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Eyelit Inc. Records Profit for the Eighth Consecutive Year in Fiscal Year 2004

Company reports 60% year-to-year revenue growth and continued market momentum

May 03, 2005
TORONTO, Ontario—(BUSINESS WIRE)— Eyelit, Inc., the leader in Collaborative Production Management (CPM) solutions for visibility, control, and coordination of enterprise manufacturing operations for the electronics, life sciences, and semiconductor industries, announced record revenue and its eighth straight year of profitability for fiscal year 2004.

Highlights for the last fiscal year include:

  • Increased Company Growth and Profit: Eyelit posted a record fiscal year in 2004 with a 60% increase in revenue over the same period the previous year. The company saw a 6x increase in revenue from its flagship MES product suite. Eyelit recorded a 2x increase in year-to-year support revenue and an eighth consecutive year of profit.
  • New Customers and Existing Customers: Eyelit secured three new Manufacturing Execution System (MES) customers (DMEA, Spectra Inc., and VTI Technologies) in the second half of 2004, beating out larger competitive MES vendors head to head. The third win for the year was Eyelit's second successful migration from a legacy MES to Eyelit's revolutionary MES product suite. 2004 was also marked by significant revenue from Europe. European partner Ascari worked closely to develop the growing demand in that region of the world. Finally, there was continued reinvestment from our existing customers, including Analog Devices, Freescale Semiconductor (Motorola), Skyworks, and others.
  • Product Suite: November 2004 marked the release of version 2.5 of Eyelit's Enterprise MES with added capability for Executive Dashboards, Key Performance Indicators (KPIs), and Multi-Site Data Transfers (including critical processing information and data model (metadata) synchronization). It also included Messaging, Timers (lot/order sequencings) and other enhancements that pushed it past the available functionality in many of the leading competitive solutions. Today, 100 % of Eyelit's customers have already moved to this latest release and are realizing the benefits of these enhancements.
  • Business Model: Successful change of Eyelit's business model from an OEM technology provider through their relationship with Brooks Automation (PROMIS™ MES) to a single-source vendor model. In 2003, the OEM relationship accounted for 75% of Eyelit's total revenue. We project that by the end of 2005, it will be less than 5% of Eyelit's total revenue.

CEO Salil Jain states, "Obviously, we are quite pleased with our 2004 performance. It was a transitional year that we navigated very successfully, moving to a direct business model with our flagship MES, Quality and Integration product suites. My greatest satisfaction is the success our customers are enjoying with our products. We realized and continue to realize a large amount of repeat business. It is very important we continue to work hard to ensure our customers are happy and realizing benefits from our solution. Customer satisfaction is the cornerstone of our company; it is something we take very seriously. We look for bigger things in 2005 as we continue to expand, projecting a 2x revenue increase and the ninth straight year of profitability for Eyelit."

About Eyelit Inc.

Eyelit is the leader in Collaborative Production Management (CPM) solutions for visibility, control, and coordination of manufacturing operations for the electronics, life sciences, and semiconductor industries. Eyelit uniquely delivers a broad set of manufacturing solutions including product costing, asset management, manufacturing execution, supply chain execution, quality management 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 Analog Devices, Freescale Semiconductor (Motorola), Kodak, Skyworks Inc., 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."