CIMdata PLM Industry Summary Online Archive
21 January 2007
Financial News
Mystic Management Systems, Inc. Reports Significant 2006 Growth Results; Delivers Strong Finish To Fiscal Year With 27.8% in Revenue Growth and 21.2% Increase in its Customer Base
Mystic Management Systems, Inc. announced significant revenue growth of 27.8% as well as a substantial increase in its customer base by 21.2% for the 2006 fiscal year.
"We delivered a very strong finish to the fiscal year as customer demand for our document control, specification management and product lifecycle management solutions heightened", states Diane Wishart, Director of Marketing. Wishart further states, "The solid revenue results for the year were at the top end of our expectations and represent our continued commitment to our customers, quality software development and our ongoing operational focus."
In 2006, Mystic Management Systems made considerable progress penetrating the Asian and Australian markets, capturing 24% of total revenues from Asia, Australia and New Zealand. In addition, Mystic Management Systems recorded that many of their existing customers, including those within Fortune 500 companies, added licenses, modules and/or other sites to their existing installations as well as designating MMS solutions as a corporate standard.
"The results for this past fiscal year highlight the value and even greater success our customers are experiencing with our products," said Robert T. Sullivan, President of Mystic Management Systems . "We are seeing fantastic momentum in customer satisfaction, loyalty and excitement for upcoming product releases and services," exclaims Sullivan.
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