VISTAGY, Inc., a leading provider of industry-specific engineering software and services, today announced that its revenues grew 29 percent and product license sales expanded 36 percent in 2010 as the company realized the benefits of developing comprehensive solutions by industry and its investment in reaching new customers in key emerging markets. The revenue and product license growth was reflected across North America, Europe, and Asia Pacific. This acceleration in revenue is a clear demonstration that the world’s leading manufacturers are recognizing VISTAGY’s ability to support their most challenging programs.
VISTAGY achieved significant growth in its target industries—aerospace, wind energy, and automotive—as manufacturers and suppliers continued to seek out VISTAGY’s best-in-class tools that support the entire design-to-manufacturing process for highly engineered products. For instance, VISTAGY picked up eight new wind energy customers, including many of the world’s premier firms. It also significantly enlarged its footprint in the emerging Chinese and Russian aerospace markets.
With opportunities growing across the globe, VISTAGY also adopted an aggressive hiring policy in 2010, increasing its head count by 12 percent. The year was highlighted by sales to a number of industry leaders, including BAE Systems, Bombardier Aerospace, Cobham Antenna Systems, Kaman Helicopters, and GKN Aerospace; premier Chinese wind firm Sinomatech; automotive supply giant Lear, and Russian shipbuilder SNSP.
VISTAGY also announced several key partnerships in 2010, including integrating the firm’s FiberSIM® composites engineering software and ANSYS Composite PrepPost, thus enabling customers to close the loop between design and analysis. VISTAGY also participated in PTC’s highly anticipated launch of Creo.
“We’ve made a significant investment in developing industry-specific solutions and reaching out to customers across the world so our 2010 results validate that strategy,” said Steve Luby, president and CEO of VISTAGY.
“We are focused on critical areas of technology—composites, airframe assembly, transportation interiors—that are transforming many industries, especially our target markets of aerospace, wind energy, and automotive. Our products are helping to drive that transformation by providing support for the entire product development process. As a result, I believe that our solutions will continue to resonate with global manufacturers and suppliers.”