LogNet Systems Announces Record Financial Results for 2009

Online, February 23, 2010 (Newswire.com) - Yoqneam, Israel (February 24, 2010) - LogNet Systems, a global provider of customer management and billing solutions for multiple play service providers, today announced strong financial results for fiscal year 2009. Despite slow economic conditions, 2009 proved to be a record year for LogNet Systems in terms of revenue, profitability and new business momentum. The company increased total revenue by 216 percent compared with 2008 and achieved EBIT of 16 percent.

During 2009, LogNet Systems won five new customers and performed significant upgrades for several key customers, while the value of the company's pipeline has more than doubled compared with the same period last year. Looking forward to 2010, the company's management strongly believes that LogNet Systems will capitalize on existing opportunities, expand into additional vertical markets and continue the company's rapid growth.

"The strong growth that we experienced in 2009 clearly demonstrates that telecoms realized the importance of e-billing and self service for cutting their operational costs," said Taly Eshel, President of LogNet Systems. "Moreover, our multiple play billing and customer care solution for telecoms and utilities has proven to enable our customers to achieve greater profitability and we are confident that the excellent references we won in 2009 will cement the continuation of our growth."

About LogNet Systems
LogNet Systems empowers leading service providers worldwide navigate their businesses to greater profits. By providing a range of innovative customer management and billing solutions, LogNet Systems enables service providers to deliver a personalized and profitable customer experience, expand service and product offerings and increase operational efficiency. Solutions from LogNet Systems are based on a modular product portfolio that includes billing, rating, product catalog, CRM, self care, e-billing and data analysis. LogNet Systems has designed and deployed over 50 complex customer management and billing solutions for communications, utilities, financial and transportation service providers worldwide. LogNet Systems is headquartered in Israel and has offices and representation across EMEA, APAC and Americas.

For more information, please visit our web site at www.lognet-systems.com.

Press Contact
Tony Miller
United States: +1 617 418 3024
Israel: +972 544 870 808
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