SofTech, Inc. (OTCQB: SOFT) enhances customer productivity
and promotes profitability through the development, marketing and distribution
of computer software solutions for the product lifecycle management (PLM)
industry. In particular, the company’s proprietary ProductCenter® PLM solution
enables users to automate product data and lifecycle processes, allowing for
streamlined management of product development from concept to commercialization
and beyond. Currently, over 100,000 users benefit from SofTech’s innovative
portfolio of software solutions and services, including employees of General
Electric Company (GE), Goodrich, Honeywell (HON), AgustaWestland and the U.S.
Army.
In recent months, SofTech has leveraged the marketability of
its PLM solutions to record strong financial results. Despite a year-over-year
decrease in total revenues following the sale of its CADRA product line, the
company recorded a 20.5 percent year-over-year increase in ProductCenter
revenue in the fiscal quarter ending February 28, 2015, as two of the company’s
existing customers significantly escalated their usage of the product. Moving
forward, SofTech will look to build on this progress by expanding its industry
reach.
“The sale of the CADRA product line in 2014 provided the
capital and the flexibility for us to make a significant current year
investment in the development of a new PLM-based product aimed at the consumer
market,” Joe Mullaney, chief executive officer of SofTech, stated in a news
release. “We believe this product has the potential to get SofTech on a revenue
growth path, an essential element of shareholder value enhancement.”
Through the continued expansion of its portfolio, SofTech
could be in a strong position to capitalize on the growth of the PLM industry
in the years to come. According to a report by Transparency Market Research,
the global PLM market is expected to grow at a compound annual growth rate of
8.1 percent from 2015 to 2022, reaching a market value of more than $75.8
billion by the end of the period. Rising demand for product innovation and
enhanced productivity are expected to dramatically increase the deployment of
PLM solutions in non-traditional end-use sectors, including consumer products
and retail.
With over 45 years of industry experience, SofTech is an
established player in the expanding PLM industry. Look for the company to
leverage this positioning in order to promote continued adoption of its
ProductCenter solution and prepare for the commercial launch of its
groundbreaking consumer market-centric product in the coming weeks.
For more information, visit www.softech.com
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Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
