Search by company

Revenue rises prompt global expansion

Edited by the Engineeringtalk editorial team Feb 23, 2004

Gross revenues at Vistagy grew 45% in 2003 over the previous year.

Gross revenues at Vistagy grew 45% in 2003 over the previous year.

The 2003 results came from new product sales to more than 40 companies, including a US $1.95 million purchase by Northrop Grumman, and growing sales of Vistagy's newest product EnCapta.

Vistagy's record year follows revenue increases of 35% in 2001 and 16% in 2002.

The company expects to grow vigorously again in 2004.

It will double the size of its Waltham, Massachusetts, headquarters and add regional offices in Germany and Detroit, Michigan.

Vistagy's flagship FiberSIM software is the world's leading software for design and manufacture of composite products.

Users of FiberSIM have included a 2003 America's Cup syndicate, designers of Formula One and LeMans racing cars, and makers of military and commercial aircraft.

Vistagy's newest software, EnCapta, enables designers to capture and communicate difficult-to-organise engineering information, no matter how specialised, and make it more accessible to users throughout the product development cycle to hasten decision making.

Aerospace and automotive industry leaders such as Boeing, BAE Systems, EADS, Lockheed Martin, General Motors, and Porsche are among Vistagy's customers.

The company has over 150 customers worldwide.

Despite the challenging business environment that the aviation and automotive sectors have faced since early 2002, these two markets fuelled the rise in Vistagy revenue.

"Many companies in the automotive and aerospace fields are willing to explore innovative design and manufacturing processes in order to achieve strategic time and cost savings", says Steve Luby, President and CEO of Vistagy.

"More than ever, our customers are committed to buying software tools that will pay for themselves within six months or less".