CIMdata PLM Industry Summary Online Archive
1 March 2012
Financial News
Comet Solutions® Increases Sales by 150% over Previous Year
Comet Solutions, Inc. announced that its sales increased by more than 150% in 2011, with half of its business coming from Asia. New customer orders accounted for 70% of the company's global revenue, with revenue in China alone exceeding 220% growth. In addition, the company announced new customers and the opening of an office in Southfield, Michigan.
"We see two strong market needs driving our dramatic sales growth," commented Dan Meyer, President and CEO of Comet Solutions. "Established users of CAE tools want to increase the business impact of computer-based simulation by running more complex system-level performance simulations early and often throughout the new product design process. And, in those developing markets, such as China, where companies may have less simulation expertise and domain knowledge but still need to make more use of advanced CAE tools, simulation itself must be much easier to perform. Comet addresses both of these needs via Intelligent Templates which are based on industry best practices as well as a customer's unique engineering know-how."
In addition to its many new customer wins in 2011, such as 3DIcon Inc., The Air Force Research Laboratory and the China Academy of Space Technology, existing customers, including The Aerospace Corporation, NASA and the TangShan Railway Vehicle Co., have renewed and expanded their use of Comet, which has contributed to the company's continued growth.
Anticipating another year of record growth, the company opened a new office in Southfield, Michigan. As Meyer noted, "We want to support our growing customer base in that region, best position our company to serve the fast recovering automotive industry, and take advantage of the local engineering software talent pool. With our recent successes and growth rate, we are now among the fastest growing companies in the PLM market. And the addition of this new office shows our commitment to growing our business and maintaining and expanding our customer support."
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