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Acorn Systems Increases Revenue 176 Percent in 2003

Gains Citigroup, Sysco Foods, Charles Schwab, Target and Supervalu as Customers

Houston, TX — February 4, 2004 — Acorn Systems recorded a 176 percent increase in revenue in 2003, with greater than 468 percent quarter-over-quarter revenue growth. The company won multiple Fortune 500 customers in Financial Services, Retail, Healthcare, Consumer and other vertical industries in North America, while expanding into Europe with numerous customer implementations.

Acorn Systems Profitability Analysis and Improvement software has enabled its customers to achieve an average increase in net profit of 2 percent of revenue.

The company’s accomplishments in making its customers’ businesses more profitable were also recognized by leading management consulting, application and technology companies who formed or expanded partnerships with Acorn Systems in 2003. These include, Deloitte & Touche, CGE&Y, PricewaterhouseCoopers, Arena Consulting Group, The Performax Group, Stern Stewart, Answerthink, Cognos, and The Player Group.

“Our employees and partners made Acorn Systems 2003 success possible, but our greatest accomplishment in 2003 was the profit increases we were able to help generate for our customers and the recognition our customers received as a result,” said Leland Putterman, CEO of Acorn Systems. “This year we saw our customers named among Forbes Top Ten Turnarounds, Food Industry’s Innovator of the Year by ID Magazine, and Steel Service Center Executive of the Year by Metal Center News, a tribute to their diligence in increasing profitability and business efficiency.”

"Companies that effectively deploy Corporate Performance Management will outperform their competitors,” said Lee Geishecker, Research Director, Gartner, Inc. "Indisputably accurate costing information is an increasingly important part of any Corporate Performance Management solution, because it enables managers to plan and budget using business-oriented models that reconcile operations with financial results."

“A firm that can calculate the profit contribution of a given customer, product, service or supplier will have a competitive advantage and leading Activity Based Costing and Management solutions can assist with this process,” said John Van Decker, Vice President, META Group.

About Acorn Systems, Inc.
Acorn Systems is the leader in profit management and optimization solutions. Acorn Systems helps clients to measure, analyze, predict, and then optimize Net Operating Profits at any level of granularity desired including products, vendors, customers, even individual transactions, in order to maximize shareholder value. Acorn's clients come from many industries including Financial Services, Retail, Consumer Packaged Goods, Government, Telecommunications, Manufacturing, and Distribution in the Metals, Foods, Electronics, Paper, Healthcare and Chemicals industries. For more information, visit www.acornsys.com, or call 1-800-98ACORN.
    • With the help of Acorns profitability systems, we discovered that a select segment of accounts were the source of most of our profits, despite having lower gross margins. Acorn helped us shift our strategy and shift the way we served clients, resulting in a doubling of profits in less
    • than one year.
    • Ben Samuels, President
      Victory Packaging
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