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Eyelit Inc. Reports 80% Revenue Growth and Eleventh Consecutive Year of Profit in 2007

Growth and Profitability Fueled by Photovoltaic (PV) Solar Industry Demand

March 20, 2008
TORONTO—(BUSINESS WIRE)—Eyelit Inc., a manufacturing software provider for visibility, control, and coordination of manufacturing operations for the aerospace & defense, electronics, life sciences, semiconductor, and solar panel industries, announced today record revenues for 2007 with clean-green technology industries being the largest contributor of growth. In particular, photovoltaic (PV) solar panel manufacturers are realizing the benefits of Eyelit's Manufacturing and Quality product suite.

This year marked Eyelit's tenth anniversary, the company has been profitable every year since its inception. Eyelit began its business in 1997 as an OEM technology provider of Java™-based solutions designed to enhance the capabilities, flexibility, and usability of PROMIS®, a legacy semiconductor MES (recently acquired by Applied Materials from Brooks Automation). Today, Eyelit is the direct supplier of its own comprehensive product suite, including key shop floor control solutions such as MES, Quality Management (CAPA, Quality, OCAP, SPC, RMA and Workflow Management), Lean Manufacturing, Asset Management for Equipment Maintenance, and Product Costing. Rounding out Eyelit's offerings are Business Intelligence, Eyelit's FactoryConnect automation solution, and Enterprise Coordination for management of multiple sites, using copy smart or copy intelligent business models.

All of Eyelit's solutions were designed and built from the ground up by Eyelit. As a result, Eyelit is a single-source vendor providing the quickest implementation time and most cost-effective solution in the marketplace today. Eyelit also uniquely provides a turn-key migration from legacy MES applications that dramatically reduces the total cost of ownership, while providing greater flexibility with a simplified and modern architecture.

Highlights for the last fiscal year include:

  • Increased Revenue: Eyelit posted a record fiscal year in 2007 with a 80% increase in revenue over the previous year. The company saw a 60% increase in new customer wins over 2006. Eyelit recorded a 2x increase in year to year support revenue and 2x increase in average deal size.

  • ERP Partnership, Industry and Geographic Diversification: Eyelit demonstrated superior application flexibility by moving further into the Aerospace & Defense, Automotive, and Solar areas of the market. The company has also secured a five-site implementation in China, marking Eyelit's first foray into the thriving Chinese marketplace. Three new Oracle EBS customers also joined the Eyelit family, and will further drive total solutions between Eyelit and Oracle. Eyelit has also acquired new solar panel industry customers in the fast growing arena of Copper Indium Gallium Selenide (CIGS) thin film manufacturing.

  • Company Growth: In 2007, Eyelit purchased a new office building, moving from a lease model and nearly doubling the office space. Eyelit has seen a 50% increase in number of employees and continues to hire.

CEO Salil Jain states, "This was our best year yet; we exceeded our targets across the board, increasing our revenue, average selling price (ASP), and both geographic and industry expansion. We are really excited about the opportunities in the solar industry. We are projecting growth and profitability again in 2008, with the first quarter of 2008 expected to be our best quarter thus far. We are aggressively expanding our partnerships and hiring to keep up the growing demand for Eyelit's products."

About Eyelit Inc. (www.eyelit.com)

Eyelit is the leader in Manufacturing Execution and Business Process Management (MES and BPM) solutions for visibility, control, and coordination of manufacturing operations for the aerospace & defense, electronics, semiconductor and solar industries. Eyelit uniquely delivers a broad set of manufacturing solutions, including Asset Management, Factory Integration (Automation), Manufacturing Execution (MES), Supply Chain Execution, Quality Management (CAPA/OCAP/SPC), and Business Process Management, that enable our customers to rapidly and cost-effectively optimize production and company processes. With exceptional customer service, Eyelit has time and again proven superior innovative technology can deliver quicker time to value. More than 40 leading companies, including A123Systems, Analog Devices, austriamicrosystems, Freescale Semiconductor, HelioVolt, Tower Semiconductor, and VTI Technologies, rely on Eyelit as a trusted software partner.

Eyelit Inc.
Amy DeHeer
+1 905 502 6184

"Eyelit is one of a new breed of production management suppliers that "gets it" when it comes to plant software. This is what manufacturers need in order to enhance enterprise performance in real time."