CIMdata PLM Industry Summary Online Archive

27 February 2007

Financial News

Invention Machine Enters 2007 with Record Growth and Corporate Momentum

Invention Machine Corporation announced record growth in 2006 marked by substantial year-end revenues, strong new customer acquisitions and existing customer expansions, and significant new and localized product introductions. Record revenues in the fourth quarter capped another year of strong, profitable, double-digit growth, far exceeding the overall industry averages and demonstrating increasing demand for Invention Machine's Goldfire Innovator.

"We are proud of our success in 2006 and the momentum and market traction we have achieved," said Mark E. Atkins, Chairman, President and CEO of Invention Machine. "Invention Machine's strategy has been to listen to our customers, fund R&D investments, and continue to deliver world-class solutions that uniquely address manufacturer's most pressing innovation challenges. We look forward to building on this foundation and accelerating our growth in 2007."

Customer Momentum Driven by Continued Adoption across Verticals and Geographies

Invention Machine experienced substantial customer growth in more than 15 countries across key manufacturing industries, including automotive, aerospace and defense, chemicals, consumer packaged goods, electronics, energy, life sciences and pharmaceuticals. 2006 customer wins include: Hyundai Heavy Industries, Thales, PepsiCo Inc., Dassault Aviation, Arcelik AS, Gaz de France, Leggett & Platt, Alcan, Samsung Electronics Co. Ltd., Mitsubishi Chemical Corporation, Siemens, LG Micron, Airbus, Solutia Inc., Sun Chemical, and Cardinal Health.

Global Expansion

In order to meet increased global demand for its GoldfireT solutions, 2006 marked an important year in corporate expansion:

•  Opening new offices in Frankfurt, Germany

•  Doubling the size of its global direct sales, marketing and services organizations

•  Expanding the management team with the addition of Jeff Boehm, Vice President of Marketing and Strategy, Barry Daitch, Vice President of Services, and Jeff Jarvis, Vice President of North American Sales

•  Appointing former Ascential Software Chairman and CEO, Peter Gyenes, to Invention Machine's Board of Directors; and

•  Expanding the company's presence in Asia Pacific and Europe with the addition of new resellers in Taiwan, India, Malaysia, Italy, Portugal and Sweden.

Product and Services Leadership

2006 was a banner year for Invention Machine's product portfolio with two major releases of its flagship product, Goldfire InnovatorT and a series of local language versions of the software. Notable releases include:

Goldfire InnovatorT 3.0, which ushered in a new class of knowledge-enabled innovation capabilities based around breakthrough semantic analysis functionality, enabling users to more easily leverage existing information sources to solve complex manufacturing challenges. Goldfire Innovator's Root Cause Analysis (RCA) and newly introduced Failure Mode Effects Analysis (FMEA) modules, which facilitate more rapid and comprehensive failure diagnosis and improve design reliability, are built upon a powerful new semantic structure - the Cause-Effect relationship - providing users the ability to automatically identify and retrieve 'causes' and 'effects' of events across internal and external data sources.

The release of Goldfire Innovator with a French semantic engine including a patent-pending cross-language search capability, which allows users to access and leverage concepts across both French and English documents.

Goldfire InnovatorT 3.5, which includes a new German semantic engine along with numerous feature enhancements.

The release of a fully localized Japanese version of Goldfire Innovator including a Japanese semantic engine.

2006 was also a strong year for the Invention Machine Services Group with the re-engineering and growth of the services team, the roll-out of several new and robust service offerings, and the successful completion of a record number of customer engagements.

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