Quintiq Posts Record-Breaking Revenues in 2010, Projects 40% Growth in 2011

PHILADELPHIA, March 31, 2011 /PRNewswire/ -- Quintiq, a global leader of advanced planning and scheduling solutions, reports record revenue of $48 million for 2010, a 40% increase over the previous year and remains confident in its continued growth in 2011.

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Among the factors driving Quintiq's record revenues were continued momentum in European markets, accelerated growth in the United States, consolidation of market leadership in key verticals, and increased demand for logistics optimization and planning.

"Quintiq's advanced planning and scheduling solutions were bound to find success in the new markets we entered. In addition to strong customer wins in Europe, we closed three significant deals in North America and announced dual headquarters in the Netherlands and Philadelphia as well as opening a second U.S. office in San Francisco," said Quintiq CEO Victor Allis. "Quintiq also opened a new Global Development Centre office and regional headquarters for Southeast Asia in Malaysia. The Kuala Lumpur office is a vital part of our technological backbone."

While laying the foundation for future growth, Quintiq announced significant client wins from market leaders in their respective verticals, including Akzo Nobel Powder Coatings, Canadian National Railway, PANSA, P&O Ferrymasters, Saint-Gobain Glass Logistics, Sapa Heat Transfer AB, FAA, Air Products and BAE Systems.

Quintiq's advanced planning and scheduling solutions also gained visibility when Gartner named the firm as a Visionary in the 2010 Magic Quadrant for Supply Chain Planning for process Automation. With Gartner predicting accelerated supply chain spending as companies recognize that improving their planning process is still a significant area of opportunity, Quintiq is poised for more growth in 2011.

Quintiq forecasts 40% revenue growth for 2011. The global technology company will drive toward that goal with an increased focus on North America. Quintiq also expects its newer business units to see favorable adoption in 2011, especially in the Asia-Pacific region.

"Quintiq is focused on drawing a larger percentage of our revenue from international business units-which we classify as outside of Europe," Allis said. "Currently, about two-thirds of our new licenses come from organizations in Europe. With our global focus and initiatives, we expect new licenses in 2011 to come closer to 50% from Europe and 50% from the rest of the world."

About Quintiq

Quintiq provides advanced planning, scheduling and supply chain optimization software solutions. This fast-growing company, established in 1997, offers and implements software for planning and optimizing complex business processes throughout the enterprise. The company's dual headquarters are located in the Netherlands and the USA with subsidiaries in Australia, China, Finland, Germany, Italy, Malaysia, and the United Kingdom. Quintiq systems are implemented in 74 countries worldwide. More at http://www.quintiq.com

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SOURCE Quintiq