Revenue has increased by an impressive 30% and there have been a total of 20 new sales, including 12 completely new partners. Of particular interest is the success achieved in new geographic markets, including China, Korea, Turkey and Russia. Establishing a presence in these markets is expected to lead to further growth in future years.
It has been a record year for custom development projects with five major development projects taking place during 2011. The synergies between these development projects and the core product development allow these projects to be delivered in a highly efficient, cost effective manner, while also allowing the developments to be leveraged into improving the core products.
New products have been launched which allow the ModuleWorks technology to be applied to Dental CAD/CAM and Woodwork CAD/CAM. These industries are able to benefit from the 200+ man-years of development effort that have already been invested in the core products and so deliver very impressive results in a short time.
The single most successful product during 2011 has been the ModuleWorks Simulation Component, both being adopted by many existing partners and attracting new partners. Already more than 50% of ModuleWorks partners are using ModuleWorks Simulation, and this is expected to increase during 2012.
The ModuleWorks Simulation Component has also been popular with CNC companies looking for Simulation and Verification on the control. A number of collaborations are in progress with the aim to making this dream a reality.
Yavuz Murtezaoglu, Managing Director for ModuleWorks, adds “We are delighted with the successes of 2011 and have invested heavily to achieve further growth during the coming years. We are fully committed to developing high quality CAD/CAM technology and making it available to a large number of end users at an affordable price. Given the high cost of development, we are convinced that providing component software and working closely with our partners is the most effective way to achieve this. Finally, I would like to wish continued success to all of our partners during 2012.”
That it for this week. Our best wishes for 2012 from everyone on the ModuleWorks team.
The ModuleWorks Blogger