GlobalSpec Continues Impressive Growth & Delivers Record Profitability In 2008Milestones Include Record EBITDA and Expanding Margins; Worldwide E-Newsletter Circulation Grows to 7.6 Million with Over 60 Titles; Expansion into New Vertical Markets; Continued Growth of Award-Winning CR4 Community Site/Professional Network; Added 750,000+ Registered Users in 2008Troy, NY – (Business Wire) – 1/28/09 – In spite of the deeply negative macro-economic landscape and recessionary conditions in its markets, GlobalSpec (www.globalspec.com) continued to impressively grow its revenues, customer base and product platforms in 2008. GlobalSpec is the leading specialized search engine, information source, e-publisher and e-media company that serves both the buy-side and sell-side of the engineering, industrial, manufacturing and related technical marketplace. In 2008, GlobalSpec, a privately held company, achieved record levels of profitability. On a year-over-year basis, the company delivered EBITDA growth of 171% and margin expansion of 148% from prior year levels. GlobalSpec added over 750,000 net new registered users to its registered user base, and will surpass 5 million total registered users in Q1 2009. In addition to its core registered user base, the company also now provides product alerts to over 1 million subscribers and grew its worldwide circulation base of its e-newsletter suite to 7.6 million subscriptions in force. "Despite the very challenging economic environment that the industrial sector and the B2B media markets are experiencing, 2008 was a very successful year for GlobalSpec," said company Chairman & CEO Jeffrey M. Killeen. "During 2008, we achieved record levels of EBITDA profitability and significantly expanded our margins even as we continued to invest in innovation projects to better serve our users and clients. Despite the pressure that recessionary times impose on growth, we have endeavored to keep our commitment to innovation high and our output of new products and services growing, based on the needs expressed by our customers. While 2009 will certainly be challenging, we are excited about our growth opportunities and the bigger opportunity to continue to acquire and delight more users and clients." GlobalSpec's core Web-based information services business - focused on connecting buyers and sellers of industrial products, parts, components and manufacturing services - continues to scale, and now provides its users with access to over 2.3 million product families representing nearly 200 million product specifications---the largest parametrically searchable database in the industrial B2B category. GlobalSpec continues to expand the number of B2B sub-verticals that it serves with both its patented SpecSearch® search engine and database and with its suite of e-newsletter titles. The company now also provides specific information services for verticals including Aerospace, Automotive, Building & Construction, Defense & Security, Energy & Environment and it continues to build up its content position in the Electronics vertical. In 2008, GlobalSpec continued to expand its suite of product centric vertical e-newsletters, and now publishes over 60 titles. Over the past year, the company introduced four new industry-specific titles --- Aerospace Technology, Automotive Technology, Appliance Technology and Defense & Security Technology. GlobalSpec also continued to enhance both its award winning buy-side community and professional network --- CR4 --- and its rapidly growing sell-side B2B ad network --- The Industrial Ad Network. About GlobalSpec, Inc. GlobalSpec, SpecSearch, The Engineering Search Engine and The Engineering Web are registered trademarks of GlobalSpec, Inc. |
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