Wednesday, September 2, 2009

BlackLine Systems: Strongest Quarter Ever

Calabasas-based Blackline Systems reported Tuesday that the firm saw what it describes as its "strongest quarter on record" in Q2. The privately held firm, which develops software used by companies to reconcile their balance sheets, said it had an increase in revenues of 45 percent, and three times the number of customers signed versus the same quarter last year. Financial details of the increase were not disclosed. The firm said it signed Four Seasons, Unified Grocers, and Express Jet during the quarter. Blackline has previously disclosed it had revenues of around $2.4M in 2007, and nearly $5M in 2008, according to numbers from the Inc. 500 list.