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Terra Technology: Terra Technology Reports 58 Percent Revenue Growth in 2009, Signs Multiple Fortune Global 500 Clients

^{Published on 2009-09-16 06:47:06 - Market Wire}
 

NORWALK, CT--(Marketwire - September 16, 2009) - Terra Technology ([ www.terratechnology.com ]), the leader in demand sensing and inventory optimization for consumer products companies, today announced record results for the first half of 2009. The company has almost doubled its growth rate with a 58 percent increase in revenue from the previous year. In addition, Terra Technology (Terra) announced two new Fortune Global 500 clients: Unilever (NYSE: [ UL ]) and Kraft Foods (NYSE: [ KFT ]), as well as the company's first multi-enterprise demand sensing client, Procter & Gamble (NYSE: [ PG ]). With three of the five largest consumer packaged goods companies as clients, Terra has further cemented its leadership position.

Terra's Demand Sensing solution applies pattern recognition algorithms to downstream data to create an accurate prediction of demand. This typically cuts forecast error by 40 percent or more. More accurate forecasts reduce inventory, improve service and lower costs.

"Our continued growth reflects the fact that Terra's solutions prove their value to our customers, especially as they face increased demand volatility," said Robert F. Byrne, president and CEO of Terra Technology. "We are thrilled to be used every day by some of the largest companies in the world."

Terra has also received several instances of market recognition this year. In July, Terra was named one of SupplyChainBrain's 100 Great Supply Chain Partners for the fourth consecutive year. The company was also included in the 2009 Supply & Demand Chain Executive 100 list for the fourth time and was an American Business Awards finalist in two categories: Best Overall Company and Most Innovative Company. Additionally, in May, Terra announced continued global expansion with the opening of an office in the United Kingdom.

About Terra Technology

Terra Technology is the leading provider of demand sensing and inventory optimization software for consumer products companies. Terra's solutions use downstream data like POS to improve supply chain performance, reducing forecast error up to 50 percent and inventory up to 20 percent. More accurate forecasts save money, lower inventory, improve customer service and decrease waste. Three of the five largest consumer packaged goods companies, and some of the world's best-known brands, rely on Terra, including Campbell Soup, Kraft Foods, Procter & Gamble and Unilever. For more information, please visit [ www.terratechnology.com ] or call 203-847-4007 x111.