SEATTLE - February 14, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its fourth quarter and fiscal year 2006 financial results and conference call for Thursday, March 1, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before February 26, 2007 will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K. There will be no live question and answer session during the call.
Statistical analysis software
Friday, October 3, 2008
Insightful Schedules Announcement of Financial Results for Fourth Quarter and Fiscal Year 2006
SEATTLE - February 14, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its fourth quarter and fiscal year 2006 financial results and conference call for Thursday, March 1, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before February 26, 2007 will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K. There will be no live question and answer session during the call.
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its fourth quarter and fiscal year 2006 financial results and conference call for Thursday, March 1, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before February 26, 2007 will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K. There will be no live question and answer session during the call.
Statistical analysis software
National Council for Social Security Fund of the People's Republic of China Standardizes on S-PLUS®
SSF will deploy S-PLUS as its predictive analytic and reporting platform for risk management and investment performance
SEATTLE - February 26, 2007 -
Insightful Corporation (NASDAQ:IFUL), a leading provider of predictive analytics and reporting solutions, announced today that the National Council for Social Security Fund (SSF) of the People’s Republic of China has selected Insightful’s S-PLUS® as its primary analytics platform for building the SSF’s internal metric system for risk management and investment performance.
SSF, established to manage and operate more than $25 billion in assets of the National Social Security Fund, chose Insightful’s S-PLUS product family after a thorough analysis of most of the commercially available statistical software packages available. SSF will use the Insightful platform’s advanced quantitative and scientific approaches to build predictive models in order to accurately predict risk and thereby minimize economic surprises. By developing an S-PLUS-based investment performance system, the fund’s goals are to improve returns and manage risks more effectively.
“Given our mandate for building an internal metric system for risk management and investment performance, we needed a strong analytics platform that will help us to quickly build and test predictive quantitative models,” said Mr. Su Yuansheng, project leader of Information Research Division of SSF. “We chose S-PLUS over competitors including SAS and SPSS because of the economic value it provides with its flexible and rapid prototyping and its proven capabilities in modeling and analyzing financial market data.”
In addition to S-PLUS, SSF will also be deploying Insightful’s S+FinMetrics® and S+NuOPT™. S+FinMetrics is a specialized software solution for modeling, analyzing, and visualizing financial market data. The software offers a modern, and flexible analytic environment for reliable and robust, predictive econometric modeling. S+NuOPT combines powerful statistics and graphics with large-scale optimization problem solving. It is specifically designed to optimize large portfolios of assets and liabilities. By deploying Insightful’s analytics platform, SSF can quickly develop an investment metric system that enables better decision making in risk and performance management.
“We are very pleased to have the S-PLUS product family selected by the National Council for Social Security Fund after such a thorough and rigorous evaluation process,” said Jeff Coombs, president and chief executive officer of Insightful. “Being selected by the SSF is not only highly prestigious for Insightful, but an important step in our strategy to build Insightful’s presence in China.”
ABOUT SSF
In August 2000, the Central Committee of CPC and the State Council established a National Social Security Fund (NSSF), and set up National Council for Social Security Fund (SSF) for managing and operating the NSSF's assets. NSSF aims to be a solution to the problem of aging and serves as a strategic reserve fund accumulated by the central government to support future social security expenditures. SSF is responsible for the management and operation of NSSF, including selecting investment managers and custodians of the NSSF, to mandate them with and to monitor the investment operation and custody of the NSSF assets, and to invest directly in prescriptive markets in accordance with the related laws and regulations. During the past few years the SSF has diversified its investments and in 2004 the State Council agreed that NSSF could be invested in overseas markets.
Statistical analysis software
SEATTLE - February 26, 2007 -
Insightful Corporation (NASDAQ:IFUL), a leading provider of predictive analytics and reporting solutions, announced today that the National Council for Social Security Fund (SSF) of the People’s Republic of China has selected Insightful’s S-PLUS® as its primary analytics platform for building the SSF’s internal metric system for risk management and investment performance.
SSF, established to manage and operate more than $25 billion in assets of the National Social Security Fund, chose Insightful’s S-PLUS product family after a thorough analysis of most of the commercially available statistical software packages available. SSF will use the Insightful platform’s advanced quantitative and scientific approaches to build predictive models in order to accurately predict risk and thereby minimize economic surprises. By developing an S-PLUS-based investment performance system, the fund’s goals are to improve returns and manage risks more effectively.
“Given our mandate for building an internal metric system for risk management and investment performance, we needed a strong analytics platform that will help us to quickly build and test predictive quantitative models,” said Mr. Su Yuansheng, project leader of Information Research Division of SSF. “We chose S-PLUS over competitors including SAS and SPSS because of the economic value it provides with its flexible and rapid prototyping and its proven capabilities in modeling and analyzing financial market data.”
In addition to S-PLUS, SSF will also be deploying Insightful’s S+FinMetrics® and S+NuOPT™. S+FinMetrics is a specialized software solution for modeling, analyzing, and visualizing financial market data. The software offers a modern, and flexible analytic environment for reliable and robust, predictive econometric modeling. S+NuOPT combines powerful statistics and graphics with large-scale optimization problem solving. It is specifically designed to optimize large portfolios of assets and liabilities. By deploying Insightful’s analytics platform, SSF can quickly develop an investment metric system that enables better decision making in risk and performance management.
“We are very pleased to have the S-PLUS product family selected by the National Council for Social Security Fund after such a thorough and rigorous evaluation process,” said Jeff Coombs, president and chief executive officer of Insightful. “Being selected by the SSF is not only highly prestigious for Insightful, but an important step in our strategy to build Insightful’s presence in China.”
ABOUT SSF
In August 2000, the Central Committee of CPC and the State Council established a National Social Security Fund (NSSF), and set up National Council for Social Security Fund (SSF) for managing and operating the NSSF's assets. NSSF aims to be a solution to the problem of aging and serves as a strategic reserve fund accumulated by the central government to support future social security expenditures. SSF is responsible for the management and operation of NSSF, including selecting investment managers and custodians of the NSSF, to mandate them with and to monitor the investment operation and custody of the NSSF assets, and to invest directly in prescriptive markets in accordance with the related laws and regulations. During the past few years the SSF has diversified its investments and in 2004 the State Council agreed that NSSF could be invested in overseas markets.
Statistical analysis software
Insightful Announces 2006 Fourth Quarter and Annual Results
Reports Record Quarterly and Annual Revenues
SEATTLE - March 1, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced operating results for the fourth quarter and year ended December 31, 2006.
Insightful reported revenues of $7.5 million for the fourth quarter of 2006, an increase of 14% over revenues of $6.6 million for the fourth quarter of 2005. Revenues from the company’s core Data Analysis business increased 18% for the fourth quarter of 2006 compared to the fourth quarter of 2005. The company reported net income of $0.3 million, or $0.02 per diluted share, for the fourth quarter of 2006, including stock-based compensation expense of $0.2 million. Net income for the fourth quarter of 2005 was $1.0 million, or $0.08 per diluted share. There was no stock-based compensation expense in the fourth quarter of 2005.
For the full year 2006, Insightful reported revenues of $24.0 million, an increase of 8% over revenues of $22.3 million for 2005. Revenues from the company’s core Data Analysis business increased 11% for 2006 compared to 2005. Net income for 2006 was $0.2 million, or $0.01 per diluted share, including stock-based compensation expense of $0.7 million. Net income for 2005 was $2.0 million, or $0.15 per diluted share. There was no stock-based compensation expense in 2005.
Non-GAAP earnings, which exclude stock-based compensation expense and amortization of intangible assets, were $0.7 million, or $0.05 per share, for the fourth quarter of 2006, compared to $1.2 million, or $0.09 per share, for the fourth quarter of 2005. Non-GAAP earnings for 2006 were $1.4 million, or $0.11 per share, compared to $2.6 million, or $0.20 per share, for 2005. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense and the amortization of intangible assets. A reconciliation of Insightful’s GAAP net income to its non-GAAP earnings for the fourth quarters and fiscal years ended December 31, 2006 and 2005 are set forth at the end of this release.
Insightful’s cash, cash equivalents, and short and long-term investments balance increased to $10.2 million at December 31, 2006, from $9.9 million at December 31, 2005. Deferred revenues were $6.2 million at December 31, 2006, compared to $6.3 million at December 31, 2005.
“The fourth quarter was the strongest revenue quarter in Insightful’s history,” said Jeff Coombs, president and CEO of Insightful Corporation. “It also marks our 15th consecutive quarter of year-over-year revenue growth. This growth was driven by our ability to sell larger, solutions-oriented deals to customers in both the life sciences and financial services industries, worldwide. For example, in the fourth quarter we did business in excess of a half-million dollars each with two pharmaceutical companies and one large European financial institution.”
“We continue to focus our efforts on building an organization capable of building, selling and delivering not only an enterprise scale S-PLUS platform but also vertically-oriented solutions, to enable the company to increase revenues at an even higher rate than we have recently experienced,” Coombs continued. “Our increased level of investment means short-term profits could be lower than they otherwise would be, in the interest of accelerating growth.”
Fourth Quarter 2006 Highlights
* Fourth quarter software license revenues were $3.6 million in both 2006 and 2005.
* Software maintenance revenues were $2.0 million in the fourth quarter of 2006, an increase of 18% over $1.7 million in the fourth quarter of 2005.
* Fourth quarter 2006 professional services and other revenues were $1.9 million, an increase of 40% over $1.3 million in the fourth quarter of 2005.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.6 million in the fourth quarter 2006, compared to $0.5 million in the fourth quarter of 2005, representing an increase of 9%.
Through the fourth quarter of 2006, Insightful had two segments for its product and service offerings: Data Analysis and Text Analysis. Following are highlights for the quarter in each segment.
Data Analysis Financial Results
* Total Data Analysis revenues, which include software licenses, maintenance and professional services and other, were $7.3 million in the fourth quarter of 2006, an increase of 18% over $6.2 million in the fourth quarter of 2005.
* Data Analysis software license revenues were $3.5 million in the fourth quarter of 2006, an increase of 7% over $3.3 million in the fourth quarter of 2005.
* Data Analysis professional services and other revenues were $1.8 million in the fourth quarter of 2006, an increase of 49% over $1.2 million in the fourth quarter of 2005.
* Total domestic Data Analysis revenues were $4.0 million in the fourth quarters of 2006 and 2005.
* Total international Data Analysis revenues were $3.4 million in the fourth quarter of 2006, an increase of 51% over $2.2 million in the fourth quarter of 2005.
Text Analysis Financial Results
* Total Text Analysis revenues, which include software licenses and professional services, were $123,000 in the fourth quarter of 2006, compared to $346,000 in the fourth quarter of 2005.
* Text Analysis license revenues were $113,000 in the fourth quarter of 2006, compared to $262,000 in the fourth quarter of 2005.
* Text Analysis professional services and other revenues were $10,000 in the fourth quarter of 2006, compared to $84,000 in the fourth quarter of 2005.
“We did business in excess of $1 million dollars with two data analysis customers in 2006, one of which was in excess of $2 million. We did business in excess of $500,000 with four customers. Our strong Data Analysis business enabled us to achieve overall growth despite significant declines in revenues from our Text Analysis business,” Coombs said. “We continue to believe that the greatest opportunities for Insightful are in Data Analysis, so that is where we have put most of our focus and resources.”
“Beginning in the first quarter of 2007 we are integrating our Text Analysis product lines more closely with our Data Analysis business, and will no longer treat Text Analysis as a separate division,” continued Coombs. “Rather, we’ll treat it as a separate product line, similar to how we treat other products in our portfolio.”
Fiscal Year 2006 Highlights
* Software license revenues were $10.6 million in 2006, an increase of 1% over $10.5 million in 2005.
o Software maintenance revenues were $7.5 million in 2006, an increase of 12% over $6.7 million in 2005.
* Professional services and other revenues were $6.0 million in 2006, an increase of 15% over $5.2 million in 2005.
* Gross profit margin was 76% in 2006, compared to 78% in 2005.
* Cash flows from operations were $2.0 million in 2006, compared to $1.4 million in 2005.
Data Analysis Financial Results
* Total Data Analysis revenues, which include software licenses, maintenance and professional services and other, were $23.0 million in 2006, an increase of 11% over $20.8 million in 2005.
* Data Analysis software license revenues were $9.7 million in 2006, an increase of 4% over $9.3 million in 2005.
* Data Analysis professional services and other revenues were $5.8 million in 2006, an increase of 23% over $4.8 million in 2005.
* Total domestic Data Analysis revenues were $13.3 million in 2006, an increase of 6% over $12.5 million in 2005.
* Total international Data Analysis revenues were $9.7 million in 2006, an increase of 19% over $8.2 million in 2005.
* Funded research, which is an offset to research and development expense in the company’s income statement, increased to $2.3 million in 2006, as compared to $2.2 million in 2005.
Text Analysis Financial Results
* Total Text Analysis revenues, which include software licenses and professional services, were $1.0 million in 2006, compared to $1.6 million in 2005.
* Text Analysis license revenues were $0.9 million in 2006, compared to $1.1 million in 2005.
* Text Analysis professional services and other revenues were $0.1 million in 2006, compared to $0.4 million in 2005.
Product Releases
In 2006, Insightful released the following data analysis products:
* the beta version of S-PLUS® 8, the next major release of Insightful’s software platform for statistical data analysis and predictive analytics.
* FAME S+Connector™, an integration module that allows S-PLUS® to integrate with SunGard’s FAME data management solution for managing high-volume time series data in the financial services market.
* Insightful Dynamic Reporting Suite, which provides on demand predictive analytic reporting for business users.
Guidance
For the first quarter of 2007, Insightful expects revenues to increase over the first quarter of 2006. Consistent with the seasonal nature of its business, the company expects revenues in the first quarter of 2007 to decline from the fourth quarter of 2006. The company expects costs in the first quarter of 2007 to be higher than in the fourth quarter of 2006, as it continues to set the foundation for future growth by investing in sales, marketing and development of its products and solutions and as it incurs costs associated with complying with Sarbanes-Oxley Section 404. Because of these investments, management believes Insightful will incur both a GAAP and a non-GAAP loss in the first quarter of 2007. For the year 2007, the company expects increases in both revenues and costs over 2006.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings included in this press release is different from the GAAP measure of net income, as this non-GAAP measure excludes certain charges otherwise included in the computation of net income or loss. Insightful believes that this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators that management uses as a basis for planning and forecasting of future periods.
The charges excluded from Insightful’s GAAP results include stock-based compensation expense and amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets was an event outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense and amortization of intangible assets may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows:
Statistical analysis software
SEATTLE - March 1, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced operating results for the fourth quarter and year ended December 31, 2006.
Insightful reported revenues of $7.5 million for the fourth quarter of 2006, an increase of 14% over revenues of $6.6 million for the fourth quarter of 2005. Revenues from the company’s core Data Analysis business increased 18% for the fourth quarter of 2006 compared to the fourth quarter of 2005. The company reported net income of $0.3 million, or $0.02 per diluted share, for the fourth quarter of 2006, including stock-based compensation expense of $0.2 million. Net income for the fourth quarter of 2005 was $1.0 million, or $0.08 per diluted share. There was no stock-based compensation expense in the fourth quarter of 2005.
For the full year 2006, Insightful reported revenues of $24.0 million, an increase of 8% over revenues of $22.3 million for 2005. Revenues from the company’s core Data Analysis business increased 11% for 2006 compared to 2005. Net income for 2006 was $0.2 million, or $0.01 per diluted share, including stock-based compensation expense of $0.7 million. Net income for 2005 was $2.0 million, or $0.15 per diluted share. There was no stock-based compensation expense in 2005.
Non-GAAP earnings, which exclude stock-based compensation expense and amortization of intangible assets, were $0.7 million, or $0.05 per share, for the fourth quarter of 2006, compared to $1.2 million, or $0.09 per share, for the fourth quarter of 2005. Non-GAAP earnings for 2006 were $1.4 million, or $0.11 per share, compared to $2.6 million, or $0.20 per share, for 2005. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense and the amortization of intangible assets. A reconciliation of Insightful’s GAAP net income to its non-GAAP earnings for the fourth quarters and fiscal years ended December 31, 2006 and 2005 are set forth at the end of this release.
Insightful’s cash, cash equivalents, and short and long-term investments balance increased to $10.2 million at December 31, 2006, from $9.9 million at December 31, 2005. Deferred revenues were $6.2 million at December 31, 2006, compared to $6.3 million at December 31, 2005.
“The fourth quarter was the strongest revenue quarter in Insightful’s history,” said Jeff Coombs, president and CEO of Insightful Corporation. “It also marks our 15th consecutive quarter of year-over-year revenue growth. This growth was driven by our ability to sell larger, solutions-oriented deals to customers in both the life sciences and financial services industries, worldwide. For example, in the fourth quarter we did business in excess of a half-million dollars each with two pharmaceutical companies and one large European financial institution.”
“We continue to focus our efforts on building an organization capable of building, selling and delivering not only an enterprise scale S-PLUS platform but also vertically-oriented solutions, to enable the company to increase revenues at an even higher rate than we have recently experienced,” Coombs continued. “Our increased level of investment means short-term profits could be lower than they otherwise would be, in the interest of accelerating growth.”
Fourth Quarter 2006 Highlights
* Fourth quarter software license revenues were $3.6 million in both 2006 and 2005.
* Software maintenance revenues were $2.0 million in the fourth quarter of 2006, an increase of 18% over $1.7 million in the fourth quarter of 2005.
* Fourth quarter 2006 professional services and other revenues were $1.9 million, an increase of 40% over $1.3 million in the fourth quarter of 2005.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.6 million in the fourth quarter 2006, compared to $0.5 million in the fourth quarter of 2005, representing an increase of 9%.
Through the fourth quarter of 2006, Insightful had two segments for its product and service offerings: Data Analysis and Text Analysis. Following are highlights for the quarter in each segment.
Data Analysis Financial Results
* Total Data Analysis revenues, which include software licenses, maintenance and professional services and other, were $7.3 million in the fourth quarter of 2006, an increase of 18% over $6.2 million in the fourth quarter of 2005.
* Data Analysis software license revenues were $3.5 million in the fourth quarter of 2006, an increase of 7% over $3.3 million in the fourth quarter of 2005.
* Data Analysis professional services and other revenues were $1.8 million in the fourth quarter of 2006, an increase of 49% over $1.2 million in the fourth quarter of 2005.
* Total domestic Data Analysis revenues were $4.0 million in the fourth quarters of 2006 and 2005.
* Total international Data Analysis revenues were $3.4 million in the fourth quarter of 2006, an increase of 51% over $2.2 million in the fourth quarter of 2005.
Text Analysis Financial Results
* Total Text Analysis revenues, which include software licenses and professional services, were $123,000 in the fourth quarter of 2006, compared to $346,000 in the fourth quarter of 2005.
* Text Analysis license revenues were $113,000 in the fourth quarter of 2006, compared to $262,000 in the fourth quarter of 2005.
* Text Analysis professional services and other revenues were $10,000 in the fourth quarter of 2006, compared to $84,000 in the fourth quarter of 2005.
“We did business in excess of $1 million dollars with two data analysis customers in 2006, one of which was in excess of $2 million. We did business in excess of $500,000 with four customers. Our strong Data Analysis business enabled us to achieve overall growth despite significant declines in revenues from our Text Analysis business,” Coombs said. “We continue to believe that the greatest opportunities for Insightful are in Data Analysis, so that is where we have put most of our focus and resources.”
“Beginning in the first quarter of 2007 we are integrating our Text Analysis product lines more closely with our Data Analysis business, and will no longer treat Text Analysis as a separate division,” continued Coombs. “Rather, we’ll treat it as a separate product line, similar to how we treat other products in our portfolio.”
Fiscal Year 2006 Highlights
* Software license revenues were $10.6 million in 2006, an increase of 1% over $10.5 million in 2005.
o Software maintenance revenues were $7.5 million in 2006, an increase of 12% over $6.7 million in 2005.
* Professional services and other revenues were $6.0 million in 2006, an increase of 15% over $5.2 million in 2005.
* Gross profit margin was 76% in 2006, compared to 78% in 2005.
* Cash flows from operations were $2.0 million in 2006, compared to $1.4 million in 2005.
Data Analysis Financial Results
* Total Data Analysis revenues, which include software licenses, maintenance and professional services and other, were $23.0 million in 2006, an increase of 11% over $20.8 million in 2005.
* Data Analysis software license revenues were $9.7 million in 2006, an increase of 4% over $9.3 million in 2005.
* Data Analysis professional services and other revenues were $5.8 million in 2006, an increase of 23% over $4.8 million in 2005.
* Total domestic Data Analysis revenues were $13.3 million in 2006, an increase of 6% over $12.5 million in 2005.
* Total international Data Analysis revenues were $9.7 million in 2006, an increase of 19% over $8.2 million in 2005.
* Funded research, which is an offset to research and development expense in the company’s income statement, increased to $2.3 million in 2006, as compared to $2.2 million in 2005.
Text Analysis Financial Results
* Total Text Analysis revenues, which include software licenses and professional services, were $1.0 million in 2006, compared to $1.6 million in 2005.
* Text Analysis license revenues were $0.9 million in 2006, compared to $1.1 million in 2005.
* Text Analysis professional services and other revenues were $0.1 million in 2006, compared to $0.4 million in 2005.
Product Releases
In 2006, Insightful released the following data analysis products:
* the beta version of S-PLUS® 8, the next major release of Insightful’s software platform for statistical data analysis and predictive analytics.
* FAME S+Connector™, an integration module that allows S-PLUS® to integrate with SunGard’s FAME data management solution for managing high-volume time series data in the financial services market.
* Insightful Dynamic Reporting Suite, which provides on demand predictive analytic reporting for business users.
Guidance
For the first quarter of 2007, Insightful expects revenues to increase over the first quarter of 2006. Consistent with the seasonal nature of its business, the company expects revenues in the first quarter of 2007 to decline from the fourth quarter of 2006. The company expects costs in the first quarter of 2007 to be higher than in the fourth quarter of 2006, as it continues to set the foundation for future growth by investing in sales, marketing and development of its products and solutions and as it incurs costs associated with complying with Sarbanes-Oxley Section 404. Because of these investments, management believes Insightful will incur both a GAAP and a non-GAAP loss in the first quarter of 2007. For the year 2007, the company expects increases in both revenues and costs over 2006.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings included in this press release is different from the GAAP measure of net income, as this non-GAAP measure excludes certain charges otherwise included in the computation of net income or loss. Insightful believes that this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators that management uses as a basis for planning and forecasting of future periods.
The charges excluded from Insightful’s GAAP results include stock-based compensation expense and amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets was an event outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense and amortization of intangible assets may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows:
Statistical analysis software
Insightful Corporation Schedules Announcement of Financial Results for First Quarter 2007
SEATTLE - April 18, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its first quarter 2007 financial results and conference call for Friday, May 4th, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before May 2nd, 2007 will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K. There will be no live question and answer session during the call.
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its first quarter 2007 financial results and conference call for Friday, May 4th, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before May 2nd, 2007 will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K. There will be no live question and answer session during the call.
Statistical analysis software
Insightful Announces Operating Results for First Quarter 2007
Reports 12% Revenue Growth over First Quarter 2006
SEATTLE - May 4, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the first quarter ended March 31, 2007.
Insightful reported total revenues of $6.2 million in the first quarter of 2007, an increase of 12% over revenues of $5.5 million in the first quarter of 2006. Total revenues associated with the company’s core data analysis product line increased by 16% in the first quarter of 2007 compared to the first quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.4 million in the first quarter of 2006 to $0.2 million in the first quarter of 2007. For the first quarter of 2007, Insightful reported a net loss of $1.1 million, or $0.09 per share. Net loss for the first quarter of 2006 was $43,000, or break-even per share.
Non-GAAP operating results, which exclude stock-based compensation expense and amortization of intangible assets, was a loss of $0.8 million, or $0.06 per share, for the first quarter of 2007, compared to non-GAAP earnings of $0.3 million, or $0.02 per share, for the first quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense and the amortization of intangible assets. The reconciliation of Insightful’s GAAP net loss to its non-GAAP operating results for the quarters ended March 31, 2007 and 2006 are set forth at the end of this release.
“The first quarter marked our second consecutive quarter of double digit year-over-year revenue growth,” said Jeff Coombs, president and CEO of Insightful Corporation. “More importantly, we made significant progress in building our vertical solutions organization and enhancing our platform development team. While the increased investments contributed to a loss in the first quarter, they are aimed at creating a product and solutions portfolio that will enable us to accelerate our growth. Our product investment strategy is focused on delivering an increasingly enterprise-scalable predictive analytic platform, and to that end we plan to make our S-PLUS® 8.0 Enterprise Developer product generally available later this quarter. In addition, we plan to deliver a series of high-value solutions targeted at the life science and financial services industries starting later this year.”
Quarterly Highlights
* Software license revenues were $2.0 million in the first quarter of 2007, as compared to $2.4 million in the first quarter of 2006. License revenues from the company’s data analysis product line declined from $2.1 million to $1.9 million. License revenues from the company’s InFact product declined from $0.3 million to $0.1 million. Maintenance revenues were $2.0 million in the first quarter of 2007, as compared to $1.8 million in the first quarter of 2006.
* Professional services and other revenues were $2.1 million in the first quarter of 2007, as compared to $1.3 million in the first quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.5 million in the first quarter of 2007, as compared to $0.6 million in the first quarter of 2006.
* Domestic revenues were $3.1 million in the first quarter of 2007, as compared to $3.4 million in the first quarter of 2006. International revenues were $3.1 million in the first quarter of 2007, as compared to $2.2 million in the first quarter of 2006.
* The company merged its data analysis and text analysis business segments. The S-PLUS predictive analytic product line and the InFact text analytic product will be sold by a single, worldwide enterprise sales force. The company’s current product development and marketing focus is on its data analysis product line.
* The company accelerated its investment in solutions focused on the financial services and life sciences vertical markets, and on enhancing its core S-PLUS predictive analytic platform. As a result, net research and development expenses increased 38% to $1.5 million in the first quarter of 2007, from $1.1 million in the first quarter of 2006, and increased as a percentage of revenues from 20% to 24%. .
Guidance
For the second quarter of 2007, Insightful expects revenues to increase over the second quarter of 2006. The company expects costs in the second quarter of 2007 to be higher than in the first quarter of 2007 as it continues to set the foundation for future growth by investing in sales, marketing and development of its product lines. Because of these investments, management believes the company will incur both a GAAP and a non-GAAP loss in the second quarter of 2007.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain expenses otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense and amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets was an event outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense and amortization of intangible assets may be important to an understanding of Insightful’s ongoing operating performance.
Statistical analysis software
SEATTLE - May 4, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the first quarter ended March 31, 2007.
Insightful reported total revenues of $6.2 million in the first quarter of 2007, an increase of 12% over revenues of $5.5 million in the first quarter of 2006. Total revenues associated with the company’s core data analysis product line increased by 16% in the first quarter of 2007 compared to the first quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.4 million in the first quarter of 2006 to $0.2 million in the first quarter of 2007. For the first quarter of 2007, Insightful reported a net loss of $1.1 million, or $0.09 per share. Net loss for the first quarter of 2006 was $43,000, or break-even per share.
Non-GAAP operating results, which exclude stock-based compensation expense and amortization of intangible assets, was a loss of $0.8 million, or $0.06 per share, for the first quarter of 2007, compared to non-GAAP earnings of $0.3 million, or $0.02 per share, for the first quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense and the amortization of intangible assets. The reconciliation of Insightful’s GAAP net loss to its non-GAAP operating results for the quarters ended March 31, 2007 and 2006 are set forth at the end of this release.
“The first quarter marked our second consecutive quarter of double digit year-over-year revenue growth,” said Jeff Coombs, president and CEO of Insightful Corporation. “More importantly, we made significant progress in building our vertical solutions organization and enhancing our platform development team. While the increased investments contributed to a loss in the first quarter, they are aimed at creating a product and solutions portfolio that will enable us to accelerate our growth. Our product investment strategy is focused on delivering an increasingly enterprise-scalable predictive analytic platform, and to that end we plan to make our S-PLUS® 8.0 Enterprise Developer product generally available later this quarter. In addition, we plan to deliver a series of high-value solutions targeted at the life science and financial services industries starting later this year.”
Quarterly Highlights
* Software license revenues were $2.0 million in the first quarter of 2007, as compared to $2.4 million in the first quarter of 2006. License revenues from the company’s data analysis product line declined from $2.1 million to $1.9 million. License revenues from the company’s InFact product declined from $0.3 million to $0.1 million. Maintenance revenues were $2.0 million in the first quarter of 2007, as compared to $1.8 million in the first quarter of 2006.
* Professional services and other revenues were $2.1 million in the first quarter of 2007, as compared to $1.3 million in the first quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.5 million in the first quarter of 2007, as compared to $0.6 million in the first quarter of 2006.
* Domestic revenues were $3.1 million in the first quarter of 2007, as compared to $3.4 million in the first quarter of 2006. International revenues were $3.1 million in the first quarter of 2007, as compared to $2.2 million in the first quarter of 2006.
* The company merged its data analysis and text analysis business segments. The S-PLUS predictive analytic product line and the InFact text analytic product will be sold by a single, worldwide enterprise sales force. The company’s current product development and marketing focus is on its data analysis product line.
* The company accelerated its investment in solutions focused on the financial services and life sciences vertical markets, and on enhancing its core S-PLUS predictive analytic platform. As a result, net research and development expenses increased 38% to $1.5 million in the first quarter of 2007, from $1.1 million in the first quarter of 2006, and increased as a percentage of revenues from 20% to 24%. .
Guidance
For the second quarter of 2007, Insightful expects revenues to increase over the second quarter of 2006. The company expects costs in the second quarter of 2007 to be higher than in the first quarter of 2007 as it continues to set the foundation for future growth by investing in sales, marketing and development of its product lines. Because of these investments, management believes the company will incur both a GAAP and a non-GAAP loss in the second quarter of 2007.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain expenses otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense and amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets was an event outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense and amortization of intangible assets may be important to an understanding of Insightful’s ongoing operating performance.
Statistical analysis software
Insightful Corporation Announces S-PLUS® 8 Upgrade Program
Maintenance customers for S-PLUS 6.2 and 7 Professional Developer versions can upgrade to S-PLUS 8 Enterprise Developer for free
SEATTLE - May 21, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today a free upgrade for maintenance customers of Insightful’s S-PLUS® 6.2 or 7 Professional Developer, to its S-PLUS 8 Enterprise Developer.
"We wanted to find the best way to say thank you to our loyal customers for 20 years of support and believe that delivering our most comprehensive development platform ever to the widest possible audience was a great start,” commented Jeff Coombs, president and CEO of Insightful. He added, “By waiving the software upgrade fee we hope to encourage as many of our users as possible to take advantage of the development breakthroughs available in S-PLUS 8.”
NEW FEATURES IN S-PLUS 8.0
* Workbench: This feature, originally introduced in S-PLUS 7, has been further enhanced in the 8 release. Programmers can speed the development of applications for competitive advantage by using the new debugger and profiler. The interactive debugger allows users to quickly debug S-PLUS code from within the S-PLUS workbench, and includes modern debugging tools such as step debugging and breakpoints. The profiler provides an environment for writing and developing functions in S-PLUS that allow profiling of time and memory allocation within S-PLUS tasks. The user can now optimize the code’s execution by evaluating where bottlenecks exist.
* Graphics enhancements: S-PLUS is already a leading platform for graphics creation and delivery. In version 8, Insightful has included a larger and normalized color palette as well as providing simplified code necessary to deliver complex graphs and charts. Whether a developer is creating graphics for submission to the FDA or distribution to a group of portfolio managers at an investment bank, S-PLUS 8 Enterprise Developer makes this task easier and more time efficient.
* S-PLUS Package System: With already 25 published packages available, S-PLUS 8 Enterprise Developer provides a convenient framework for creating and distributing libraries for S-PLUS and for converting packages written in R (S-PLUS’s open-source cousin) for use in S-PLUS.
* S language extensions: Over one hundred new functions have been added in order to support the graphics enhancements, the S-PLUS Package System and to augment compatibility with R. Types of functions that have been added include math, character, file manipulation and string manipulation.
UPGRADE PROGRAM DETAILS
Current maintenance customers with the S-PLUS 6.2 or 7 Professional Developer versions can upgrade to the S-PLUS 8 Enterprise Developer version for free. Insightful will waive the software upgrade fee until December 31st, 2007, for all current maintenance customers who purchased their copy of S-PLUS Professional Developer prior to May 21st, 2007.
To claim the free upgrade all current maintenance customers need to visit the Insightful website at http://www.insightful.com/upgrade and submit an upgrade request form with their license and contact information. Upgrade software will be shipped upon confirmation of license ownership and maintenance status.
Current customer maintenance contracts will remain in place until their current end date. At the end of their current maintenance contracts, customers will renew at the Enterprise Developer level.
AVAILABILITY/PLATFORMS
S-PLUS 8 is available today for Microsoft Windows®, Red Hat® Enterprise Linux® and Sun Solaris® operating systems.
Statistical analysis software
SEATTLE - May 21, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today a free upgrade for maintenance customers of Insightful’s S-PLUS® 6.2 or 7 Professional Developer, to its S-PLUS 8 Enterprise Developer.
"We wanted to find the best way to say thank you to our loyal customers for 20 years of support and believe that delivering our most comprehensive development platform ever to the widest possible audience was a great start,” commented Jeff Coombs, president and CEO of Insightful. He added, “By waiving the software upgrade fee we hope to encourage as many of our users as possible to take advantage of the development breakthroughs available in S-PLUS 8.”
NEW FEATURES IN S-PLUS 8.0
* Workbench: This feature, originally introduced in S-PLUS 7, has been further enhanced in the 8 release. Programmers can speed the development of applications for competitive advantage by using the new debugger and profiler. The interactive debugger allows users to quickly debug S-PLUS code from within the S-PLUS workbench, and includes modern debugging tools such as step debugging and breakpoints. The profiler provides an environment for writing and developing functions in S-PLUS that allow profiling of time and memory allocation within S-PLUS tasks. The user can now optimize the code’s execution by evaluating where bottlenecks exist.
* Graphics enhancements: S-PLUS is already a leading platform for graphics creation and delivery. In version 8, Insightful has included a larger and normalized color palette as well as providing simplified code necessary to deliver complex graphs and charts. Whether a developer is creating graphics for submission to the FDA or distribution to a group of portfolio managers at an investment bank, S-PLUS 8 Enterprise Developer makes this task easier and more time efficient.
* S-PLUS Package System: With already 25 published packages available, S-PLUS 8 Enterprise Developer provides a convenient framework for creating and distributing libraries for S-PLUS and for converting packages written in R (S-PLUS’s open-source cousin) for use in S-PLUS.
* S language extensions: Over one hundred new functions have been added in order to support the graphics enhancements, the S-PLUS Package System and to augment compatibility with R. Types of functions that have been added include math, character, file manipulation and string manipulation.
UPGRADE PROGRAM DETAILS
Current maintenance customers with the S-PLUS 6.2 or 7 Professional Developer versions can upgrade to the S-PLUS 8 Enterprise Developer version for free. Insightful will waive the software upgrade fee until December 31st, 2007, for all current maintenance customers who purchased their copy of S-PLUS Professional Developer prior to May 21st, 2007.
To claim the free upgrade all current maintenance customers need to visit the Insightful website at http://www.insightful.com/upgrade and submit an upgrade request form with their license and contact information. Upgrade software will be shipped upon confirmation of license ownership and maintenance status.
Current customer maintenance contracts will remain in place until their current end date. At the end of their current maintenance contracts, customers will renew at the Enterprise Developer level.
AVAILABILITY/PLATFORMS
S-PLUS 8 is available today for Microsoft Windows®, Red Hat® Enterprise Linux® and Sun Solaris® operating systems.
Statistical analysis software
Insightful Corporation Releases S-PLUS® 8 Enterprise Developer
New release of statistical data analysis and predictive analytics platform provides greater programming efficiency, versatility and comprehensive graphics
SEATTLE - May 21, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S-PLUS® 8 Enterprise Developer, the latest major release of Insightful’s software platform for statistical data analysis and predictive analytics.
S-PLUS 8 Enterprise Developer provides statisticians and developers with enhanced programming efficiencies, versatility, comprehensive graphics production and advanced statistical methods, all of which increase programmers’ ability to anticipate and plan for change. With S-PLUS 8 Enterprise Developer, IT organizations can speed their deployment of advanced, integration-friendly analytical solutions. S-PLUS 8 Enterprise Developer also provides users with the visualization and reporting tools necessary to communicate results to technical and non-technical audiences, delivering the knowledge to act on critical decision points.
“S-PLUS provides me with the tools necessary to work faster and more flexibly with clinical data,” said Harry Southworth, statistical science director for AstraZeneca, one of the world's leading pharmaceutical companies. “The superior quality of the graphs has made it easier for me to communicate across a broad audience including statisticians, drug safety personnel and physicians.”
KEY FEATURES IN S-PLUS 8.0
* Workbench: This feature, originally introduced in S-PLUS 7, has been further enhanced in the 8 release. Programmers can speed the development of applications for competitive advantage by using the new debugger and profiler. The interactive debugger allows users to quickly debug S-PLUS code from within the S-PLUS workbench. The workbench has modern debugging tools including step debugging and breakpoints. The profiler provides an environment for writing and developing functions in S-PLUS that allow profiling of time and memory allocation within S-PLUS tasks. The user can now optimize the code’s execution by evaluating where bottlenecks exist.
* Graphics enhancements: S-PLUS is already a leading platform for graphics creation and delivery. In version 8, Insightful has included a larger and normalized color palette as well as providing simplified code to deliver complex graphs and charts. Whether a developer is creating graphics for submission to the FDA or distribution to a group of portfolio managers at an investment bank, S-PLUS 8 Enterprise Developer makes this task easier and more time efficient.
* S-PLUS Package System: With already 25 published packages available, S-PLUS 8 Enterprise Developer provides a convenient framework for creating and distributing libraries for S-PLUS and for converting packages written in R (S-PLUS’s open-source cousin) for use in S-PLUS.
* S language extensions: Over one hundred new functions have been added in order to support the graphics enhancements, the S-PLUS Package System and to augment compatibility with R. Types of functions that have been added include math, character, file manipulation and string manipulation.
S-PLUS 8 ENTERPRISE DEVELOPER: COMPREHENSIVE RESPONSE TO USERS’ NEEDS
S-PLUS 8 Enterprise Developer was put through a lengthy beta testing period to provide for the most comprehensive response to testers’ comments as well as thorough testing of new features and functions. Customers have responded enthusiastically to the new release.
Knut Wittkowski, director, Biostatistics/Epidemiology/Research Design Center for Clinical and Translational Science at Rockefeller University Hospital said, “S-PLUS 8 excels in the documentation of the algorithms being used and the addition of the Eclipse Workbench facilitates the implementation of novel results from statistical research.”
“The S-PLUS Package System in version 8 provides tools to develop S-PLUS packages easily and in a routinely automated way that should facilitate ready cross-talk with the R system and user,” said Brad Biggerstaff, mathematical statistician for the Division of Vector-Borne Infectious Diseases National Center for Infectious Diseases, Centers for Disease Control and Prevention. “I was able to build a package from existing code in a very reasonable time, and the documentation of this task was understandable and complete.”
AVAILABILITY/PLATFORMS
S-PLUS 8 is available today for Microsoft Windows®, Red Hat® Enterprise Linux® and Sun Solaris® operating systems.
“We are very pleased to announce the release of S-PLUS 8 Enterprise Developer, our most comprehensive development environment for statistical data analysis and predictive analytics,” said Jeff Coombs, CEO of Insightful. “S-PLUS 8 enables the rapid development of applications based on predictive analytic modeling and their delivery to a much broader set of users across the enterprise.”
Statistical analysis software
SEATTLE - May 21, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S-PLUS® 8 Enterprise Developer, the latest major release of Insightful’s software platform for statistical data analysis and predictive analytics.
S-PLUS 8 Enterprise Developer provides statisticians and developers with enhanced programming efficiencies, versatility, comprehensive graphics production and advanced statistical methods, all of which increase programmers’ ability to anticipate and plan for change. With S-PLUS 8 Enterprise Developer, IT organizations can speed their deployment of advanced, integration-friendly analytical solutions. S-PLUS 8 Enterprise Developer also provides users with the visualization and reporting tools necessary to communicate results to technical and non-technical audiences, delivering the knowledge to act on critical decision points.
“S-PLUS provides me with the tools necessary to work faster and more flexibly with clinical data,” said Harry Southworth, statistical science director for AstraZeneca, one of the world's leading pharmaceutical companies. “The superior quality of the graphs has made it easier for me to communicate across a broad audience including statisticians, drug safety personnel and physicians.”
KEY FEATURES IN S-PLUS 8.0
* Workbench: This feature, originally introduced in S-PLUS 7, has been further enhanced in the 8 release. Programmers can speed the development of applications for competitive advantage by using the new debugger and profiler. The interactive debugger allows users to quickly debug S-PLUS code from within the S-PLUS workbench. The workbench has modern debugging tools including step debugging and breakpoints. The profiler provides an environment for writing and developing functions in S-PLUS that allow profiling of time and memory allocation within S-PLUS tasks. The user can now optimize the code’s execution by evaluating where bottlenecks exist.
* Graphics enhancements: S-PLUS is already a leading platform for graphics creation and delivery. In version 8, Insightful has included a larger and normalized color palette as well as providing simplified code to deliver complex graphs and charts. Whether a developer is creating graphics for submission to the FDA or distribution to a group of portfolio managers at an investment bank, S-PLUS 8 Enterprise Developer makes this task easier and more time efficient.
* S-PLUS Package System: With already 25 published packages available, S-PLUS 8 Enterprise Developer provides a convenient framework for creating and distributing libraries for S-PLUS and for converting packages written in R (S-PLUS’s open-source cousin) for use in S-PLUS.
* S language extensions: Over one hundred new functions have been added in order to support the graphics enhancements, the S-PLUS Package System and to augment compatibility with R. Types of functions that have been added include math, character, file manipulation and string manipulation.
S-PLUS 8 ENTERPRISE DEVELOPER: COMPREHENSIVE RESPONSE TO USERS’ NEEDS
S-PLUS 8 Enterprise Developer was put through a lengthy beta testing period to provide for the most comprehensive response to testers’ comments as well as thorough testing of new features and functions. Customers have responded enthusiastically to the new release.
Knut Wittkowski, director, Biostatistics/Epidemiology/Research Design Center for Clinical and Translational Science at Rockefeller University Hospital said, “S-PLUS 8 excels in the documentation of the algorithms being used and the addition of the Eclipse Workbench facilitates the implementation of novel results from statistical research.”
“The S-PLUS Package System in version 8 provides tools to develop S-PLUS packages easily and in a routinely automated way that should facilitate ready cross-talk with the R system and user,” said Brad Biggerstaff, mathematical statistician for the Division of Vector-Borne Infectious Diseases National Center for Infectious Diseases, Centers for Disease Control and Prevention. “I was able to build a package from existing code in a very reasonable time, and the documentation of this task was understandable and complete.”
AVAILABILITY/PLATFORMS
S-PLUS 8 is available today for Microsoft Windows®, Red Hat® Enterprise Linux® and Sun Solaris® operating systems.
“We are very pleased to announce the release of S-PLUS 8 Enterprise Developer, our most comprehensive development environment for statistical data analysis and predictive analytics,” said Jeff Coombs, CEO of Insightful. “S-PLUS 8 enables the rapid development of applications based on predictive analytic modeling and their delivery to a much broader set of users across the enterprise.”
Statistical analysis software
Wednesday, October 1, 2008
Insightful Corporation Reports Building Strong Momentum in Life Sciences
Major pharmaceutical companies select Insightful’s S-PLUS software and life sciences solutions over the past 12 months
SEATTLE - May 23, 2007 -
Insightful Corporation (NASDAQ:IFUL), a leading provider of predictive analytics and reporting solutions, today announced building momentum with large life sciences customers, including both new and expanding engagements over the past 12 months to integrate cutting edge analytics and graphics into all phases of the drug development life cycle.
Insightful counts a majority of the world’s leading pharmaceutical companies as customers, including Pfizer, Inc., AstraZeneca International, Johnson & Johnson, and Hoffman-La Roche, Inc. During the past 12 months, each of these four companies and many of the other leading pharmaceutical companies started new life sciences solutions projects with Insightful, expanded existing projects, or purchased more software licenses from Insightful.
Pfizer, Inc. has signed an agreement to deploy S-PLUS predictive analytics software within the company. Insightful's agreement with Pfizer is based on software license and maintenance fees.
Life Sciences Solutions Provide the Knowledge to Act™
Insightful provides life sciences organizations with the knowledge they need to drive faster, better decisions with specialized analytics, graphics and reporting formats. Insightful offers software and service solutions in clinical graphics, PK/PD reporting, clinical data review, innovative trial design, and safety data mining. These solutions are designed to act in concert with existing data management and workflow systems within validated environments to speed the analysis and reporting processes, to increase the likelihood of discerning safety and efficacy signals earlier in the development lifecycle thus decreasing our customers’ product development costs and time to market.
“The agreement with Pfizer, which was signed in December, was one of several with large life sciences companies over the past 12 months, which we believe reflects pharmaceutical companies’ demand for faster, better and more cost effective ways to analyze their data and report their results in all phases of the drug development lifecycle,” said Jeff Coombs, president and CEO of Insightful. “The analytic rigor and graphic superiority of our S-PLUS platform for pre-clinical, clinical, and regulatory submissions have been recognized by our customers as setting a standard of excellence in the industry.”
Statistical analysis software
SEATTLE - May 23, 2007 -
Insightful Corporation (NASDAQ:IFUL), a leading provider of predictive analytics and reporting solutions, today announced building momentum with large life sciences customers, including both new and expanding engagements over the past 12 months to integrate cutting edge analytics and graphics into all phases of the drug development life cycle.
Insightful counts a majority of the world’s leading pharmaceutical companies as customers, including Pfizer, Inc., AstraZeneca International, Johnson & Johnson, and Hoffman-La Roche, Inc. During the past 12 months, each of these four companies and many of the other leading pharmaceutical companies started new life sciences solutions projects with Insightful, expanded existing projects, or purchased more software licenses from Insightful.
Pfizer, Inc. has signed an agreement to deploy S-PLUS predictive analytics software within the company. Insightful's agreement with Pfizer is based on software license and maintenance fees.
Life Sciences Solutions Provide the Knowledge to Act™
Insightful provides life sciences organizations with the knowledge they need to drive faster, better decisions with specialized analytics, graphics and reporting formats. Insightful offers software and service solutions in clinical graphics, PK/PD reporting, clinical data review, innovative trial design, and safety data mining. These solutions are designed to act in concert with existing data management and workflow systems within validated environments to speed the analysis and reporting processes, to increase the likelihood of discerning safety and efficacy signals earlier in the development lifecycle thus decreasing our customers’ product development costs and time to market.
“The agreement with Pfizer, which was signed in December, was one of several with large life sciences companies over the past 12 months, which we believe reflects pharmaceutical companies’ demand for faster, better and more cost effective ways to analyze their data and report their results in all phases of the drug development lifecycle,” said Jeff Coombs, president and CEO of Insightful. “The analytic rigor and graphic superiority of our S-PLUS platform for pre-clinical, clinical, and regulatory submissions have been recognized by our customers as setting a standard of excellence in the industry.”
Statistical analysis software
Insightful Corporation Launches the Comprehensive S-PLUS® Archive Network (CSAN)
Site aids collaboration and cooperation among the S-PLUS programming community
SEATTLE - June 13, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the formal launch of its Comprehensive S-PLUS® Archive Network (CSAN) at http://csan.insightful.com for the submission and sharing of free S-PLUS packages for the open source and commercial statistical programming communities.
With its latest release, S-PLUS 8.0 Enterprise Developer, Insightful has delivered the S-PLUS package system, a set of features and functions that allows the delivery of complete statistical analysis software packages in S-PLUS. The system also includes tools for porting R packages for use in S-PLUS. The response from package developers and customers has been enthusiastic.
“We are very excited by the interest and contributions that we have received so far,” comments Dr. Stephen Kaluzny, senior engineering manager for Insightful Corporation and architect for the S-PLUS package system. “Early feedback from beta customers and from the R community indicates a strong interest in using the package system for collaboration and the reliable delivery of rigorous statistical analysis.”
Over 25 packages are currently available on the CSAN site free for download. Authors of new S-PLUS packages are encouraged to submit their packages to CSAN.
Currently available packages were submitted during the S-PLUS 8.0 beta period. They include work done by Insightful’s own research group and S-PLUS users and packages converted by R users, including the following:
* Richard Heiberger, from Temple University, contributed a package named "HH" which supports the extensive use of graphic displays for data exploration as described in his book, "Statistical Analysis and Data Display."
* Harry Southworth, from AstraZeneca Pharmaceutical, contributed a port from R of the "ismev" package which is designed to support the computations in the book, "An Introduction to Statistical Modeling of Extreme Values."
* Knut Wittkowski, from Rockefeller University, contributed the "muStat" package which performs nonparametric tests.
* Martyn Plummer, from the International Agency for Research on Cancer in Lyon, France, is a contributing author for a package named "coda" which provides output analysis and diagnostics for Markov Chain Monte Carlo simulations.
“This is a very encouraging development in the R/S-PLUS relationship,” states Uwe Ligges, from Dortmund University. “Insightful’s S-PLUS package system is a great start in bridging the gap between these statistical programming languages and we anticipate further cooperation will result in benefits for all statisticians, open source and commercial.”
“We are committed to furthering the science of statistical programming as a company,” says Jeff Coombs, president and CEO of Insightful Corporation. “We want to thank all of the contributing authors to the S-PLUS package system. The CSAN site enables our customers to benefit directly from cutting-edge work being done in the predictive analytics field, as well as providing them with a conduit for giving back to the worldwide statistics community.”
Statistical analysis software
SEATTLE - June 13, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the formal launch of its Comprehensive S-PLUS® Archive Network (CSAN) at http://csan.insightful.com for the submission and sharing of free S-PLUS packages for the open source and commercial statistical programming communities.
With its latest release, S-PLUS 8.0 Enterprise Developer, Insightful has delivered the S-PLUS package system, a set of features and functions that allows the delivery of complete statistical analysis software packages in S-PLUS. The system also includes tools for porting R packages for use in S-PLUS. The response from package developers and customers has been enthusiastic.
“We are very excited by the interest and contributions that we have received so far,” comments Dr. Stephen Kaluzny, senior engineering manager for Insightful Corporation and architect for the S-PLUS package system. “Early feedback from beta customers and from the R community indicates a strong interest in using the package system for collaboration and the reliable delivery of rigorous statistical analysis.”
Over 25 packages are currently available on the CSAN site free for download. Authors of new S-PLUS packages are encouraged to submit their packages to CSAN.
Currently available packages were submitted during the S-PLUS 8.0 beta period. They include work done by Insightful’s own research group and S-PLUS users and packages converted by R users, including the following:
* Richard Heiberger, from Temple University, contributed a package named "HH" which supports the extensive use of graphic displays for data exploration as described in his book, "Statistical Analysis and Data Display."
* Harry Southworth, from AstraZeneca Pharmaceutical, contributed a port from R of the "ismev" package which is designed to support the computations in the book, "An Introduction to Statistical Modeling of Extreme Values."
* Knut Wittkowski, from Rockefeller University, contributed the "muStat" package which performs nonparametric tests.
* Martyn Plummer, from the International Agency for Research on Cancer in Lyon, France, is a contributing author for a package named "coda" which provides output analysis and diagnostics for Markov Chain Monte Carlo simulations.
“This is a very encouraging development in the R/S-PLUS relationship,” states Uwe Ligges, from Dortmund University. “Insightful’s S-PLUS package system is a great start in bridging the gap between these statistical programming languages and we anticipate further cooperation will result in benefits for all statisticians, open source and commercial.”
“We are committed to furthering the science of statistical programming as a company,” says Jeff Coombs, president and CEO of Insightful Corporation. “We want to thank all of the contributing authors to the S-PLUS package system. The CSAN site enables our customers to benefit directly from cutting-edge work being done in the predictive analytics field, as well as providing them with a conduit for giving back to the worldwide statistics community.”
Statistical analysis software
Insightful Corporation Announces Insightful Impact 2007
User Conference to Showcase Innovative Solutions in the Use of Predictive Analytics and Reporting for Business Success
SEATTLE - June 27, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today its upcoming user conference, Insightful Impact 2007, to be held October 9th through 12th, 2007, at the Tropicana Resort and Casino in Atlantic City, New Jersey.
Keynotes for the event will include Dr. Thomas Davenport, author of Competing on Analytics, The New Science of Winning and Douglas Niemann of Zurich Financial Services an Insightful customer and Impact Award nominee.
The Impact of Predictive Analytics
Insightful Impact 2007 will feature three industry tracks showcasing the best practices and practical reality of implementing predictive analytics within an organization. Speakers will include executives from General Mills, DemandTec, Bank of America and AstraZeneca. Applications, case studies and industry standards will be presented and discussed within tracks for Financial Services, Life Sciences and Customer Analytics.
Research Posters and Special Sessions
Insightful has put out a call for research posters to provide a forum for authors to present their work in an informal setting. Poster submissions should provide information about how the presenters have applied S-PLUS® technology for data analysis and/or reporting to gain insight into a specific business problem. Poster submissions are being accepted at http://www.insightful.com/news_events/impact2007/participate/poster_registration.asp.
The conference will also provide two special sessions. The first is a presentation by Dr. Travis Moebes from Science Applications International Corporation (SAIC) at NASA who will present a recently released paper on his work analyzing Lithium Ion Battery data from the Shuttle, Space Station and Space Ship programs. The second session will be a panel discussion on the future of statistical computing chaired by Dr. Stephen Kaluzny.
Statistical analysis software
SEATTLE - June 27, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today its upcoming user conference, Insightful Impact 2007, to be held October 9th through 12th, 2007, at the Tropicana Resort and Casino in Atlantic City, New Jersey.
Keynotes for the event will include Dr. Thomas Davenport, author of Competing on Analytics, The New Science of Winning and Douglas Niemann of Zurich Financial Services an Insightful customer and Impact Award nominee.
The Impact of Predictive Analytics
Insightful Impact 2007 will feature three industry tracks showcasing the best practices and practical reality of implementing predictive analytics within an organization. Speakers will include executives from General Mills, DemandTec, Bank of America and AstraZeneca. Applications, case studies and industry standards will be presented and discussed within tracks for Financial Services, Life Sciences and Customer Analytics.
Research Posters and Special Sessions
Insightful has put out a call for research posters to provide a forum for authors to present their work in an informal setting. Poster submissions should provide information about how the presenters have applied S-PLUS® technology for data analysis and/or reporting to gain insight into a specific business problem. Poster submissions are being accepted at http://www.insightful.com/news_events/impact2007/participate/poster_registration.asp.
The conference will also provide two special sessions. The first is a presentation by Dr. Travis Moebes from Science Applications International Corporation (SAIC) at NASA who will present a recently released paper on his work analyzing Lithium Ion Battery data from the Shuttle, Space Station and Space Ship programs. The second session will be a panel discussion on the future of statistical computing chaired by Dr. Stephen Kaluzny.
Statistical analysis software
Insightful Corporation Schedules Announcement Of Financial Results For Second Quarter 2007
SEATTLE - July 19, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its second quarter 2007 financial results and conference call for Thursday, August 2, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before July 31, 2007, will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K.
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its second quarter 2007 financial results and conference call for Thursday, August 2, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before July 31, 2007, will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K.
Statistical analysis software
Insightful Corporation Presenting at 2007 Joint Statistical Meetings in Salt Lake City, Utah
Predictive analytics and reporting solutions provider hosting eight sessions focusing on statistical analysis and statistical graphics
SEATTLE - July 25, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that employees of the company will be presenting and/or chairing eight sessions at the 2007 Joint Statistical Meetings (JSM), the world’s largest annual gathering of statisticians, which will be held at Salt Lake City’s Salt Palace Convention Center from July 29, 2007 to August 2, 2007. Insightful will also be exhibiting in booths 418 and 420 throughout the conference.
During the conference, Insightful employees will be involved in the following eight sessions:
July 30, 2007
* “Applications of Visualization for Web 2.0”, Sven Knudson, Author, Session #132, 10:30 am-12:20 pm
* “S-PLUS and R-Package for Least Angle Regression”, Dr. Tim Hesterberg, Author, Session #209, 2:00 pm-3:50 pm
July 31, 2007
* “Uses of Packages in R and S-PLUS”, Dr. Stephen Kaluzny, Author, Session #294, 10:30 am – 12:20 am
* “Bootstrap Methods and Permutation Tests for Doing and Teaching Statistics”, Dr. Tim Hesterberg, Instructor, Session #CE 28C, 1:00 pm- 5:00 pm
* “Design Issues for Clinical Trials”, Dr. Jill Goldschneider, Chair, Session #335, 2:00-3:50 pm
August 1, 2007
* “How Scientists Can Work effectively with the Media”, Dr. Tim Hesterberg,Chair, Session #353, 8:30 am – 10:20 pm
* “Statistical Graphics for Analysis of Drug Safety and Efficacy”, Dr. Michael O’Connell, Author, and Dr. Stephen Kaluzny, Chair, Session #456, 2:00 pm -3:00 pm
* “Statistical and Graphical Analysis of Adverse Events Counts in Clinical Trials”, Dr. Michael O’Connell, Author, Session #456, 2:05 pm -2:30 pm
ABOUT JSM
JSM (the Joint Statistical Meetings) is the world’s largest gathering of statisticians It is held jointly with the American Statistical Association, the International Biometric Society (ENAR and WNAR), the Institute of Mathematical Statistics, and the Statistical Society of Canada. Attended by over 5000 people, activities of the meeting include oral presentations, panel sessions, poster presentations, continuing education courses, exhibit hall (with state-of-the-art statistical products and opportunities), career placement service, society and section business meetings, committee meetings, social activities, and networking opportunities.
Statistical analysis software
SEATTLE - July 25, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that employees of the company will be presenting and/or chairing eight sessions at the 2007 Joint Statistical Meetings (JSM), the world’s largest annual gathering of statisticians, which will be held at Salt Lake City’s Salt Palace Convention Center from July 29, 2007 to August 2, 2007. Insightful will also be exhibiting in booths 418 and 420 throughout the conference.
During the conference, Insightful employees will be involved in the following eight sessions:
July 30, 2007
* “Applications of Visualization for Web 2.0”, Sven Knudson, Author, Session #132, 10:30 am-12:20 pm
* “S-PLUS and R-Package for Least Angle Regression”, Dr. Tim Hesterberg, Author, Session #209, 2:00 pm-3:50 pm
July 31, 2007
* “Uses of Packages in R and S-PLUS”, Dr. Stephen Kaluzny, Author, Session #294, 10:30 am – 12:20 am
* “Bootstrap Methods and Permutation Tests for Doing and Teaching Statistics”, Dr. Tim Hesterberg, Instructor, Session #CE 28C, 1:00 pm- 5:00 pm
* “Design Issues for Clinical Trials”, Dr. Jill Goldschneider, Chair, Session #335, 2:00-3:50 pm
August 1, 2007
* “How Scientists Can Work effectively with the Media”, Dr. Tim Hesterberg,Chair, Session #353, 8:30 am – 10:20 pm
* “Statistical Graphics for Analysis of Drug Safety and Efficacy”, Dr. Michael O’Connell, Author, and Dr. Stephen Kaluzny, Chair, Session #456, 2:00 pm -3:00 pm
* “Statistical and Graphical Analysis of Adverse Events Counts in Clinical Trials”, Dr. Michael O’Connell, Author, Session #456, 2:05 pm -2:30 pm
ABOUT JSM
JSM (the Joint Statistical Meetings) is the world’s largest gathering of statisticians It is held jointly with the American Statistical Association, the International Biometric Society (ENAR and WNAR), the Institute of Mathematical Statistics, and the Statistical Society of Canada. Attended by over 5000 people, activities of the meeting include oral presentations, panel sessions, poster presentations, continuing education courses, exhibit hall (with state-of-the-art statistical products and opportunities), career placement service, society and section business meetings, committee meetings, social activities, and networking opportunities.
Statistical analysis software
Insightful Announces Operating Results for Second Quarter 2007
Reports 12% Revenue Growth over Second Quarter of 2006 in Core Data Analysis Business
SEATTLE - August 2, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the second quarter ended June 30, 2007.
Insightful reported total revenues of $5.5 million in the second quarter of 2007, an increase of 7% over revenues of $5.2 million in the second quarter of 2006. Total revenues associated with the company’s core data analysis product line increased by 12% in the second quarter of 2007 compared to the second quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.3 million in the second quarter of 2006 to $0.1 million in the second quarter of 2007. For the second quarter of 2007, Insightful reported a net loss of $1.3 million, or $0.10 per share, compared to a net loss of $0.4 million, or $.03 per share, for the second quarter of 2006.
Non-GAAP operating results, which exclude stock-based compensation expense and amortization of intangible assets, was a loss of $1.1 million, or $0.08 per share, for the second quarter of 2007, compared to a non-GAAP loss of $0.1 million, or $0.01 per share, for the second quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense and the amortization of intangible assets. The reconciliation of Insightful’s GAAP net loss to its non-GAAP loss for the quarters ended June 30, 2007 and 2006 are set forth at the end of this release.
“The second quarter marked our third consecutive quarter of double-digit year-over-year growth in data analysis revenue,” said Jeff Coombs, president and CEO of Insightful Corporation. “While we’re pleased that our core business grew compared to last year, driven entirely by growth in Europe, we’re disappointed that license revenues and domestic revenues declined year-over-year. During the second quarter we made our S-PLUS 8.0 Enterprise Developer desktop product generally available and we plan to deliver a series of high-value solutions targeted at the life science and financial services industries starting later this year.”
The company also reported separately today the sale of its InFact search technology and associated intellectual property rights to Hypertext Solutions Inc. for $3.65 million in cash. Hypertext is a Seattle-based startup company focused on making information on the web more “intelligent.” A gain will be recorded in Insightful’s financial results for the quarter ended September 30, 2007 in the amount of the purchase price less the direct costs of the transaction, which closed today.
Quarterly Highlights
* Software license revenues were $1.7 million in the second quarter of 2007, as compared to $2.2 million in the second quarter of 2006. License revenues from the company’s data analysis product line declined from $2.0 million to $1.6 million. License revenues from the company’s InFact product declined from $0.3 million to $0.1 million. Maintenance revenues increased to $2.0 million from $1.8 million.
* Professional services and other revenues were $1.8 million in the second quarter of 2007, as compared to $1.1 million in the second quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.5 million in the second quarter of 2007, as compared to $0.6 million in the second quarter of 2006.
* Domestic revenues were $2.9 million in the second quarter of 2007, as compared to $3.3 million in the second quarter of 2006. This decrease resulted in part from a $0.2 million decline in revenues from the InFact product line. International revenues were $2.6 million in the second quarter of 2007, as compared to $1.9 million in the second quarter of 2006.
* During the second quarter the company announced the general availability of S-PLUS® 8.0 Enterprise Developer, the latest major release of Insightful’s software platform for statistical data analysis and predictive analytics.
* The company accelerated its investment in solutions focused on the financial services and life sciences vertical markets, and on enhancing its core S-PLUS predictive analytic platform. As a result, net research and development expenses increased by 47% to $1.5 million in the second quarter of 2007, from $1.0 million in the second quarter of 2006, and increased as a percentage of revenues from 20% to 28%.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain expenses otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense and amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets was an event outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense and amortization of intangible assets may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows:
Statistical analysis software
SEATTLE - August 2, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the second quarter ended June 30, 2007.
Insightful reported total revenues of $5.5 million in the second quarter of 2007, an increase of 7% over revenues of $5.2 million in the second quarter of 2006. Total revenues associated with the company’s core data analysis product line increased by 12% in the second quarter of 2007 compared to the second quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.3 million in the second quarter of 2006 to $0.1 million in the second quarter of 2007. For the second quarter of 2007, Insightful reported a net loss of $1.3 million, or $0.10 per share, compared to a net loss of $0.4 million, or $.03 per share, for the second quarter of 2006.
Non-GAAP operating results, which exclude stock-based compensation expense and amortization of intangible assets, was a loss of $1.1 million, or $0.08 per share, for the second quarter of 2007, compared to a non-GAAP loss of $0.1 million, or $0.01 per share, for the second quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense and the amortization of intangible assets. The reconciliation of Insightful’s GAAP net loss to its non-GAAP loss for the quarters ended June 30, 2007 and 2006 are set forth at the end of this release.
“The second quarter marked our third consecutive quarter of double-digit year-over-year growth in data analysis revenue,” said Jeff Coombs, president and CEO of Insightful Corporation. “While we’re pleased that our core business grew compared to last year, driven entirely by growth in Europe, we’re disappointed that license revenues and domestic revenues declined year-over-year. During the second quarter we made our S-PLUS 8.0 Enterprise Developer desktop product generally available and we plan to deliver a series of high-value solutions targeted at the life science and financial services industries starting later this year.”
The company also reported separately today the sale of its InFact search technology and associated intellectual property rights to Hypertext Solutions Inc. for $3.65 million in cash. Hypertext is a Seattle-based startup company focused on making information on the web more “intelligent.” A gain will be recorded in Insightful’s financial results for the quarter ended September 30, 2007 in the amount of the purchase price less the direct costs of the transaction, which closed today.
Quarterly Highlights
* Software license revenues were $1.7 million in the second quarter of 2007, as compared to $2.2 million in the second quarter of 2006. License revenues from the company’s data analysis product line declined from $2.0 million to $1.6 million. License revenues from the company’s InFact product declined from $0.3 million to $0.1 million. Maintenance revenues increased to $2.0 million from $1.8 million.
* Professional services and other revenues were $1.8 million in the second quarter of 2007, as compared to $1.1 million in the second quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.5 million in the second quarter of 2007, as compared to $0.6 million in the second quarter of 2006.
* Domestic revenues were $2.9 million in the second quarter of 2007, as compared to $3.3 million in the second quarter of 2006. This decrease resulted in part from a $0.2 million decline in revenues from the InFact product line. International revenues were $2.6 million in the second quarter of 2007, as compared to $1.9 million in the second quarter of 2006.
* During the second quarter the company announced the general availability of S-PLUS® 8.0 Enterprise Developer, the latest major release of Insightful’s software platform for statistical data analysis and predictive analytics.
* The company accelerated its investment in solutions focused on the financial services and life sciences vertical markets, and on enhancing its core S-PLUS predictive analytic platform. As a result, net research and development expenses increased by 47% to $1.5 million in the second quarter of 2007, from $1.0 million in the second quarter of 2006, and increased as a percentage of revenues from 20% to 28%.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain expenses otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense and amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets was an event outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense and amortization of intangible assets may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows:
Statistical analysis software
Insightful Corporation Sells InFact
SEATTLE - August 2, 2007 -
Insightful Corporation (NASDAQ: IFUL), announced today the sale of its InFact search technology and associated intellectual property rights to Hypertext Solutions Inc. for $3.65 million in cash. Hypertext is a Seattle-based startup company focused on making information on the web more “intelligent.” The transaction closed today.
“Our move to sell the InFact technology enables us to focus on accelerating the growth of our S-PLUS product line and our Data Analysis business, which grew 14% during the first half of 2007 as compared to the first half of 2006,” said Jeff Coombs, President and CEO of Insightful Corporation. “We believe we are well positioned to drive additional growth in the predictive analytics space, and are currently investing heavily to deliver an increasingly enterprise-scalable platform and a series of high-value solutions targeted at the life science and financial services industries.”
Insightful will continue to support its current InFact customers, having received a support license to the InFact technology as part of the transaction, but will not be licensing the InFact product to new customers. Also as part of the agreement, Hypertext employed certain Insightful employees who were previously members of the InFact team.
“We are gratified to have created value for our stockholders through the hard work of our employees, in particular, Giovanni Marchisio, who remains with us as our Vice President of Research and Development,” said Coombs. “This sale marks the culmination of our efforts to explore multiple strategic alternatives for InFact.”
At the beginning of 2007, Insightful integrated its Text Analysis (InFact) product line more closely with its Data Analysis business, no longer treating Text Analysis as a separate segment. The company also announced at that time that it was no longer projecting significant revenues for the InFact product line.
A gain will be recorded in Insightful’s third quarter financial results for the amount of the purchase price less the direct costs of the transaction.
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), announced today the sale of its InFact search technology and associated intellectual property rights to Hypertext Solutions Inc. for $3.65 million in cash. Hypertext is a Seattle-based startup company focused on making information on the web more “intelligent.” The transaction closed today.
“Our move to sell the InFact technology enables us to focus on accelerating the growth of our S-PLUS product line and our Data Analysis business, which grew 14% during the first half of 2007 as compared to the first half of 2006,” said Jeff Coombs, President and CEO of Insightful Corporation. “We believe we are well positioned to drive additional growth in the predictive analytics space, and are currently investing heavily to deliver an increasingly enterprise-scalable platform and a series of high-value solutions targeted at the life science and financial services industries.”
Insightful will continue to support its current InFact customers, having received a support license to the InFact technology as part of the transaction, but will not be licensing the InFact product to new customers. Also as part of the agreement, Hypertext employed certain Insightful employees who were previously members of the InFact team.
“We are gratified to have created value for our stockholders through the hard work of our employees, in particular, Giovanni Marchisio, who remains with us as our Vice President of Research and Development,” said Coombs. “This sale marks the culmination of our efforts to explore multiple strategic alternatives for InFact.”
At the beginning of 2007, Insightful integrated its Text Analysis (InFact) product line more closely with its Data Analysis business, no longer treating Text Analysis as a separate segment. The company also announced at that time that it was no longer projecting significant revenues for the InFact product line.
A gain will be recorded in Insightful’s third quarter financial results for the amount of the purchase price less the direct costs of the transaction.
Statistical analysis software
Thursday, September 25, 2008
Insightful Corporation Releases Fractal Time Series Analysis Software
Analytics software sponsored by the National Institute of Health and the Air Force Office of Scientific Research
SEATTLE - September 6, 2007 -
(PRWEB) — Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate release of three time series analysis software packages via Insightful’s Comprehensive S-PLUS® Archive Network (CSAN). The development of these software packages was supported by the National Institutes of Health under grant number R44LM007146, entitled "Fractal Modeling of Biomedical Time Series in S-PLUS," and by the Air Force Office of Scientific Research under contract number F49620-99-C-0039, entitled “Wavelet-Based Analysis and Software for Multi-Scale Fractal Processes.”
“We are pleased to have developed and released the first S-PLUS packages for fractal time series modeling and analysis,” said Dr. Jill R. Goldschneider, director of research of Insightful. “We believe these S-PLUS packages will contribute to research in advanced statistical computing around the world, reinforcing Insightful’s leadership in the development of cutting edge statistics.”
Simply put, the term "fractal" means that certain statistical measures of data are invariant upon rescaling the data. However, the measures are quite different for stochastic and deterministic models (e.g., invariance in distributional properties in the former and invariance in space-filling properties in the latter). Researchers have used stochastic fractal models to interpret observed data from real-world systems such as cardio-dynamics (heart rate variability), turbulence, atmospheric and climate changes, atomic clock deviations, sea ice measurements and blood flow.
Insightful has released the following time series packages via CSAN at http://csan.insightful.com:
* FRACTAL: stochastic fractal time series and nonlinear modeling
* WMTSA: wavelet methods for time series analysis
* SAPA: spectral analysis for physical applications
Funding from the awards was recorded in the company’s financial statements as a reduction to research and development expense. The contents of the results of the grants are solely the responsibility of the authors and do not necessarily represent the official views of the National Institutes of Health or the Air Force Office of Scientific Research.
Statistical analysis software
SEATTLE - September 6, 2007 -
(PRWEB) — Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate release of three time series analysis software packages via Insightful’s Comprehensive S-PLUS® Archive Network (CSAN). The development of these software packages was supported by the National Institutes of Health under grant number R44LM007146, entitled "Fractal Modeling of Biomedical Time Series in S-PLUS," and by the Air Force Office of Scientific Research under contract number F49620-99-C-0039, entitled “Wavelet-Based Analysis and Software for Multi-Scale Fractal Processes.”
“We are pleased to have developed and released the first S-PLUS packages for fractal time series modeling and analysis,” said Dr. Jill R. Goldschneider, director of research of Insightful. “We believe these S-PLUS packages will contribute to research in advanced statistical computing around the world, reinforcing Insightful’s leadership in the development of cutting edge statistics.”
Simply put, the term "fractal" means that certain statistical measures of data are invariant upon rescaling the data. However, the measures are quite different for stochastic and deterministic models (e.g., invariance in distributional properties in the former and invariance in space-filling properties in the latter). Researchers have used stochastic fractal models to interpret observed data from real-world systems such as cardio-dynamics (heart rate variability), turbulence, atmospheric and climate changes, atomic clock deviations, sea ice measurements and blood flow.
Insightful has released the following time series packages via CSAN at http://csan.insightful.com:
* FRACTAL: stochastic fractal time series and nonlinear modeling
* WMTSA: wavelet methods for time series analysis
* SAPA: spectral analysis for physical applications
Funding from the awards was recorded in the company’s financial statements as a reduction to research and development expense. The contents of the results of the grants are solely the responsibility of the authors and do not necessarily represent the official views of the National Institutes of Health or the Air Force Office of Scientific Research.
Statistical analysis software
Insightful Corporation Releases S-PLUS® 8 Enterprise Server
New server platform provides improved scalability, reliability and compliance with IT standards for deployment of analytics applications across the enterprise
SEATTLE - September 25, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S-PLUS® 8 Enterprise Server, the latest release of Insightful’s software platform for statistical data analysis and predictive analytics.
S-PLUS 8 Enterprise Server provides organizations with the ability to deploy predictive analytics across the enterprise for improved communication and decision-making. Insightful delivers the knowledge to act immediately and decisively, assisting customers in improving operations and enhancing their competitive advantage.
KEY FEATURES IN S-PLUS 8 ENTERPRISE SERVER
* Greater Scalability: The server architecture allows for robust and efficient processing of analytic jobs including load balancing across server clusters. Synchronous and asynchronous access, queuing and scheduling of jobs provides greater flexibility for better performance during peak processing times. Support for 64 bit platforms and out-of-memory processing allow for greater volumes of data to be analyzed faster than with previous versions.
* Improved Security: Single sign-on or pass through authentication through either LDAP or Microsoft® Active Directory® is supported. Encryption is supported through HTTPS or SSL protocols.
* Compliance with IT Standards: Integration and extension of the server is supported through a Services Oriented Architecture including documented C#, .Net, Java, JavaScript, HTTP/URL API’s and rich client examples.
S-PLUS 8 ENTERPRISE SERVER: CONTINUING EVOLUTION FOR ENTERPRISE DEPLOYMENT
S-PLUS 8 Enterprise Server is specifically designed to support the enterprise wide deployment and integration of analytic applications and reporting. The key benefits provided to customers are:
* Improved communication: Results and measurements can be presented in easy-to-understand graphic displays. Decision makers get all of the information they need in an easy-to-understand format for full comprehension of the data being analyzed.
* Timely, fact-based decisions: Rapid response to queries and desktop delivery of results through a web-based portal or custom rich client integration provides decision makers fast and statistically rigorous results upon which to make vital choices for the health of their business.
* Low total cost of ownership: Perpetual licensing coupled with support for popular IT deployment standards make maintenance of the S-PLUS 8 Enterprise Server a much more cost effective alternative to competitive systems.
AVAILABILITY/PLATFORMS
S-PLUS 8 Enterprise Server is available today for the following server environments:
* 32 Bit: Windows, Solaris 8/9/10
* 32 Bit & 64 Bit: Red Hat Linux 3,4, SUSE Linux 10
* In addition, 64 Bit: HP-UX 11i. IBM AIX 5.x will be available later this year.
“We are very pleased to announce the release of S-PLUS 8 Enterprise Server,” said Jeff Coombs, CEO of Insightful. “We are committed to a process of continuous improvement in performance and reliability of our production platform in support of our customers’ enterprise deployment of predictive analytics and reporting applications.”
Statistical analysis software
SEATTLE - September 25, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S-PLUS® 8 Enterprise Server, the latest release of Insightful’s software platform for statistical data analysis and predictive analytics.
S-PLUS 8 Enterprise Server provides organizations with the ability to deploy predictive analytics across the enterprise for improved communication and decision-making. Insightful delivers the knowledge to act immediately and decisively, assisting customers in improving operations and enhancing their competitive advantage.
KEY FEATURES IN S-PLUS 8 ENTERPRISE SERVER
* Greater Scalability: The server architecture allows for robust and efficient processing of analytic jobs including load balancing across server clusters. Synchronous and asynchronous access, queuing and scheduling of jobs provides greater flexibility for better performance during peak processing times. Support for 64 bit platforms and out-of-memory processing allow for greater volumes of data to be analyzed faster than with previous versions.
* Improved Security: Single sign-on or pass through authentication through either LDAP or Microsoft® Active Directory® is supported. Encryption is supported through HTTPS or SSL protocols.
* Compliance with IT Standards: Integration and extension of the server is supported through a Services Oriented Architecture including documented C#, .Net, Java, JavaScript, HTTP/URL API’s and rich client examples.
S-PLUS 8 ENTERPRISE SERVER: CONTINUING EVOLUTION FOR ENTERPRISE DEPLOYMENT
S-PLUS 8 Enterprise Server is specifically designed to support the enterprise wide deployment and integration of analytic applications and reporting. The key benefits provided to customers are:
* Improved communication: Results and measurements can be presented in easy-to-understand graphic displays. Decision makers get all of the information they need in an easy-to-understand format for full comprehension of the data being analyzed.
* Timely, fact-based decisions: Rapid response to queries and desktop delivery of results through a web-based portal or custom rich client integration provides decision makers fast and statistically rigorous results upon which to make vital choices for the health of their business.
* Low total cost of ownership: Perpetual licensing coupled with support for popular IT deployment standards make maintenance of the S-PLUS 8 Enterprise Server a much more cost effective alternative to competitive systems.
AVAILABILITY/PLATFORMS
S-PLUS 8 Enterprise Server is available today for the following server environments:
* 32 Bit: Windows, Solaris 8/9/10
* 32 Bit & 64 Bit: Red Hat Linux 3,4, SUSE Linux 10
* In addition, 64 Bit: HP-UX 11i. IBM AIX 5.x will be available later this year.
“We are very pleased to announce the release of S-PLUS 8 Enterprise Server,” said Jeff Coombs, CEO of Insightful. “We are committed to a process of continuous improvement in performance and reliability of our production platform in support of our customers’ enterprise deployment of predictive analytics and reporting applications.”
Statistical analysis software
Insightful Corporation Releases S+FinMetrics 3.0
New release of econometrics library provides market leading time-series modeling, asset valuation, and financial analytics
SEATTLE - September 26, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S+FinMetrics® 3.0 for S-PLUS® 8.0, the latest release of Insightful’s software library for advanced financial data analysis.
S+FinMetrics 3.0 provides quantitative analysts and developers with a comprehensive set of financial analytics. Included in the library are vital additions and enhanced features including:
* State-space models and Kalman filter tools
* High frequency functionality
* Option pricing
* Fixed Income calculations
“S+FinMetrics 3.0 is a significant expansion in functionality over the previous version,” said Dr. Eric Zivot, Professor and Gary Waterman Distinguished Scholar in the Economics Department and an Adjunct Professor of Finance in the Business School at the University of Washington. “The specific state space modeling tools for credit risk and option pricing and fixed income pricing functions have greatly enhanced the module, making it a better and more comprehensive collection than ever before.”
CUSTOMER BENEFITS
S+FinMetrics 3.0 combined with S-PLUS 8.0 provides a modeling environment that allows quantitative analysts to explore scenarios and determine results faster. Graphical reporting enables results to be communicated clearly across all audience types. Faster results and clearer communications can assist companies in developing better financial products and responding to changes in the marketplace quickly, in order to maximize profit while minimizing risk.
“The release of S+FinMetrics 3.0 is a breakthrough in providing scalable commercial deployment for the latest and most advanced econometric models,” said Jeff Coombs, president and CEO of Insightful. “We are committed to bringing our customers competitive advantage in the financial markets through the deployment of advanced analytics across the enterprise.”
Statistical analysis software
SEATTLE - September 26, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S+FinMetrics® 3.0 for S-PLUS® 8.0, the latest release of Insightful’s software library for advanced financial data analysis.
S+FinMetrics 3.0 provides quantitative analysts and developers with a comprehensive set of financial analytics. Included in the library are vital additions and enhanced features including:
* State-space models and Kalman filter tools
* High frequency functionality
* Option pricing
* Fixed Income calculations
“S+FinMetrics 3.0 is a significant expansion in functionality over the previous version,” said Dr. Eric Zivot, Professor and Gary Waterman Distinguished Scholar in the Economics Department and an Adjunct Professor of Finance in the Business School at the University of Washington. “The specific state space modeling tools for credit risk and option pricing and fixed income pricing functions have greatly enhanced the module, making it a better and more comprehensive collection than ever before.”
CUSTOMER BENEFITS
S+FinMetrics 3.0 combined with S-PLUS 8.0 provides a modeling environment that allows quantitative analysts to explore scenarios and determine results faster. Graphical reporting enables results to be communicated clearly across all audience types. Faster results and clearer communications can assist companies in developing better financial products and responding to changes in the marketplace quickly, in order to maximize profit while minimizing risk.
“The release of S+FinMetrics 3.0 is a breakthrough in providing scalable commercial deployment for the latest and most advanced econometric models,” said Jeff Coombs, president and CEO of Insightful. “We are committed to bringing our customers competitive advantage in the financial markets through the deployment of advanced analytics across the enterprise.”
Statistical analysis software
Insightful Corporation Named in Deloitte's Technology Fast 50 Program for Washington State
Company attributes growing demand for predictive analytics and reporting solutions for its 46 % percent revenue growth over 5 years
SEATTLE - October 1, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that the company has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest-growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years, from 2002 to 2006.
Insightful’s CEO Jeff Coombs credits the growing demand for predictive analytics and reporting solutions for the company's 46 percent revenue growth from 2002 to 2006. “We are seeing a growing realization by companies across all industries – but particularly life science and financial services – of the imperative to analyze their data and communicate the results efficiently and effectively, unlocking hidden insight and detecting the subtle relationships that can deliver competitive advantage. Our solutions provide enterprises with the knowledge to act quickly and decisively.”
Insightful's increase in revenues of 46 percent from 2002 to 2006 resulted in a ranking of 46th in the Technology Fast 50 for Washington State.
“Deloitte’s Washington State Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Larry Hile, a partner with Deloitte & Touche LLP in Seattle. “We applaud the successes of Insightful and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
This year’s Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie LLP, Citibank, AH&T Insurance and the Puget Sound Business Journal.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Statistical analysis software
SEATTLE - October 1, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that the company has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest-growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years, from 2002 to 2006.
Insightful’s CEO Jeff Coombs credits the growing demand for predictive analytics and reporting solutions for the company's 46 percent revenue growth from 2002 to 2006. “We are seeing a growing realization by companies across all industries – but particularly life science and financial services – of the imperative to analyze their data and communicate the results efficiently and effectively, unlocking hidden insight and detecting the subtle relationships that can deliver competitive advantage. Our solutions provide enterprises with the knowledge to act quickly and decisively.”
Insightful's increase in revenues of 46 percent from 2002 to 2006 resulted in a ranking of 46th in the Technology Fast 50 for Washington State.
“Deloitte’s Washington State Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Larry Hile, a partner with Deloitte & Touche LLP in Seattle. “We applaud the successes of Insightful and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
This year’s Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie LLP, Citibank, AH&T Insurance and the Puget Sound Business Journal.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Statistical analysis software
Insightful Corporation Announces 2007 Impact Award Winners
ImClone Systems, Macronix, Time/Warner Retail Sales & Marketing and Zurich Financial Services Honored For Driving Business Benefits and Delivering Competitive Advantage
SEATTLE - October 22, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that ImClone Systems, Macronix, Time/Warner Retail Sales & Marketing and Zurich Financial Services were awarded with the 2007 Insightful Impact Award at the company’s annual user conference. All four award-winning companies have deployed Insightful’s predictive analytics and reporting solutions, leading to significant impact on their growth and/or profitability.
“This year’s winners have delivered innovative solutions to important issues facing their businesses,” said Jeff Coombs, president and chief executive officer of Insightful. “We are pleased and proud that Insightful’s predictive analytics and reporting solutions have been used to develop substantial cost efficiencies and competitive advantage for our customers.”
Following is a brief description of the award winning applications:
* ImClone Systems, a fully integrated biopharmaceutical company, has deployed S-PLUS® Enterprise Server to create an intuitive system that tracks all of its production metrics, thereby enabling the company to produce products more quickly and efficiently.
* Macronix, a Taiwanese integrated device manufacturer, is providing engineering and business data analysis on demand across its entire production pipeline by implementing Insightful’s S-PLUS Enterprise Server along with customer-developed JavaÒ applications.
* Time/Warner Retail Sales & Marketing, the largest publisher-owned magazine retail marketer and distribution services company in the US, has improved production and distribution profitability as well as created a whole new data business by deploying Insightful’s S-PLUS Enterprise Server as its predictive analytics and reporting solution.
* Zurich Financial Services, an insurance-based financial services provider, utilized S-PLUS Enterprise Server to enable systems from all over the world to share data, models and results within its Risk Modeling Platform.
Statistical analysis software
SEATTLE - October 22, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that ImClone Systems, Macronix, Time/Warner Retail Sales & Marketing and Zurich Financial Services were awarded with the 2007 Insightful Impact Award at the company’s annual user conference. All four award-winning companies have deployed Insightful’s predictive analytics and reporting solutions, leading to significant impact on their growth and/or profitability.
“This year’s winners have delivered innovative solutions to important issues facing their businesses,” said Jeff Coombs, president and chief executive officer of Insightful. “We are pleased and proud that Insightful’s predictive analytics and reporting solutions have been used to develop substantial cost efficiencies and competitive advantage for our customers.”
Following is a brief description of the award winning applications:
* ImClone Systems, a fully integrated biopharmaceutical company, has deployed S-PLUS® Enterprise Server to create an intuitive system that tracks all of its production metrics, thereby enabling the company to produce products more quickly and efficiently.
* Macronix, a Taiwanese integrated device manufacturer, is providing engineering and business data analysis on demand across its entire production pipeline by implementing Insightful’s S-PLUS Enterprise Server along with customer-developed JavaÒ applications.
* Time/Warner Retail Sales & Marketing, the largest publisher-owned magazine retail marketer and distribution services company in the US, has improved production and distribution profitability as well as created a whole new data business by deploying Insightful’s S-PLUS Enterprise Server as its predictive analytics and reporting solution.
* Zurich Financial Services, an insurance-based financial services provider, utilized S-PLUS Enterprise Server to enable systems from all over the world to share data, models and results within its Risk Modeling Platform.
Statistical analysis software
Insightful Corporation Schedules Announcement of Financial Results for Third Quarter
SEATTLE - October 23, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its third quarter 2007 financial results and conference call for Friday, November 2, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before October 31, 2007, will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K.
An audio replay of the call will be available beginning at 6:00 p.m. PT the day of the call and ending at Midnight, PT November 9, 2007. An audio archive of the call will be available in MP3 format beginning November 9, 2007 and ending the first business day after the company’s fourth quarter 2007 conference call, in the Investor Relations section of the Insightful website located at http://www.insightful.com/investors/.
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its third quarter 2007 financial results and conference call for Friday, November 2, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before October 31, 2007, will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K.
An audio replay of the call will be available beginning at 6:00 p.m. PT the day of the call and ending at Midnight, PT November 9, 2007. An audio archive of the call will be available in MP3 format beginning November 9, 2007 and ending the first business day after the company’s fourth quarter 2007 conference call, in the Investor Relations section of the Insightful website located at http://www.insightful.com/investors/.
Statistical analysis software
Insightful Announces Operating Results for Third Quarter 2007
SEATTLE - November 2, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the third quarter ended September 30, 2007.
Insightful reported total revenues of $4.9 million in the third quarter of 2007, a decline of 16% when compared to revenues of $5.9 million in the third quarter of 2006. Total revenues associated with the company’s core data analysis product line decreased by 15% in the third quarter of 2007 compared to the third quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.2 million in the third quarter of 2006 to $0.1 million in the third quarter of 2007. For the third quarter of 2007, Insightful reported net income of $1.9 million, or $0.14 per diluted share, compared to net income of $0.3 million, or $0.02 per diluted share, for the third quarter of 2006. Net income for the third quarter of 2007 includes a gain of $3.5 million on the sale of the company’s InFact search technology and associated intellectual property rights.
Non-GAAP operating results, which excludes stock-based compensation expense, amortization of intangible assets and the gain on the sale of InFact, were a loss of $1.4 million, or $0.11 per diluted share, for the third quarter of 2007, compared to a profit of $0.6 million, or $0.04 per diluted share, for the third quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense, the amortization of intangible assets and the gain on the sale of the company’s InFact search technology and associated intellectual property rights. The reconciliation of Insightful’s GAAP net loss to its non-GAAP loss for the quarters ended September 30, 2007 and 2006 are set forth at the end of this release.
“We are disappointed with our results for the quarter,” said Jeff Coombs, president and CEO of Insightful. “We continue to feel that our strategic direction, to deliver packaged predictive analytic solutions built on an enterprise-scale S-PLUS platform, remains sound. However, we suffered from poor sales execution. Our lower revenues for the third quarter were in part a result of turnover in critical sales functions, of focusing too early on long sales cycles for products and solutions that have not yet been released, and of not closing the larger deals in our pipeline. We also saw declines in our professional services revenues, as custom projects dropped off in anticipation of product releases of packaged solutions.”
Continued Coombs, “We are determined to return to profitability while continuing to build a sound foundation for future revenue growth. To further our strategic enterprise direction, during the third quarter we released S-PLUS 8 Enterprise Server, a new analytic platform that provides improved scalability, reliability and compliance with IT standards for deployment of analytics applications across the enterprise, and continued our development of vertical solutions built on the S-PLUS 8 platform. Additionally, we’ve recognized the need for a unified worldwide sales and operations function. To this end, we are actively recruiting for a vice president of worldwide sales and professional services. Our regional vice presidents have resigned. Our vice president of North American sales has already left the company and our vice president of Europe will be transitioning out by the end of this quarter. The focus of the new function will be to unify and sell one set of worldwide solutions, thereby bringing scalability, simplicity, and effectiveness to our global sales operations.”
Quarterly Highlights
* Software license revenues were $1.6 million in the third quarter of 2007, as compared to $2.3 million in the third quarter of 2006. License revenues from the company’s data analysis product line decreased from $2.1 million to $1.5 million. License revenues from the company’s InFact product decreased from $0.2 million to $0.1 million.
* Maintenance revenues were $2.1 million in the third quarter of 2007, as compared to $1.9 million in the third quarter of 2006.
* Professional services and other revenues were $1.2 million in the third quarter of 2007, as compared to $1.7 million in the third quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.46 million in the third quarter of 2007, as compared to $0.55 million in the third quarter of 2006.
* Domestic revenues were $2.5 million in the third quarter of 2007, as compared to $3.4 million in the third quarter of 2006. This decrease resulted primarily from a $0.7 decrease in revenues from the data analysis product line. International revenues were $2.4 million in the third quarter of 2007, as compared to $2.5 million in the third quarter of 2006.
* The company accelerated its investment in solutions focused on solutions in key vertical markets, and on enhancing its core S-PLUS® predictive analytic platform. As a result, net research and development expenses increased by 17% to $1.4 million in the third quarter of 2007, as compared to $1.2 million in the third quarter of 2006, and increased as a percentage of revenues from 20% to 28%.
* The company released S-PLUS 8 Enterprise Server, the latest release of its predictive analytic platform, and S+FinMetrics® 3.0, the latest release of its software library for advanced financial data analysis.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain items otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense, amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language and the gain on the sale of the InFact search technology and associated intellectual property rights. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets and the sale of the InFact-related technology and intellectual property were events outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense, amortization of intangible assets and the gain in the sale of InFact may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows (in thousands, except share data):
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the third quarter ended September 30, 2007.
Insightful reported total revenues of $4.9 million in the third quarter of 2007, a decline of 16% when compared to revenues of $5.9 million in the third quarter of 2006. Total revenues associated with the company’s core data analysis product line decreased by 15% in the third quarter of 2007 compared to the third quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.2 million in the third quarter of 2006 to $0.1 million in the third quarter of 2007. For the third quarter of 2007, Insightful reported net income of $1.9 million, or $0.14 per diluted share, compared to net income of $0.3 million, or $0.02 per diluted share, for the third quarter of 2006. Net income for the third quarter of 2007 includes a gain of $3.5 million on the sale of the company’s InFact search technology and associated intellectual property rights.
Non-GAAP operating results, which excludes stock-based compensation expense, amortization of intangible assets and the gain on the sale of InFact, were a loss of $1.4 million, or $0.11 per diluted share, for the third quarter of 2007, compared to a profit of $0.6 million, or $0.04 per diluted share, for the third quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense, the amortization of intangible assets and the gain on the sale of the company’s InFact search technology and associated intellectual property rights. The reconciliation of Insightful’s GAAP net loss to its non-GAAP loss for the quarters ended September 30, 2007 and 2006 are set forth at the end of this release.
“We are disappointed with our results for the quarter,” said Jeff Coombs, president and CEO of Insightful. “We continue to feel that our strategic direction, to deliver packaged predictive analytic solutions built on an enterprise-scale S-PLUS platform, remains sound. However, we suffered from poor sales execution. Our lower revenues for the third quarter were in part a result of turnover in critical sales functions, of focusing too early on long sales cycles for products and solutions that have not yet been released, and of not closing the larger deals in our pipeline. We also saw declines in our professional services revenues, as custom projects dropped off in anticipation of product releases of packaged solutions.”
Continued Coombs, “We are determined to return to profitability while continuing to build a sound foundation for future revenue growth. To further our strategic enterprise direction, during the third quarter we released S-PLUS 8 Enterprise Server, a new analytic platform that provides improved scalability, reliability and compliance with IT standards for deployment of analytics applications across the enterprise, and continued our development of vertical solutions built on the S-PLUS 8 platform. Additionally, we’ve recognized the need for a unified worldwide sales and operations function. To this end, we are actively recruiting for a vice president of worldwide sales and professional services. Our regional vice presidents have resigned. Our vice president of North American sales has already left the company and our vice president of Europe will be transitioning out by the end of this quarter. The focus of the new function will be to unify and sell one set of worldwide solutions, thereby bringing scalability, simplicity, and effectiveness to our global sales operations.”
Quarterly Highlights
* Software license revenues were $1.6 million in the third quarter of 2007, as compared to $2.3 million in the third quarter of 2006. License revenues from the company’s data analysis product line decreased from $2.1 million to $1.5 million. License revenues from the company’s InFact product decreased from $0.2 million to $0.1 million.
* Maintenance revenues were $2.1 million in the third quarter of 2007, as compared to $1.9 million in the third quarter of 2006.
* Professional services and other revenues were $1.2 million in the third quarter of 2007, as compared to $1.7 million in the third quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.46 million in the third quarter of 2007, as compared to $0.55 million in the third quarter of 2006.
* Domestic revenues were $2.5 million in the third quarter of 2007, as compared to $3.4 million in the third quarter of 2006. This decrease resulted primarily from a $0.7 decrease in revenues from the data analysis product line. International revenues were $2.4 million in the third quarter of 2007, as compared to $2.5 million in the third quarter of 2006.
* The company accelerated its investment in solutions focused on solutions in key vertical markets, and on enhancing its core S-PLUS® predictive analytic platform. As a result, net research and development expenses increased by 17% to $1.4 million in the third quarter of 2007, as compared to $1.2 million in the third quarter of 2006, and increased as a percentage of revenues from 20% to 28%.
* The company released S-PLUS 8 Enterprise Server, the latest release of its predictive analytic platform, and S+FinMetrics® 3.0, the latest release of its software library for advanced financial data analysis.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain items otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense, amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language and the gain on the sale of the InFact search technology and associated intellectual property rights. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets and the sale of the InFact-related technology and intellectual property were events outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense, amortization of intangible assets and the gain in the sale of InFact may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows (in thousands, except share data):
Statistical analysis software
Insightful Corporation Launches Insightful Clinical Graphics
iCG reduces the time and resources necessary to meet graphics requirements in drug discovery, development and marketing
SEATTLE - December 17, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of Insightful Clinical Graphics (iCG), a software and services solution for defining and repurposing statistical graphics across all functional areas in drug discovery, development and marketing.
With input from multiple life sciences companies, Insightful designed iCG to simplify the creation and re-use of statistical graphics and elimination of redundant work processes. From discovery and pre-clinical and clinical trials, through marketing and epidemiology, iCG enables scientific data to be presented as actionable information in clinical study reports, regulatory submissions, publications and presentations.
Today, highly skilled statistical programming talent is needed to reprogram, test and QA the numerous statistical graphs used for analysis and reporting of various studies’ data. iCG allows non-programming statisticians, clinicians and medical writers to apply customizable graph templates to study data, and to change a graph style, without compromising the data or the results displayed. iCG is designed to save pharmaceutical companies time and to assist in optimizing the deployment of their expensive statistical programming resources.
"Engaging non-technical workers in the decision-making process and exposing them to the power of statistical analysis represents a significant market opportunity," said Chris Connor, senior research analyst at Health Industry Insights, an IDC company. "In the life science industry, the increasing amount of data being generated is becoming counterproductive. Solutions that can distill data into actionable information and increase focus across the value chain stand to fundamentally change the development process."
“Insightful Clinical Graphics reduces the time and resources needed for graphical review and submission reporting of pre-clinical and clinical data, while providing consistent information flow between functional areas and regulatory agencies,” said Dr. Michael O’Connell, Director of Life Sciences for Insightful. “iCG’s statistical graphics palette and collaborative platform for graphical analysis enable pharmaceutical companies to identify safety and efficacy signals sooner, without burdening their expensive programming assets or risking the integrity of their analyses.”
Insightful Life Sciences Solutions Provide the Knowledge to Act™
Insightful provides life sciences organizations with the knowledge they need to drive faster, better decisions, with specialized analytics, graphics and reporting. Insightful offers software and service solutions in statistical graphics, PK/PD analysis and reporting, clinical data review, clinical trial design, and safety data analysis. These solutions are designed to integrate with existing data management and workflow systems in exploratory and validated environments, to speed the analysis and reporting processes and increase the likelihood of discerning safety and efficacy signals earlier in the drug development process, thus decreasing customers’ product development costs and time to market.
Statistical analysis software
SEATTLE - December 17, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of Insightful Clinical Graphics (iCG), a software and services solution for defining and repurposing statistical graphics across all functional areas in drug discovery, development and marketing.
With input from multiple life sciences companies, Insightful designed iCG to simplify the creation and re-use of statistical graphics and elimination of redundant work processes. From discovery and pre-clinical and clinical trials, through marketing and epidemiology, iCG enables scientific data to be presented as actionable information in clinical study reports, regulatory submissions, publications and presentations.
Today, highly skilled statistical programming talent is needed to reprogram, test and QA the numerous statistical graphs used for analysis and reporting of various studies’ data. iCG allows non-programming statisticians, clinicians and medical writers to apply customizable graph templates to study data, and to change a graph style, without compromising the data or the results displayed. iCG is designed to save pharmaceutical companies time and to assist in optimizing the deployment of their expensive statistical programming resources.
"Engaging non-technical workers in the decision-making process and exposing them to the power of statistical analysis represents a significant market opportunity," said Chris Connor, senior research analyst at Health Industry Insights, an IDC company. "In the life science industry, the increasing amount of data being generated is becoming counterproductive. Solutions that can distill data into actionable information and increase focus across the value chain stand to fundamentally change the development process."
“Insightful Clinical Graphics reduces the time and resources needed for graphical review and submission reporting of pre-clinical and clinical data, while providing consistent information flow between functional areas and regulatory agencies,” said Dr. Michael O’Connell, Director of Life Sciences for Insightful. “iCG’s statistical graphics palette and collaborative platform for graphical analysis enable pharmaceutical companies to identify safety and efficacy signals sooner, without burdening their expensive programming assets or risking the integrity of their analyses.”
Insightful Life Sciences Solutions Provide the Knowledge to Act™
Insightful provides life sciences organizations with the knowledge they need to drive faster, better decisions, with specialized analytics, graphics and reporting. Insightful offers software and service solutions in statistical graphics, PK/PD analysis and reporting, clinical data review, clinical trial design, and safety data analysis. These solutions are designed to integrate with existing data management and workflow systems in exploratory and validated environments, to speed the analysis and reporting processes and increase the likelihood of discerning safety and efficacy signals earlier in the drug development process, thus decreasing customers’ product development costs and time to market.
Statistical analysis software
Insightful Solutions for Statistical Modeling/Graphical Analysis of Safety Data in Clinical Trials
Speaker: Dr. Michael O'Connell, Director Life Science Solutions, Insightful Corporation
Download the web cast presentation.
Drug safety issues continue to drive headlines up and stock prices down. The past 12 months have seen failure of high profile drugs in late stage clinical trials (e.g. torcetrapib), withdrawal of drugs from market (e.g. Trayslol) and black-box warnings resulting from academic journal articles (e.g. Avandia).
The Insightful Clinical Graphics™ and Insightful Clinical Review™ Solutions are geared towards rapid and accurate analysis and reporting of safety data. They incorporate targeted statistical and graphical analyses for AE’s, labs and vitals; in alignment with FDA safety guidances e.g. the recent Oct 07 guidance on drug induced liver injury (DILI). The Solutions are designed to address sparse data and multiple endpoints issues with safety data.
Insightful Clinical Graphics provides a standard library of statistical graphics for safety data analysis, and enables simple sharing and re-purposing of graphical analyses in user-friendly interfaces and workflows. Built on the S-PLUS Enterprise Server, Insightful Clinical Graphics is scalable to large groups of statisticians, clinicians and programmers.
Statistically sound safety data analyses, and their resulting interactive graphical/tabular review and report outputs, have immense value for pharmaceutical companies, drug safety monitoring boards and regulatory agencies such as the FDA. We invite statisticians, clinicians and management across the industry to join this webcast, and this movement towards better safety data analysis, clinical review and study reporting.
Michael O'Connell runs the Life Science Solutions effort at Insightful. Michael has been working in the medical device, diagnostics, pharmaceutical and biotech arena for the past 15 years. His background and graduate work was in applied statistics and he has published more than 50 papers on statistical methods and life science applications including calibration, mixed models, and nonparametric regression. He has also written several statistical software packages and libraries. More recently he has been active in the development of tools for analysis and reporting of clinical and safety data from
S-PLUS. Michael holds a Bachelors degree in Science from the University of Sydney, a Masters degree in Statistics from the University of New South Wales and a Ph.D. in Statistics from North Carolina State University.
Statistical analysis software
Download the web cast presentation.
Drug safety issues continue to drive headlines up and stock prices down. The past 12 months have seen failure of high profile drugs in late stage clinical trials (e.g. torcetrapib), withdrawal of drugs from market (e.g. Trayslol) and black-box warnings resulting from academic journal articles (e.g. Avandia).
The Insightful Clinical Graphics™ and Insightful Clinical Review™ Solutions are geared towards rapid and accurate analysis and reporting of safety data. They incorporate targeted statistical and graphical analyses for AE’s, labs and vitals; in alignment with FDA safety guidances e.g. the recent Oct 07 guidance on drug induced liver injury (DILI). The Solutions are designed to address sparse data and multiple endpoints issues with safety data.
Insightful Clinical Graphics provides a standard library of statistical graphics for safety data analysis, and enables simple sharing and re-purposing of graphical analyses in user-friendly interfaces and workflows. Built on the S-PLUS Enterprise Server, Insightful Clinical Graphics is scalable to large groups of statisticians, clinicians and programmers.
Statistically sound safety data analyses, and their resulting interactive graphical/tabular review and report outputs, have immense value for pharmaceutical companies, drug safety monitoring boards and regulatory agencies such as the FDA. We invite statisticians, clinicians and management across the industry to join this webcast, and this movement towards better safety data analysis, clinical review and study reporting.
Michael O'Connell runs the Life Science Solutions effort at Insightful. Michael has been working in the medical device, diagnostics, pharmaceutical and biotech arena for the past 15 years. His background and graduate work was in applied statistics and he has published more than 50 papers on statistical methods and life science applications including calibration, mixed models, and nonparametric regression. He has also written several statistical software packages and libraries. More recently he has been active in the development of tools for analysis and reporting of clinical and safety data from
S-PLUS. Michael holds a Bachelors degree in Science from the University of Sydney, a Masters degree in Statistics from the University of New South Wales and a Ph.D. in Statistics from North Carolina State University.
Statistical analysis software
Risk Management at the Confluence of Strategic & Compliance Imperatives – A Global View
Speaker: Venkat Mullur; Director of Product Marketing and Financial Services, Insightful Corporation
Download the web cast presentation.
Risk management is at the confluence of both regulatory and business imperatives. There exists today a perfect storm of regulatory recommendations that all tend to align minimum required capital levels to true economic risk from exposures. On the other hand, due to increased focus on enterprise risk management, banks and insurance companies are interested in arriving at portfolio loss distributions at a group level. The need for statistical models to quantify the effects of correlations, default risk, loss modeling, and other applications, has never been greater. Aggregating the underlying loss profiles and re-allocating the resulting risk capital back to the real sources of risk is of paramount importance if firms want to take a risk-based view of their asset base.
This presentation will examine the nature of the regulatory requirements, discuss adoption in various geographies, and finally, discuss Insightful Corporation’s enterprise risk aggregation solution and its applications to a broad variety of compliance and business projects.
Mr. Mullur has parleyed a deep knowledge of finance and risk management into a highly successful career in financial services consulting, banking, and product management. As a consultant with IBM (Global Business Services), he worked with some of the world’s largest banks, spanning seven countries. He has been an adviser to banks on issues surrounding Basel II, credit risk management, and the confluence of credit and market risk in the trading book. The combination of quantitative and packaged solutions knowledge he possesses has helped him gain pre-eminence at large financial services clients, and has helped him emerge as one of the top risk management professionals in the consulting world.
Mr. Mullur has contributed to significant intellectual capital growth at IBM, and has delivered internal training sessions, in the US and Hong Kong. He covered topics like Basel II, data challenges in credit risk management, and credit risk modeling techniques. He has lead consulting projects and advisory work top banks in the United States, Canada, Brazil, Hong Kong, and Thailand. He addressed general regulatory and compliance, credit risk management, and Basel II-related challenges. Mr. Mullur has an MBA (finance) from Northwestern’s Kellogg School of Management (MBA). He is currently attending law school, pursuing a JD degree, at Concord University in California.
Statistical analysis software
Download the web cast presentation.
Risk management is at the confluence of both regulatory and business imperatives. There exists today a perfect storm of regulatory recommendations that all tend to align minimum required capital levels to true economic risk from exposures. On the other hand, due to increased focus on enterprise risk management, banks and insurance companies are interested in arriving at portfolio loss distributions at a group level. The need for statistical models to quantify the effects of correlations, default risk, loss modeling, and other applications, has never been greater. Aggregating the underlying loss profiles and re-allocating the resulting risk capital back to the real sources of risk is of paramount importance if firms want to take a risk-based view of their asset base.
This presentation will examine the nature of the regulatory requirements, discuss adoption in various geographies, and finally, discuss Insightful Corporation’s enterprise risk aggregation solution and its applications to a broad variety of compliance and business projects.
Mr. Mullur has parleyed a deep knowledge of finance and risk management into a highly successful career in financial services consulting, banking, and product management. As a consultant with IBM (Global Business Services), he worked with some of the world’s largest banks, spanning seven countries. He has been an adviser to banks on issues surrounding Basel II, credit risk management, and the confluence of credit and market risk in the trading book. The combination of quantitative and packaged solutions knowledge he possesses has helped him gain pre-eminence at large financial services clients, and has helped him emerge as one of the top risk management professionals in the consulting world.
Mr. Mullur has contributed to significant intellectual capital growth at IBM, and has delivered internal training sessions, in the US and Hong Kong. He covered topics like Basel II, data challenges in credit risk management, and credit risk modeling techniques. He has lead consulting projects and advisory work top banks in the United States, Canada, Brazil, Hong Kong, and Thailand. He addressed general regulatory and compliance, credit risk management, and Basel II-related challenges. Mr. Mullur has an MBA (finance) from Northwestern’s Kellogg School of Management (MBA). He is currently attending law school, pursuing a JD degree, at Concord University in California.
Statistical analysis software
Using Differential Evolution for Optimization in Finance
Speaker: David Basterfield, Ph.D., Senior Financial Engineer, Insightful Corporation
Download the webcast presentation.
Differential evolution is a form of genetic or evolutionary algorithm, which is a class of algorithms that uses mechanisms inspired by biological evolution, such as reproduction, mutation and natural selection, to solve difficult optimization problems. Differential evolution was created in 1995 by Kenneth Price and Rainer Storn, and has since earned the reputation of being a very effective global optimizer. The algorithm has a record of reliable and robust performance, particularly in the fields of science and engineering. In this talk, we will look at an implementation of this algorithm in S-PLUS®, and investigate how it may be applied to problems in finance, such as portfolio optimization and model calibration.
Dr David Basterfield joined Insightful Corporation in Seattle as a Senior Financial Engineer, where he is involved with the on-going development of the S+FinMetrics® package in S-PLUS, and for developing financial solutions based on these tools. Dr Basterfield has a Ph.D. in Decision Theory, an MS in Computational Finance, and an MBA. He was the Director of the Computational Finance program at Oregon Health & Sciences University, where he taught from 1999 – 2003, and Associate Professor of Finance at Hillsdale College, from 2004 to 2007. His research interests include derivatives pricing, risk management and optimization methods. Before coming to the USA in 1998, Dr Basterfield worked as a systems architect for CRI, a consultancy company in Luxembourg, whose main client is the European Commission. In his 12 year association with the Commission, Dr Basterfield was involved in many major projects. In particular, he helped design and develop the foreign trade database, their largest information system.
Statistical analysis software
Download the webcast presentation.
Differential evolution is a form of genetic or evolutionary algorithm, which is a class of algorithms that uses mechanisms inspired by biological evolution, such as reproduction, mutation and natural selection, to solve difficult optimization problems. Differential evolution was created in 1995 by Kenneth Price and Rainer Storn, and has since earned the reputation of being a very effective global optimizer. The algorithm has a record of reliable and robust performance, particularly in the fields of science and engineering. In this talk, we will look at an implementation of this algorithm in S-PLUS®, and investigate how it may be applied to problems in finance, such as portfolio optimization and model calibration.
Dr David Basterfield joined Insightful Corporation in Seattle as a Senior Financial Engineer, where he is involved with the on-going development of the S+FinMetrics® package in S-PLUS, and for developing financial solutions based on these tools. Dr Basterfield has a Ph.D. in Decision Theory, an MS in Computational Finance, and an MBA. He was the Director of the Computational Finance program at Oregon Health & Sciences University, where he taught from 1999 – 2003, and Associate Professor of Finance at Hillsdale College, from 2004 to 2007. His research interests include derivatives pricing, risk management and optimization methods. Before coming to the USA in 1998, Dr Basterfield worked as a systems architect for CRI, a consultancy company in Luxembourg, whose main client is the European Commission. In his 12 year association with the Commission, Dr Basterfield was involved in many major projects. In particular, he helped design and develop the foreign trade database, their largest information system.
Statistical analysis software
Applying an Advanced Measurement Approach with Insightful Miner and S-PLUS
Speaker: Guido Maggio, Statistical Consultant, Insightful Corporation
Download the web cast presentation.
Basel II is promoting the implementation of the Advanced Measurement Approach to tackle Operational Risk among banks. An internal model that meets the requirements can generate higher precision and lower Value at Risk. Quantitative information from past losses as well as a qualitative source must be taken into account. The analysis of severities, through Extreme Value Theory is combined to the analysis of frequencies, and a convolution is used to derive the VaR. In this talk, an interesting method to determine the EVT threshold in an automated way will be shown. We will also present an implementation of AMA using Insightful tools: IMINER, S-PLUS, S+FinMetrics and EnvStats; we propose a stable application of EVT and a scenario analysis. In addition, you will also see a solution on how to derive a qualitative VaR from Managers' information that meets Basel II requirements.
Mr Guido Maggio joined Insightful AG in Zurich as a Statistical Consultant. He has an MSc in Social Statistics and a degree in Economic Statistics. His main topics of research have been Variance Estimation, accounting for missing data, and poverty dynamics. He has worked in Italy for MPS Bank in the Operational Risk Department, where he successfully developed an application of the AMA. He has also worked in London for a Mortgage Lender, Platform Home Loans, as well as in Credit Risk and for the University of Birkbeck where he was evaluating governmental projects.
Statistical analysis software
Download the web cast presentation.
Basel II is promoting the implementation of the Advanced Measurement Approach to tackle Operational Risk among banks. An internal model that meets the requirements can generate higher precision and lower Value at Risk. Quantitative information from past losses as well as a qualitative source must be taken into account. The analysis of severities, through Extreme Value Theory is combined to the analysis of frequencies, and a convolution is used to derive the VaR. In this talk, an interesting method to determine the EVT threshold in an automated way will be shown. We will also present an implementation of AMA using Insightful tools: IMINER, S-PLUS, S+FinMetrics and EnvStats; we propose a stable application of EVT and a scenario analysis. In addition, you will also see a solution on how to derive a qualitative VaR from Managers' information that meets Basel II requirements.
Mr Guido Maggio joined Insightful AG in Zurich as a Statistical Consultant. He has an MSc in Social Statistics and a degree in Economic Statistics. His main topics of research have been Variance Estimation, accounting for missing data, and poverty dynamics. He has worked in Italy for MPS Bank in the Operational Risk Department, where he successfully developed an application of the AMA. He has also worked in London for a Mortgage Lender, Platform Home Loans, as well as in Credit Risk and for the University of Birkbeck where he was evaluating governmental projects.
Statistical analysis software
Exposure-Response Based Trial Simulations to Assess Adaptive Designs in Phase II Clinical Trials
Speaker: Simon Zhou, Ph.D., Director of Clinical Pharmacology, Wyeth Research
Download the webcast presentation.
Adaptive design enables clinical trials to adapt to evolving information. It is more powerful and cost effective than traditional design based on formal hypothesis in defining dose response curve and identifying optimal dose in exploratory drug development aiming to learn about pharmacology. When multiple adaptive designs are plausible, clinical trial simulation is a powerful tool to evaluate and differentiate potential outcome of individual adaptive design. It can model complicated dynamic process to evaluate key assumptions in trial design and their impacts on trial outcome. Various types of clinical trial simulations may be conducted to visualize the dynamic trial process from patient recruitment, drug distribution, treatment administration to biomarker, PK/PD and clinical responses.
Integrated with cumulative knowledge of PK/PD and biomarkers, Exposure Response (ER) based trial simulation could assess the validity and robustness of efficacy and safety findings, anticipate problems, project trial outcome. In this presentation, advantages of exposure-response based trial simulations in dosing range phase II studies will be discussed via a case study. Incorporating prior exposure variability and PK/PD information, trial simulations were conducted to (1) evaluate potential adaptive designs via traditional statistical and exposure-response analysis; (2) determine sample size and associated power in demonstrating either utility or futility; (3) define decision criteria based on multiple endpoints; (4) evaluate the robustness of efficacy and safety signals at various stages of study.
Simon Zhou holds Bachelor and Master degrees in Chemistry, a Ph.D. in Pharmaceutics and a Graduate Certificate on Modeling of Complex System from the University of Michigan. Dr. Zhou is currently a director in the department of clinical pharmacology at Wyeth Research in Collegeville, PA. Prior to his current position, he has worked in preclinical and clinical drug development functions addressing biopharmaceutical and trial design issues at Pfizer and Bristol-Myers Squibb. He is experienced in kinetic/dynamic and statistical modeling and simulation to integrate and mine voluminous and complex data from clinical trials. He has published manuscripts in biopharmaceutics, drug delivery and pharmacokinetic and pharmacodynamic modeling.
Statistical analysis software
Download the webcast presentation.
Adaptive design enables clinical trials to adapt to evolving information. It is more powerful and cost effective than traditional design based on formal hypothesis in defining dose response curve and identifying optimal dose in exploratory drug development aiming to learn about pharmacology. When multiple adaptive designs are plausible, clinical trial simulation is a powerful tool to evaluate and differentiate potential outcome of individual adaptive design. It can model complicated dynamic process to evaluate key assumptions in trial design and their impacts on trial outcome. Various types of clinical trial simulations may be conducted to visualize the dynamic trial process from patient recruitment, drug distribution, treatment administration to biomarker, PK/PD and clinical responses.
Integrated with cumulative knowledge of PK/PD and biomarkers, Exposure Response (ER) based trial simulation could assess the validity and robustness of efficacy and safety findings, anticipate problems, project trial outcome. In this presentation, advantages of exposure-response based trial simulations in dosing range phase II studies will be discussed via a case study. Incorporating prior exposure variability and PK/PD information, trial simulations were conducted to (1) evaluate potential adaptive designs via traditional statistical and exposure-response analysis; (2) determine sample size and associated power in demonstrating either utility or futility; (3) define decision criteria based on multiple endpoints; (4) evaluate the robustness of efficacy and safety signals at various stages of study.
Simon Zhou holds Bachelor and Master degrees in Chemistry, a Ph.D. in Pharmaceutics and a Graduate Certificate on Modeling of Complex System from the University of Michigan. Dr. Zhou is currently a director in the department of clinical pharmacology at Wyeth Research in Collegeville, PA. Prior to his current position, he has worked in preclinical and clinical drug development functions addressing biopharmaceutical and trial design issues at Pfizer and Bristol-Myers Squibb. He is experienced in kinetic/dynamic and statistical modeling and simulation to integrate and mine voluminous and complex data from clinical trials. He has published manuscripts in biopharmaceutics, drug delivery and pharmacokinetic and pharmacodynamic modeling.
Statistical analysis software
S+ Seminar: S+ for Financial data Analysis
Event
S-PLUS for Financial Data Analysis
Speaker
David Basterfield, Senior Financial Engineer, Insightful Corporation
Insightful has been serving the world's largest financial services firms such as, Zurich Financial Services, Barclays Global Investors, Bank of America and UBS, for 20 years. Our S-PLUS product family, econometric modules and professional services group provide companies in the financial industry the knowledge to act on their quantitative trading strategies, portfolio optimization methods and risk management requirements.
Agenda
08:30
Registration and Continental Breakfast
09:00
Welcome and Introduction
09:15
Portfolio Optimization with NUOPT
Presented by David Basterfield, Senior Financial Engineer, Insightful Corporation
Insightful will show how S-PLUS with NuOPT™, its optimization package, can be used for quantifying, validating and backtesting portfolio construction and rebalancing strategies that optimize risk-adjusted performance.
10:00
Quantitative Financial Modeling
Presented by David Basterfield, Senior Financial Engineer, Insightful Corporation
Insightful will present an overview of S+FinMetrics 3.0, the latest version of their market-leading time-series analysis and financial econometric modeling tool. This presentation will focus on advanced time-series analysis with GARCH and state-space models, as well as newly introduced derivatives pricing applications.
10:45
Coffee Break
11:00
Value at Risk Modeling and Backtesting with S-PLUS
Presented by David Basterfield, Senior Financial Engineer, Insightful Corporation
Value-at-Risk (VaR) has become a de-facto standard for measuring financial market risk. This presentation will give a brief overview of Value-at-Risk and then walk through the programming details of specifying, estimating, and backtesting different VaR models using S-PLUS and S+FinMetrics.
11:30
Risk Aggregation
11:45
Q & A
12:00
Close
Biography: Dr. David Basterfield
Dr. David Basterfield has recently joined Insightful Corporation in Seattle as a Senior Financial Engineer, where he is involved with the on-going development of the S+Finmetrics package in S-Plus, and for developing financial solutions based on these tools. Dr Basterfield has a Ph. D. in Decision Theory, an MS in Computational Finance and an MBA. He was the Director of the Computational Finance program at Oregon Health & Sciences University, where he taught from 1999 – 2003, and Associate Professor of Finance at Hillsdale College, from 2004 to 2007. His research interests include derivatives pricing, risk management and optimization methods. Before coming to the USA in 1998, Dr Basterfield worked as a systems architect for CRI, a consultancy company in Luxembourg, whose main client is the European Commission. In his 18 year association with the Commission, Dr Basterfield was involved in many major projects. In particular, he helped design and develop the foreign trade database, their largest information system.
Statistical analysis software
S-PLUS for Financial Data Analysis
Speaker
David Basterfield, Senior Financial Engineer, Insightful Corporation
Insightful has been serving the world's largest financial services firms such as, Zurich Financial Services, Barclays Global Investors, Bank of America and UBS, for 20 years. Our S-PLUS product family, econometric modules and professional services group provide companies in the financial industry the knowledge to act on their quantitative trading strategies, portfolio optimization methods and risk management requirements.
Agenda
08:30
Registration and Continental Breakfast
09:00
Welcome and Introduction
09:15
Portfolio Optimization with NUOPT
Presented by David Basterfield, Senior Financial Engineer, Insightful Corporation
Insightful will show how S-PLUS with NuOPT™, its optimization package, can be used for quantifying, validating and backtesting portfolio construction and rebalancing strategies that optimize risk-adjusted performance.
10:00
Quantitative Financial Modeling
Presented by David Basterfield, Senior Financial Engineer, Insightful Corporation
Insightful will present an overview of S+FinMetrics 3.0, the latest version of their market-leading time-series analysis and financial econometric modeling tool. This presentation will focus on advanced time-series analysis with GARCH and state-space models, as well as newly introduced derivatives pricing applications.
10:45
Coffee Break
11:00
Value at Risk Modeling and Backtesting with S-PLUS
Presented by David Basterfield, Senior Financial Engineer, Insightful Corporation
Value-at-Risk (VaR) has become a de-facto standard for measuring financial market risk. This presentation will give a brief overview of Value-at-Risk and then walk through the programming details of specifying, estimating, and backtesting different VaR models using S-PLUS and S+FinMetrics.
11:30
Risk Aggregation
11:45
Q & A
12:00
Close
Biography: Dr. David Basterfield
Dr. David Basterfield has recently joined Insightful Corporation in Seattle as a Senior Financial Engineer, where he is involved with the on-going development of the S+Finmetrics package in S-Plus, and for developing financial solutions based on these tools. Dr Basterfield has a Ph. D. in Decision Theory, an MS in Computational Finance and an MBA. He was the Director of the Computational Finance program at Oregon Health & Sciences University, where he taught from 1999 – 2003, and Associate Professor of Finance at Hillsdale College, from 2004 to 2007. His research interests include derivatives pricing, risk management and optimization methods. Before coming to the USA in 1998, Dr Basterfield worked as a systems architect for CRI, a consultancy company in Luxembourg, whose main client is the European Commission. In his 18 year association with the Commission, Dr Basterfield was involved in many major projects. In particular, he helped design and develop the foreign trade database, their largest information system.
Statistical analysis software
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