Tampa, FL – March 6, 2006 – Pilgrim Software, Inc., the leading provider of Enterprise Compliance and Quality Management Solutions, today announced it had a company record-setting fiscal year in 2005.  Pilgrim’s overall revenue increased by approximately 30 percent over the previous year.  The internationally recognized company also reported a triple-digit increase in its EBITDA over 2004.  Contributing to this growth was the roll-out of Pilgrim solutions to more than six times the number of users in 2005 than in 2004.  Pilgrim also increased its global market presence last year with approximately 82 percent of new customers deploying its solutions in sites worldwide.

“Pilgrim’s momentum significantly increased in 2005 with the addition of an unprecedented number of new corporate and growth-oriented customers, including numerous Fortune 500 companies and internationally regarded Life Sciences organizations.¹ Additionally, many of our existing customers expanded use of our solutions, confirming that Pilgrim provides the most comprehensive, cost-effective and easily configurable solutions on the market,” said Prashanth Rajendran, COO of Pilgrim Software.

Pilgrim’s industry-leading Enterprise Compliance and Quality Management solutions are fully Web-based, and facilitate managing compliance and quality processes to meet regulatory requirements, increase efficiency and reduce costs. Pilgrim’s solutions fully support enterprises with global operations through scalability and flexibility, multi-language capabilities and numerous cultural-sensitive options.

“Our continued growth clearly shows that we are a recognized leader not only because of the vast number of users worldwide, but also because our out-of-the-box solution is tried and proven in accordance with industry best practices,” said Ami Utji, CEO of Pilgrim Software. 

“Analysts at AMR Research² predict that this year companies will spend $27.3 billion to support necessary programs, with 75 percent of those companies aiming to leverage compliance processes to improve business performance,” said Utji. “Since Pilgrim’s expertise lies in helping companies turn compliance processes into strategic business advantages, we foresee many new customers partnering with Pilgrim in 2006 to ensure regulatory compliance while reducing costs and optimizing business processes.”

About Pilgrim Software, Inc.   
Pilgrim Software, Inc. is the leading provider of Enterprise Compliance and Quality Management solutions for global organizations. Pilgrim helps organizations manage industry and regulatory compliance, reduce manufacturing costs and improve customer satisfaction. For more information, visit Pilgrim Software’s Web site at www.pilgrimsoftware.com.

1. Click here to view Pilgrim Software’s customer announcements: Press Releases

2. Spending in an Age of Compliance by John Hagerty and Fenella Sirkisoon. Published on February 21, 2006 on AMR Research.