Plex Systems Announces Record First Quarter 2012 Financial Results
Company Reports 30 Percent Increase in Total Revenue AUBURN HILLS, Mich., May 1, 2012 -- Plex Systems Inc., provider of Plex Online, Cloud ERP for manufacturers, today announced its financial results for the first quarter ending March 31, 2012. Total revenue for the quarter increased 30.6 percent. Recurring revenue increased by 30.5 percent, representing the 19th consecutive quarter of growth. Note that as a private company, Plex Systems 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, 2012, 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.