Plex Systems Announces Record First Quarter Financial Results
AUBURN HILLS -- Plex Systems Inc., provider of the Plex Online manufacturing management system, Tuesday announced a 30.6 percent increase in revenue in the first quarter ending March 31, compared to a year earlier.
Recurring revenue increased by 30.5 percent, representing the 19th consecutive quarter of growth.
Privately held Plex does not release dollar values for its revenue and profitability figures.
In the first quarter, the company grew by adding 12 new customers and 16 employees. The company now has 223 talented staff, including new vice president of strategy Jim Shepherd, formerly with Gartner.
Plex Systems also announced the dates for PowerPlex, its 11th annual user conference. It will be held on May 14-16 at the Indianapolis Marriott Downtown. This year's theme is "Know More, Do More, Win More."
"Our first-quarter results underscore our continued momentum and validate our optimism for 2012 and beyond," said Mark Symonds, Plex Systems president and CEO. "We will continue to expand and improve while providing the best service to our existing customers."
Awards and Recognitions
Plex Systems continued to receive industry recognitions and awards in the first quarter. Notable are:
* Plex Online was a finalist in the "Tomorrow's Technology Today" category of the eighth annual Info Security's 2012 Global Excellence Awards.
* Five of Plex Systems' customers received the 2012 Manufacturing Leadership 100 (ML100) awards presented by Manufacturing Executive.
* Plex Online is a finalist in three categories of the Software & Information Industry Association's 27th annual CODiE Awards: Best Supply Chain Management Solution, Best Business or Competitive Intelligence Solution, and Best Document Management Solution.
Community Giving
Plex Systems announced Make-A-Wish Foundation of Michigan as its charity partner for 2012. The Make-A-Wish Foundation of Michigan grants wishes to children with life-threatening medical conditions. Every year, Plex Systems employees select one or two nonprofits to support. At the 11th annual PowerPlex, the company will host a silent auction to raise funds for the Make-A-Wish Foundation of Michigan.
Plex Systems Inc. is the developer of Plex Online, a software-as-a-service management system for manufacturers. Plex Online offers features for virtually every department within a manufacturer, including manufacturing execution systems and quality management systems for the shop floor, supply chain management for procurement, and enterprise resource planning for finance and management. Plex Online's comprehensive functional coverage delivers a "shop floor to top floor" view of a manufacturer's operations, enabling management to run its business at maximum efficiency.
More at www.plex.com.
