After 2009 New Year celebrations and vacations, Arcadia, Inc. returned to work and summed up the achievements of 2008 year. The results are impressive in spite of the fact that for many companies the year brought troubles and anxiety. In 2008 Arcadia increased its turnover and staff, continued co-operation with key long-term customers and won a tender for a new long-term project.
As it was previously expected, in 2008 Arcadia's turnover grew by 30 % compared to 2007 and amounted to 132 mln RUR ($ 5.3 mln). The geography of activities did not change significantly: Arcadia remains focused on Scandinavian and North American markets. The shares of main countries in the total income in 2008 were the following: Finland — 29,1 % (in 2007 this country had a 32 % share), Sweden — 27,3 % (in 2007 — 34 %), the USA — 17,7 % (15 %), Norway — 13,5 % (15 %).
Arcadia's staff grew 160 in 2008 as the company continued to hire both young talents and experienced IT-specialists.
In 2008 Arcadia's team worked on projects from 18 clients, of which 10 were long-term customers working with Arcadia for 1-15 years; 7 are return customers (that means that they've already used Arcadia's services some time ago); besides, a pilot project for a new client was successfully carried out. This is yet another proof of high quality of services and professionalism of Arcadia's team.
The major company customers, who have been co-operating with Arcadia for many years and contributing a significant share of income, prolonged the contracts for the coming year. Among them are F-Secure (Finland, information security), Aditro Group (Northern Europe, HR and accounting business process outsourcing), it's learning (Norway, e-learning), SoftVelocity (the USA, developer tools) and others. Besides, in autumn of 2008 Arcadia, Inc. won a tender for a 4-year project in the area of educational services, which was conducted by another long-standing customer, UNI-C (Denmark, education and research). To complete the successes, at the end of 2008 Arcadia, Inc. signed a new long term contract with Johnson & Johnson Pharmaceutical Research and Development, L.L.C. (USA, development of innovative health care products) — part of Johnson & Johnson family of companies.
Thus Arcadia, Inc. looks into the future with confidence and in 2009 is going to continue gaining new customers, high-qualified employees, experience and knowledge.