CIMdata PLM Industry Summary Online Archive
May 18, 2010
Financial News
Bentley Publishes May 2010 Annual Report
Be Together: The Be Communities LIVE Conference -- At this gathering of infrastructure professionals, Bentley Systems, Incorporated announced the availability of its May 2010 Annual Report at http://www.bentley.com/annualreport. The report emphasizes the company's financial resilience -- as 2009 GAAP revenues of over $450 million represented subscription growth, average compounded annual growth of 10 percent over the past decade, and gains in market share.
Bentley's internally-funded investment program continued, supplementing its 20 percent R&D funding commitment with strategic acquisitions. Major 2009 acquisitions included gINT, market leader in geotechnical data management; BridgeMaster for bridge production in China; and 9SQ in Korea for specialized plant applications. Subsequently, Bentley accelerated its AssetWise platform initiative for infrastructure operations through the major acquisitions of Exor, market leader in linear networked assets such as roadways, and eB, market leader in configuration and records management of mission-critical operations such as nuclear plants. Since 1999 Bentley has invested over $1 billion in R&D and acquisitions, while maintaining a conservative capital structure and minimal net debt.
The report highlights company achievements for the past year, including:
•value-creative innovations in information modeling software, including V8i (SELECTseries 1) versions of MicroStation, ProjectWise, and Navigator; OpenPlant products based on the ISO 15926 standard; breakthrough 3D GIS capabilities for intelligent city modeling; Bentley Substation V8i for comprehensive schematic and physical substation design; the Integrated Structural Modeling methodology; and the i-model, a container for open infrastructure information exchange;
•developments in support of initiatives introduced in its May 2009 Annual Report: Sustaining Water, Sustaining Transportation Infrastructure, High-Performance Buildings, Generative Design, and Construction Simulation;
•representative projects and milestones relating to Bentley's solution offerings in Buildings and Campuses, Roads, Bridges, Rail and Transit, Utilities, Power Generation, Water and Wastewater, Process Manufacturing, Mining and Metals, Government, and Communications;
•the deployment of Bentley's full portfolio across all disciplines for what may be the world's most "integrated project" (and Europe's largest): the Crossrail surface and underground railway across and beyond Greater London;
•commercially innovative Passport Subscriptions that provide infrastructure practitioners economical "software and services" access to the full range of software products, applicable Bentley LEARN training, and digital content appropriate to their roles;
•the "tipping point" adoption of Bentley Institute's Live Virtual Classrooms, offered through Bentley LEARN subscriptions to more effectively sustain the infrastructure professions.
CEO Greg Bentley said, "We and our users are collectively poised for a 'triple play' as we stand astride the intersection of the three imperatives I foresee driving global economic progress throughout this new decade: first, infrastructure offers compellingly superior returns on investment and opportunities abound, both in the developed world and emerging markets; second, international engagement is vital, and we and our users are mutually well qualified to lead and benefit from strategies for expanded free trade, maximizing our users' 'return on talent' while improving lives everywhere; and third, innovation is inexhaustible -- in the case of Bentley Systems, the innovation potential of our continuous stream of technologies is compounded when creative professionals and farsighted owners leverage these tools to improve the delivery and performance of infrastructure."
To view a copy of Bentley's May 2010 Annual Report online, visit http://www.bentley.com/annualreport.
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