CIMdata PLM Industry Summary Online Archive
29 January 2009
Financial News
VISTAGY's Revenues Climb 30 Percent in 2008 in Spite of Challenging Economic Environment
VISTAGY, Inc. announced that its revenue increased 30 percent over 2008 in spite of the systemic problems in the badly slumping worldwide economy. Fueling that growth was a robust 52 percent increase in product revenue.
The company aims to build on that success in 2009 by continuing to forge close relationships with its customers, expanding its commitment to the emerging aerospace markets in Russia, Asia Pacific and India, and increasing its share of the aerospace, automotive, transportation interiors and the fast-growing wind energy markets.
"We were particularly strong in the fourth quarter when the economy was significantly deteriorating, proving that our products are especially relevant when it is critical to achieve increased efficiency and associated cost savings," said Steve Luby, president and CEO of VISTAGY.
"We focus on partnering closely with customers to develop and deploy design methodologies tailored to their specific products and processes. I think that had a lot to do with our success in 2008. Our software not only enables customers to more efficiently design and manufacture some of the world's most complex products, but our customers have reported that the knowledge, experience and responsiveness of the people at VISTAGY are also critical factors in their success."
In 2008, VISTAGY continued to support the expansion of the aerospace industry to emerging markets while maintaining its strong position in North America and Europe by partnering with premier sales and service providers, such as CSM Vigyan in India, Innovation Technologies and Solutions (ITS) in Russia and INCAT in North America. VISTAGY also signed a variety of customers in Russia and China that are using VISTAGY's FiberSIM® composites engineering software and Airframe Development Environments™ aircraft assembly software to reduce product development cycles, enhance product quality and meet aggressive delivery schedules.
Another source of growth for VISTAGY in 2008 was its Seat Design Environment™ (SDE) software. VISTAGY signed a number of new customers, including Faurecia, the eighth-largest automotive supplier in the world. Faurecia purchased SDE for use in its engineering operations in the United States as well as Europe. While the initial purchase of SDE will be used to enhance the engineering of seat trim in automotive interiors, the companies plan to work together to improve software applications and related engineering methodologies for designing and manufacturing foam, seat assemblies and entire automotive interiors.
"At one time, CAD was the first and last word in design," said Mr. Luby. "But as firms have strived to design and manufacture more complex and integrated components and assemblies and use new materials and processes, they have discovered the need for complementary, specialized engineering tools that enable them to design better products faster. We look forward to helping our customers succeed by doing just that in 2009."
Become a member of the CIMdata PLM Community to receive your daily PLM news and much more.
Tell us what you think of the CIMdata Newsletter. Send your feedback.
CIMdata is committed to your privacy. Your personal information will never be sold or shared outside of CIMdata without your express permission.