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sophistication of customer's outsourcing strategies drives 64% revenue
growth Ottawa, ON, February 21, 2007 - Macadamian Technologies, Canada's fastest growing software R&D outsourcing firm, today announced strong revenue growth for its first quarter of fiscal year 2007, ended December 31, 2006. Revenue for the first quarter was $2.39 million, compared with $1.46 million for the same period last fiscal year, an increase of 64 percent. Seven new customers, as well as strong repeat business, drove the growth. Macadamian's primary line of business is providing product development outsourcing and product design services to software and telecommunications companies. "Our customers, and the technology industry in general, are becoming more sophisticated about their outsourcing strategy," said Frederic Boulanger, President and CEO of Macadamian. "They are seeing the risks of single-sourcing, and are now thinking beyond India. Most of our customers have adopted a multi-shore outsourcing strategy, including Canada and Eastern Europe, where Macadamian has development centers. They are choosing Macadamian for release 1.0 product development - projects that require partners who can ramp-up quickly, assume risk, and contribute to the design and innovation of their products." "I'm very pleased with our performance in the first quarter. We enter this quarter with a strong pipeline and successful products. Our high level of repeat-business is a testament to the hard work of the entire Macadamian team," explained Mr. Boulanger. About Macadamian Macadamian is a software product development outsourcing partner for North American companies developing new products and improving existing products. Macadamian helps software development managers attain the mix of skill, speed, quality and cost they need to successfully deliver on their commitments. Founded in 1997, Macadamian provides a complete range of software development and related services to clients throughout North America, including Ottawa, Toronto , Boston , Dallas and San Jose . For further information, please visit the Web site at www.macadamian.com or email software@macadamian.com. For Media and Analyst inquiries, please contact: Shelley Mullins Media/Analyst Relations Macadamian Technologies 613-866-8803 shelley.mullins@macadamian.com
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