International success boosts revenues
An
IronCAD product story
Edited by the Engineeringtalk editorial team
Jun 5, 2003
IronCAD reports increased sales and service revenue for the first quarter of 2003, with 8% growth worldwide compared with the same period in 2002.
IronCAD reports increased sales and service revenue for the first quarter of 2003, with 8% growth worldwide compared with the same period in 2002.
The weakened economic situation in the USA was offset by a strong showing internationally where 40% growth was recorded and especially in Asia that experienced a 50% year-to-year growth.
A key contributing factor to the first-quarter growth was the acceptance of the newly released IronCAD version 6.0.
IronCAD V6 not only contributed to the closing of new sales but also brought about a 59% increase in support revenue, as many older customers seeing the value of 6.0 renewed their support contracts.
"As IronCAD looks forward we are especially excited about the acceptance of IronCAD technology in Asia.
The groundwork activities conducted there over the last couple of years are now starting to bear fruit.
The single seat deals are now turning into ten or more seat opportunities with expectations of even larger deals down the road", states Dr Tao-Yang Han, President of IronCAD.
"IronCAD's ability to grow in spite of the current economic climate can directly be attributed to its innovative design approach.
IronCAD brings a level of freedom to the design process unavailable in today's parametric, constraint based systems", says Shaun Murphy, IronCAD's Vice President of Marketing.
He continues: "Users worldwide appreciate the ability to make changes without having to worry about the parent child history problems common in today's systems.
They appreciate the power of IronCAD's drag and drop in context assembly design approach.
They enjoy having the fastest and easiest way to 3D".
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