CIMdata PLM Industry Summary Online Archive
2 September 2004
Financial News
think3 Registers Solid Growth as Market Responds to Expanded Offerings
think3, Inc. announced financial results for the second quarter of its fiscal year, posting dramatic gains in its services business as well as solid overall growth. The company's revenues of more than $9 million grew 12 percent compared to the year-ago quarter, and its services billings more than tripled, with the largest percentage gains coming from markets in Japan and the United States.
"The evidence of our transition to a full-service, product lifecycle management supplier for the small and mid-sized manufacturer is in. We've made a great leap forward in services over the past year," said Joe Costello, chairman and CEO for think3. "At the same time, we generated a lot of new customers and momentum in industrial design with the launch of our 9.0 release. We are gaining market share with our breakthrough technology."
think3 added more than 1,250 new subscriptions and signed 57 new customers in the second quarter by focusing on sales opportunities that leveraged the breadth of think3's offerings. New customers and others expanding services worldwide included:
• Japan: Honda R&D Corporation, automotive manufacturer
• United States: Brayton International, a division of Steelcase Inc. and manufacturer of lounge, collaborative and healthcare seating; and Foraxis Design, an industrial design firm that specializes in contemporary furniture, consumer products and motorcycles
• Italy: Rodriquez Cantieri Navali, a leading worldwide ship manufacturer; Costec, manufacturer of filling, rinsing closing and bottling machinery; and Valli & Valli, a manufacturer of handles, knobs, furniture fittings, and other furnishings and accessories
• France: C.Stem, a prototyping firm supporting the automotive industry and 4m, a mold making company also in the automotive segment
• Germany: BMW, an automotive manufacturer and Mont Blanc, a manufacturer of roof racks
Other highlights of the second quarter as previously announced include:
• Michael Graves Design Group (MGDG), one of the world's most accomplished and respected design firms, selected think3 as its standardized technology partner for its product design division in the second quarter. MGDG's product design group has created more than 1,500 products over the past two decades for companies such as Target, Alessi, Dansk and Delta Faucet. "So many tools available today force the designer to conform to established rules and not the other way around. think3 listens to our suggestions and is constantly developing new technology that better fits the juggling act that characterizes product design," said Kyle Ryan, product manager at MGDG.
• The successful launch of think3's new 9.0 product suite. The new offerings bring customers the best combination of technology and expertise to support the entire design and product development process, and help mid-size manufacturers and design engineers compete and win in global markets.
• The new 9.0 product suite - thinkdesign, thinkteam and thinkiD - is crafted to provide powerful end-to-end solutions for product design and machine design, leveraging key technology breakthroughs and think3's expertise in its customers' product development processes.
• As part of its 9.0 product suite, think3 introduced its new industrial design solution, thinkiD. thinkiD revolutionizes consumer product design and provides a complete solution. With "Zone Modeling," exclusive to thinkiD, designers can make creative, precise and detailed modifications as a solid feature to any shape, native or imported. Having the option to work in both surface and solid modes is already helping some customers see a 50 percent increase in productivity in terms of making quick changes.
• think3's leadership position was further validated this past quarter by its selection as one of the 2004 Ten Best Web Support Sites winners by the Association of Support Professionals (ASP). think3 was the only company in its industry category named to the prestigious list.
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