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Eyelit Inc. Achieves 2x Revenue Growth in 3rd Quarter, 70% Growth and Profits for First Nine Months of 2008

Eyelit 2009 User Conference to Be Held May 13, 14, and 15 at the Renaissance Toronto Hotel

November 13, 2008, 09:58 AM Pacific Standard Time
TORONTO—(BUSINESS WIRE)—Eyelit Inc., a manufacturing software provider for visibility, control, and coordination of manufacturing operations for the aerospace & defense, discrete electronics, semiconductor, and photovoltaic (solar) panel industries, announced today record revenues for the first nine months of 2008, achieving a 2x increase in 3rd quarter revenue—the highest 3rd quarter revenue recorded in the company's history.

Highlights for the first nine months of 2008 include:

  • Increased Revenue: Eyelit posted record revenues for the first three quarters of 2008 with a 70% increase in total revenue over the previous year. The company more than doubled its total revenue for this quarter from 2007. Software license revenue increased 200%, Support revenue increased 65%, and Services revenue increased 50%.


  • New Services Revenue: Eyelit continues to expand its services offering since recently signing a large material handling/inventory management project with one of its photovoltaic (PV) solar customers. This new project takes advantage of Eyelit's manufacturing integration hub, FactoryConnect, to integrate operators, tools, conveyers, and material handling systems.


  • Geographic Expansion: Recently signed Eyelit partner Systema GmbH, which is located in Germany, is already adding new customers in its own country. Eyelit's software is now live at additional sites in Latin America. Eyelit has begun its expansion into Asia, having hired Eyelit personnel in Shanghai, China. Additional Asia-based partnerships will be announced soon.


  • Future growth: Eyelit expects to achieve at least 50% growth in 2008 over 2007, as well as additional growth in 2009 based on its current forecast. Eyelit expects to add a record number of new customers in 2008 and gain significant market share in the fast-growing solar manufacturing sector. This is being done by working with its customers, both thin-film and silicon-based Photovoltaic (PV) solar manufacturers, in 2008.

Eyelit has moved up the dates of its 2009 Eyelit User Conference, based on customer requests for more frequent meetings, for which feedback was received during this year's Eyelit User Conference in August. The 2009 event will be held May 13, 14 and 15 at the Renaissance Toronto Hotel, which is located at the Rogers Centre.

"Again we exceeded our revenue targets in the third quarter and are on track for another great year. We've achieved eight consecutive quarters of significant revenue growth over the previous year's quarter. While solar continues to drive much of Eyelit's growth, so far this year we've also added customers in aerospace and defense, clean-tech, and both front-end and back-end semiconductor. We are planning for continued industry and geographic expansion to maintain our current growth," said Dan Estrada, Vice-President of Sales and Business Development.

About Eyelit Inc. (www.eyelit.com)

Eyelit is the leader in Manufacturing Execution and Business Process Management (MES and BPM) solutions for visibility, control, and coordination of manufacturing operations for the aerospace & defense, electronics, semiconductor, and solar panel industries. Eyelit uniquely delivers a broad set of manufacturing solutions, including Asset Management, Factory Integration (Automation), Lean Manufacturing, Manufacturing Execution (MES), Supply Chain Execution, Quality Management (CAPA/OCAP, SPC, APC), and Business Process Management, that enable our customers to rapidly and cost-effectively optimize production and company processes. With exceptional customer service, Eyelit has time and again proven superior innovative technology can deliver quicker time to value. More than 40 leading companies, including A123Systems, Analog Devices, FLIR Systems, Freescale Semiconductor, HelioVolt, Innovalight, and VTI Technologies, rely on Eyelit as a trusted software partner.

Contact
Eyelit Inc.
Amy DeHeer
Tel: +1 905 502 6184
adeheer@eyelit.com


 
 
"Eyelit is one of a new breed of production management suppliers that "gets it" when it comes to plant software. This is what manufacturers need in order to enhance enterprise performance in real time."