With 30 new customer engagements throughout the year, including the recent addition of Ford Motor Company, New York City Department of Citywide Administrative Services, U.S. Army Warrenton Training Center, the University of Maine System and the State of Louisiana to its client roster, VFA gained significant momentum in all its target markets. In 2003, VFA also continued to cement its leadership in the government market, working with six of the 10 largest U.S. federal agency property holders. The Company was awarded significant new business in both the federal and state government sectors, including the Virginia Department of Corrections, U.S. Navy Bureau of Medicine & Surgery, and a provincial Ministry of Health in Canada.

“No other company in the facility management industry offers the breadth and quality of services and technological capabilities that we provide," said Jerry Kokos, president and CEO, VFA. “We were awarded multi-million dollar contracts from prestigious government organizations, and demand for our solutions is increasing rapidly in the corporate market as well. CEOs and financial officers increasingly understand that smart facility investments help drive business continuity. In the second half of 2003, VFA reached profitability as sales grew significantly over the previous year, and we expect increased demand and continued momentum as we proceed into 2004."

VFA’s software and services empower organizations across all industries to achieve their mission by optimizing investments in their buildings and infrastructure. With the launches of AssetFusion in June and VFA.facility 6.0 in October, VFA extended its large technology lead over its competitors in the capital planning and facility management market. Deployed predominantly via a hosted software model, VFA.facility is now used by hundreds of organizations across North America, from British Columbia’s City of Richmond, to Georgetown University, to the U.S. General Services Administration.

“VFA’s software has given us an instant edge in our budget planning processes," said David Naysmith, manager, planning and construction, City of Richmond, British Columbia. “Using the analysis capabilities in VFA.facility 6.0, we are better able to evaluate alternatives to resolving deferred maintenance projects, demonstrate the consequences of each action, and support our budget requests. We received an 80 percent increase in funding as a result."

Additional Highlights

• New partner relationships secured this past year include UNICCO Service Company, one of North America’s largest facilities outsourcing companies with more than $650 million in annual sales, and Honeywell’s energy services business division in Canada.
• Among its accolades in 2003, VFA was awarded the Healthcare Symposium Distinction Award for its contributions in helping the U.S. Army Health System develop a recapitalization plan for the worldwide, $7.8 billion U.S. Army health facilities inventory. The Company was also ranked by the Boston Business Journal as the area’s 22nd fastest growing private company for 2003.
• The Company established its first international office in Vancouver, British Columbia, in response to the increased demand for its solutions within the Canadian facility management and capital planning industry.
• VFA continued to augment its management team, broadening the depth of expertise with the appointments of Joan Lockhart as vice president of marketing and D.J. Long as vice president of business development.