SOURCE: Plex Systems

Plex Systems

October 15, 2009 08:00 ET

Plex Systems Continues Its Customer and Revenue Growth in Third Quarter

Recurring Revenue Grew 26 Percent Despite Downturn in Manufacturing Industry

AUBURN HILLS, MI--(Marketwire - October 15, 2009) - Plex Systems, Inc., provider of the No. 1 rated ERP software for manufacturers, today announced that its third quarter 2009 recurring revenue increased 26 percent over the same quarter in 2008, while total third quarter revenue was up 8 percent. For the first nine months of 2009, recurring revenue grew 34 percent over the same period last year, while total revenue grew 14 percent over the comparable period in 2008.

The industry-leading software as a service (SaaS) solution provider also improved its EBITDA profitability by 32 percent in the third quarter, and by 54 percent year to date. Note that as a private company, Plex Systems does not release dollar values for its revenue and profitability figures.

"Despite the continued economic challenges faced by manufacturers in the first nine months of 2009, Plex Systems has attracted new customers at a record rate," said Mark Symonds, Plex Systems president and CEO. "The triumph of the software as a service model over outdated on-premises software continues to accelerate, and Plex Systems is at the forefront of this movement."

This quarter's revenue growth includes additional business from existing customers who added new Plex Online modules to further improve their operations, as well as the addition of 10 new customers. Some of these new customers are:

--  Arbor Plastic Technologies -- This manufacturer of specialty additives
    and associated delivery systems for the plastic resin industry will be
    implementing the core Plex Online system.  The plastics technology leader
    is headquartered in Bloomfield Hills, Michigan with a lab/plant in
    Marblehead, Ohio.
    
--  Big Lift, LLC -- Big Lift, an electric lift truck manufacturer, dealer
    and servicer, will implement all core Plex Online modules with development
    work to be done on field service modules.  Big Lift has locations in
    Lombard, Illinois and Wisconsin Dells, Wisconsin.
    
--  Holland 1916 -- Holland 1916 is a manufacturer of custom
    identification products -- including nameplates, membrane switches, touch-
    screens, RFID tags, and consoles.  The north Kansas City, Missouri-based
    company will implement the complete Plex Online solution as a replacement
    for the Epicor Vista system.
    
--  Keihin Michigan Manufacturing -- This Capac, Michigan-based automotive
    supplier of HVAC and intake manifold will be implementing all Plex Online
    shop floor modules, including Production, Quality and Maintenance.
    

Third Quarter Highlights

During the third quarter, Plex Systems took several actions to ensure that its growth will continue to accelerate in the coming months.

For instance, in August, the company announced a new strategic alliance with EnteGreat, Inc., a leader in manufacturing consulting, to expand Plex Online's use among manufacturers in the food, beverage, and life sciences industries. The alliance brings together the unique and complementary strengths of Plex Systems and EnteGreat to expand application and awareness of the Plex Online solution as a solution enabling food, beverage, and life science manufacturers to achieve best-in-class performance.

Plex Systems is also proud to have received seven industry awards during the third quarter:

--  Frost & Sullivan -- 2009 Excellence in Best Practices Award in
    recognition of its ongoing commitment to technology innovation and customer
    value.
--  IMPOvation Awards -- selected by its customers as one of the top seven
    technology innovators
--  Best Deployment Scenario -- for its implementation of Plex Online at
    Jagemann Stamping Company
--  Best & Brightest 101 of Southeast Michigan -- for its innovative
    benefits, training, and communication systems
--  Alfred P. Sloan -- received the Workplace Flexibility & Business
    Excellence award
--  Corp! magazine -- named Plex Systems President and CEO Mark Symonds a
    Michigan Entrepreneur of Distinction
--  Automation Alley -- One of three finalists for CEO of the Year
    

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