RESEARCH TRIANGLE PARK, N.C., March 1, 2006- Geomagic, a worldwide software and services firm headquartered in Research Triangle Park, North Carolina, today reported its highest quarterly revenues in the company's history. This record-breaking profit is the result of positive market adoption of its competitive digital shape sampling and processing (DSSP) software among design and manufacturing sectors.
In the second quarter of FY2006 ending December 31, 2005, Geomagic set sales records with license revenues increasing 43 percent over the same quarter in FY2005. Fiscal year-to-date revenues increased by 38 percent over the previous year. The strong performance was achieved worldwide, with Asia, Europe and Americas markets performing at record levels.
“Record earnings show that we have succeeded in our worldwide growth strategy, and that our successful product enhancements are delivering significant return on investment for our customers,” says Ping Fu, Geomagic president and chief executive officer. “Enabling companies to transform and streamline their design, engineering, inspection and manufacturing processes has driven our growth. Customized products can be produced quickly and cost-effectively, offering a competitive edge that has the potential to bring high-quality manufacturing back to industrialized nations.”
New versions of Geomagic Qualify (computer-aided inspection software) and Geomagic Studio (reverse-engineering software) brought Geomagic increased momentum in core markets such as automotive, aerospace, turbine, medical and dental. The largest growth – in triple digits – has been in the sales of its Qualify software product, with sales of its Studio product also exceeding prior earnings.
“During the past year, word-of-mouth has spread, as manufacturers see the real value being generated within their own organizations or by their partners, competitors and counterparts in other industries,” says Jim Johnson, vice president of sales for Geomagic. “Multi-seat orders are becoming the norm as Geomagic products are integrated into mainstream production processes.”
About Geomagic
Geomagic (www.geomagic.com) is a global company dedicated to advancing and applying 3D technology for the benefit of humanity. Geomagic’s scanning and design software solutions are used to capture and model 3D content from physical objects, organically sculpt complex shapes, and prepare products for manufacturing. In addition, the company produces powerful 3D metrology and inspection software that verifies dimensional quality by comparing as-built products to master designs. Geomagic’s Sensable Phantom haptic devices simulate the sense of touch in a digital environment.
Geomagic’s software and hardware are utilized by world-class customers in a variety of industries, including aerospace, automotive, medical, consumer products, toys, collectibles, coindesign, jewelry, fine art, heritage restoration, research, education, mold making, entertainment, training and surgical simulation. In fact, some of the world’s leading companies and research organizationsuse Geomagic software, including Ford, BMW,Boeing, Harley Davidson, Timberland, Mattel/Fisher Price, Lego, Pratt & Whitney, NASA, Schneider Electronic, 3M, Danaher and Invisalign. Geomagic is based in Research Triangle Park, N.C., USA, with an office in Boston, subsidiaries in Europe and Asia, and channel partners worldwide.
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Geomagic, Geomagic Studio, Geomagic Qualify, Geomagic Qualify Probe, Geomagic Spark, Wrap, Geomagic Wrap, Phantom, OpenHaptics, Omni, Freeform, Claytools, Sensable and Sensable Technologies, Inc. are trademarks or registered trademarks of Geomagic Inc. All other trademarks are the property of their respective owners.
Media Contact:
Rachael Taggart
Geomagic, Inc.
+(1) 919-474-0135
Contact Rachael