Fourth Quarter Recurring Revenue grew by over 22%
May 7, 2020
11:23 AM Eastern Daylight Time
TORONTO—(BUSINESS WIRE)—Eyelit Inc. announced highest revenue for full year for 2019, with nearly 10% top line growth led by software licenses and Support (recurring revenue). Eyelit also achieved significant global expansion during the year.
Key milestones for the year were:
- A high-volume European customer went into production at a highly automated 24x7, 200 mm semiconductor fab. The Eyelit system is executing over a million transactions per day and has been running for over one year. The project migrated their Legacy MES to Eyelit MES and deployed other Eyelit modules including: Asset Management, Statistical Process Control (SPC), and FactoryConnect—a module for high-volume automated data collection and integration. This data collection is automatically fed to Eyelit SPC, where over 75,000 SPC charts have been deployed. Eyelit’s FactoryConnect connects Eyelit MES with their existing factory automation including RFID, APC, as well as their systems for Defect Analysis, Scheduling, and SAP ERP. Also deployed was Eyelit’s QMS module for ECNs, extensive change management, OCAP, and other non-conformance management processes.
- FactoryConnect was also selected at three high-volume 200 mm wafer fabs using PROMIS MES. FactoryConnect will continue to support legacy application integration while enabling new Eyelit modules such as Recipe Management (RMS) and QMS. Eyelit QMS also supports the management of non-conformance process and routing approval (change management) with PROMIS MES.
- In the United States a Fortune 500 Aerospace and Defense leader selected Eyelit MES for a second site, replacing PROMIS MES, after WorkStream MES was successfully replaced with Eyelit MES at their first site.
- A Fortune 100 company is deploying Eyelit MES at multiple sites, both in Europe and the United States. Originally purchased in 2019, the customer has now purchased Eyelit software for a third site.
- A successful Factory Automation project proof of concept (POC) in Japan enabled direct tool communication via SECS/GEM using Eyelit’s EquipmentConnect module. The information is passed to PROMIS MES through the Eyelit FactoryConnect module. Subsequent rollouts to additional production tools are underway.
Financial highlights for 2019:
- Over 10% growth in recurring revenue
- Over 10% growth in software revenue
“We are happy with our 2019 results. Eyelit’s software is now installed in 20 countries on six continents. Eyelit continues to add some of the largest global companies as customers”, stated Dan Estrada, Vice-President of Sales and Marketing. “In 2019, eight out of our top ten customers averaged over 53 billion dollars in annual revenue. With our proven integration history, Eyelit is benefiting from IoT and industry 4.0 initiatives that are driving Smart Factory programs."
Covid-19 Update: “While Eyelit is seeing some revenue impact, mostly to services revenue due to the travel restrictions, we expect overall company revenue growth and profit for Q1 due primarily to an over 25% increase in recurring revenue”, stated Dan Estrada. “This revenue growth is driven by our marquee customers’ continued investments in Eyelit and the mission critical nature of the solution. As previously stated, we are not planning any salary cuts or staff reductions.”
About Eyelit Inc. (www.eyelit.com)
Eyelit Inc. is the leader in Manufacturing Execution and Quality Management (MES and QMS) solutions for visibility, control, and coordination of manufacturing operations for the aerospace & defense, electronics, life sciences, medical device, semiconductor, and solar industries. Eyelit uniquely delivers a broad set of manufacturing solutions, including Asset Management (Semi E10, SEMI PV2-0709), Dispatching, Factory Integration (Automation), Manufacturing Execution (MES/MOM), Recipe Management, Supply Chain Management, Quality Management (CAPA/OCAP/SPC/APC/RMA), and Business Process Management, that enable its customers to rapidly and cost-effectively optimize production and company processes.
With exceptional customer service, Eyelit has time and again proven that superior, innovative technology can maximize efficiency and value. More than 50 leading companies, including austriamicrosystems, CEA-Leti, eMagin, Innovative Micro Technology (IMT), LFoundry, Murata Electronics Oy, Northrop Grumman Corporation, NXP Semiconductors, PerkinElmer, Raytheon Company, Skyworks Solutions, TowerJazz, and multiple global 50 companies rely on Eyelit as a trusted software partner. Follow Eyelit on LinkedIn and Twitter.
Tel: +1 905 502 6184