Record revenues for STME
Regional storage reseller and integrator STME is celebrating record revenues for the first quarter of 2006. STME sales almost quintupled year-on-year to hit in excess of US$12m.
Regional storage reseller and integrator STME is celebrating record revenues for the first quarter of 2006. STME sales almost quintupled year-on-year to hit in excess of US$12m for the first three months of the year.
“This is the best ever quarterly performance by STME and has in fact surpassed our own target for the period. For STME, the first quarter was characterised by significant new wins and the strengthening of existing alliances, which besides driving business growth have helped the company boost its brand image,” explained Jocelyn Al Adwani, deputy CEO at STME. “The outstanding growth is proof that the investments STME made in finance, sales staff and marketing have yielded rich dividends.”
“Beyond the surge in revenues, the quarter has been an exceptional one for STME on several other counts,” Al Adwani added. “We became the first company to have gained the advanced technology partner status for network hosted storage status and were honoured with the Cisco storage partner of the year award at the recent Cisco partner summit in Dubai.”
During the first quarter of 2006, STME signed large deals with leading organisations in multiple verticals including manufacturing, media, investment, oil and gas, telecommunications, logistics and Islamic banking, winning projects in Saudi Arabia, Egypt, Bahrain, Kuwait, Qatar and the UAE. STME counts Saudi Aramco as one of its clients and was expected to close a significant deal with the oil giant during the first quarter, which may have contributed to the sparkling sales figure.
“STME’s robust first quarter growth would not have been possible but for the single-minded commitment of our employees. We pride ourselves on our dedicated workforce and the impressive revenue growth is a tribute to the individual and collective efforts of each of our staff members,” Al Adwani added.
“This remarkable performance would naturally raise expectations of similarly high growth in the coming quarters and we are resolved to step up efforts to try and carry on this growth momentum into the future,” she concluded.
STME’s stellar results for the first quarter also throw the spotlight on storage giant EMC’s recent decision to terminate its links with the integrator. EMC claims that its volume of business in the region will not be hit by the move.
The vendor has lined up an independent services provider for the region — widely tipped to be Khatib & Alami — to fill the void left by the dissolution of the relationship with STME. Channel sources indicate that employees from Khatib & Alami have attended recent EMC training events.