CIMdata PLM Industry Summary Online Archive
25 June 2008
Financial News
Sopheon Achieves Growth Milestone with Signing of 150th Licensee Customer
Sopheon announced that 150 customers have now licensed its software products. Recent signees include Novartis, the world’s fifth-largest pharmaceutical company, Burger King Corp., the second largest fast-food hamburger chain in the world with more than 11,400 restaurants in all 50 U.S. states and 70 countries and U.S. territories, and the U.S. Army. Sopheon entered 2008 with 135 licensees.
Recent orders have continued to add to the company’s already promising performance outlook for 2008. Earlier this month, in a statement to attendees of its annual general meeting for shareholders, Sopheon announced that revenue visibility for the full year 2008 already stood at £5.7 million. Based on business activity since the meeting, such visibility has now increased to more than £6 million. Visibility at any point in time comprises revenue expected from (i) closed license orders, including those which are contracted but conditional on acceptance decisions scheduled later in the year; (ii) contracted services business delivered or expected to be delivered in the year; and (iii) recurring maintenance, hosting and rental streams. The visibility calculation does not include revenues from new sales opportunities expected to close during the remainder of 2008. The company’s pipeline of such prospective business remains very active. Sopheon’s revenues for all of 2007 totaled £6.3 million.
“Today’s milestone punctuates a historic pattern of substantial growth,” said Barry Mence, chairman of Sopheon’s board of directors. “Since 2001, reported revenues from our core business have increased by an average of 41% in U.S. dollars annually. This record has been achieved despite periods of economic uncertainty and escalating competition. Our success obviously reflects the appeal of our solutions and their benefits. But it is also rooted in the quality of our people, and the passion and dedication that they bring to every aspect of our effort to deliver exceptional value to our customers. I couldn’t be more proud of what they have accomplished.”
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