SOURCE: Plex Systems

Plex Systems

May 04, 2010 09:10 ET

Plex Systems Grows Recurring Revenue 28 Percent in First Quarter

Company Continues Diversification and Adds Eight New Customers

AUBURN HILLS, MI--(Marketwire - May 4, 2010) - Plex Systems, Inc., provider of the No. 1 rated manufacturing ERP software, Plex Online, today announced that it achieved recurring revenue growth of 28 percent in the first quarter 2010 compared with the same quarter in 2009. Total revenues grew 18 percent quarter over quarter.

The company also added eight new customers and continued to receive industry recognition. 

"Manufacturing companies continue to look to the software as a service (SaaS) model as an alternative to outdated on-premises software," said Mark Symonds, Plex Systems president and CEO. "Plex Systems was the first to offer an authentic SaaS solution for manufacturers, so as interest accelerates, customers in all manufacturing industries are seeing the benefits of Plex Online."

Customers who joined the Plex Online user community in the first quarter of 2010 include:

  • ALung Technologies -- ALung Technologies is a pioneer in respiratory assist technologies. The Pittsburgh, Pennsylvania-based company is currently conducting a clinical trial in Europe for its product, the Hemolung Respiratory Assist System, and plans to conduct a pivotal trial in the United States in 2011. It will implement the full Plex Online system.

  • Enovate IT LLC -- Based in Ferndale, Michigan, EnovateIT is an international manufacturer of mobile and wall-mounted computer workstations for the healthcare environment. The medical equipment provider is launching the complete Plex Online system with a go-live date of August 3, 2010.

  • Hiawatha Rubber Company -- Hiawatha Rubber Company is a rubber molder for high-precision parts, serving many industries. The Minneapolis, Minnesota-based company is implementing all Plex Online functions except tool manufacturing. 

  • Meridian Lightweight Technologies, Inc. -- Based in Strathroy, Ontario, Canada, Meridian Technologies, Inc. manufactures magnesium components for automotive OEMs and tier-one suppliers. The company selected Plex Online over QAD, and will launch all functions with the exception of tool manufacturing.

  • Microflex Industrial -- Based in Ormond Beach, Florida, Microflex Industrial manufactures metal hose and braid, metallic expansion joints, bellows, and automotive products. The company will launch the complete Plex Online system, joining its Microflex Automotive subsidiary that became a Plex Online customer in 2007.

  • Precision Coil Spring -- Precision Coil Spring Company is a manufacturer of stampings, springs and assemblies for multiple industries, including aerospace. The El Monte, California-based company will implement all Plex Online functions, with the exception of project management.

  • RDM of Minnesota -- RDM of Minnesota, based in Dodge Center, Minnesota, selected Plex Online as a replacement to Infor/Fourth Shift. The contract metalformer is launching the complete Plex Online system.

  • Renaissance Global Logistics -- Based in Detroit, Renaissance Global Logistics is responsible for warehousing, distribution, consolidation and exportation. They receive parts from automotive tier-one suppliers and currently move Ford and GM components to Argentina, Brazil, Venezuela, Australia, Japan, Taiwan and Europe. The company will be launching Plex Online's accounting, purchasing, shipping, CRM and EDI functions.

During the first quarter of 2010, Plex Systems continued to receive industry kudos. The company was named a 2010 Hot Company finalist by the national Network Products Guide and received Corp! magazine's Science and Technology Award. Also, five of its customers were named to Managing Automation's Progressive Manufacturing 100 and identified Plex Online's contributions to their recognized business success.

About Plex Systems, Inc.
Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for the manufacturing enterprise and the only solution to achieve the prestigious Champion ranking in Aberdeen Group's 2009 "ERP in Manufacturing" AXIS report. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Operations Management (MOM) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online's fully integrated model delivers a "shop floor to top floor" view of a manufacturer's operations, enabling management to run its business at maximum efficiency. Founded in 1995, Plex Systems is headquartered in Auburn Hills, Michigan, with customers around the globe. More information is online at www.plex.com.

Plex Systems and Plex Online are trademarks of Plex Systems, Inc.

Contact Information

  • Contact:
    Peggy Fenwick
    Plex Systems, Inc.
    734-516-6490
    pr@plex.com