satisfaction, quality products, and very relevant technology, our aim is to breathe new life into aging PCs, keeping them in optimal condition for years longer and saving consumers and businesses alike some much-needed cash.”
ABOUT IOLO TECHNOLOGIES
iolo technologies, LLC, a privately held firm located in Los Angeles, produces award-winning software that repairs, optimizes, and protects computers running Windows. The iolo product line includes System Mechanic; System Mechanic Professional®, a comprehensive suite of PC tune-up and security tools; System Shield®, iolo AntiVirus™ and iolo Personal Firewall™, software for Internet security; Search and Recover™, a powerful data recovery tool that helps you recover lost files and photographs; and DriveScrubber®, a utility that permanently wipes data from hard drives. For more information see www.iolo.com.