Software firm posts record quarterly earnings
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Geomagic product story
Edited by the Engineeringtalk editorial team
Mar 6, 2006
Software and services firm reports highest quarterly revenues in its history following market adoption of its digital shape sampling and processing software in design and manufacturing sectors.
Geomagic, a software and services firm in Research Triangle Park, North Carolina, USA, has reported its highest quarterly revenues in the company's history.
This record-breaking profit is the result of positive market adoption of its digital shape sampling and processing (DSSP) software among design and manufacturing sectors.
In the second quarter of FY2006 ending 31st December 2005, Geomagic set sales records with licence revenues increasing 43% over the same quarter in FY2005.
Fiscal year-to-date revenues increased 38% over the previous year.
The strong performance was achieved worldwide, with Asia, Europe and Americas markets performing at record levels.
"Record earnings show that we have succeeded in our worldwide growth strategy, and that our successful product enhancements are delivering significant return on investment for our customers," said Ping Fu, Geomagic President and CEO.
"Enabling companies to transform and streamline their design, engineering, inspection and manufacturing processes has driven our growth".
"Customised products can be produced quickly and cost-effectively, offering a competitive edge that has the potential to bring high-quality manufacturing back to industrialised nations".
New versions of Geomagic Qualify (computer-aided inspection software) and Geomagic Studio (reverse-engineering software) brought Geomagic increased momentum in core markets such as automotive, aerospace, turbine, medical and dental.
The largest growth - in triple digits - has been in the sales of its Qualify software, with sales of its Studio product also exceeding prior earnings.
"During the past year, word-of-mouth has spread, as manufacturers see the real value being generated within their own organisations or by their partners, competitors and counterparts in other industries," said Jim Johnson, VP of Sales for Geomagic.
"Multi-seat orders are becoming the norm as Geomagic products are integrated into mainstream production processes".
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