Software License Revenue Doubles, Top 10 Brand Owners in Consumer Electronics, Medical Device and Semiconductor Markets Sign with Manufacturing Software Leader
CHARLOTTE, N.C. (February 1, 2011) – Camstar Systems, Inc. announced today that its 2010 financial results represented a record revenue year across all revenue streams of the company, with total revenue growth up over 38% from 2009. Software license revenue more than doubled year over year, with maintenance and services revenue growth adding to a stellar year. The significant revenue growth resulted in Camstar far exceeding all of its profit targets for 2010, including its investment and acquisition activity.
Camstar's investments and acquisitions are contributing strongly to its financial success. The SigmaSure product line, a SaaS-based Supply Chain Quality solution, has posted 58% monthly recurring revenue growth since the acquisition of SigmaQuest in July 2010. Camstar Quality, a strategic investment adding Quality Management to the Camstar Enterprise Platform, recorded its largest sale to date, with the signing of a global multi-national 7-site license agreement.
"We are pleased to report on another very strong growth year for Camstar," said Scott Toney, President and CEO of Camstar. "Our commitment to serving our customer base through continued investment in our solutions and through key technology acquisitions has made us a more strategic partner, as reflected in our nearly perfect renewal performance. We are in a strong position in 2011 to continue our investment strategy; strengthening our leadership in Manufacturing Execution Systems (MES) across our core industries and adding SaaS-based solutions to advance product quality across the global supply chain."
"We are excited about our rapid expansion into the Consumer Electronics market," said Rob Rudder, Senior Vice President of Sales and Marketing at Camstar. "The global agreements we signed in 2010 add to our customer list some of the largest, most well-known manufacturers in the world. We now serve 5 of the top 10 Medical Device manufacturers, 4 of the top 10 Semiconductor manufacturers and 5 of the top 10 Consumer Electronics brand owners."
To learn more about Camstar, visit www.camstar.com.
About Camstar Systems, Inc.
Camstar is a leading innovator of software solutions that advance product quality in the manufacturing industry, enabling its customers to deliver the highest quality products on time, the first time and every time. The Camstar Enterprise Platform advances product quality throughout the product lifecycle, from design to planning to supply to manufacturing to customer product experience – all in a closed-loop learning process that allows future products to be designed better and manufacturing processes to be leaner and more efficient.
Camstar is the largest in its market, providing solutions for manufacturing execution, process planning, enterprise quality management and supply chain intelligence. For over 20 years, Camstar has served hundreds of satisfied customers worldwide, including Abbott, AMD, Amkor, Arcelor, BAE Systems, Beijing SE Potevio Mobile Communications, BIOTRONIK, Boston Scientific, Canadian Solar, CIBA Vision, Cisco, Emcore, Ericsson, Hitachi, Honeywell, IBM, Intevac, Kodak, Life Technologies, Luvata, MiaSolé, Motorola, Nortel, Noven Pharmaceutical, NXP, Panasonic, Q-Cells, Roche, SanDisk, Siemens, Stryker, Xilinx, Zeiss and ZOLL. For more information, please visit www.camstar.com.