January 13, 2011
InfinityQS Posts Record Revenue Growth in 2010
Growth attributed to manufacturers' success using quality control to reduce production costs
Chantilly, VA - January 13, 2011 - InfinityQS, the leader in manufacturing quality control software, today announced a 53% increase in annual revenue for 2010. The revenue growth is the result of new business additions, an expansion of current business into their "on demand" cloud computing platform and significant growth in consulting services.
This announcement comes on the heels of the worst economic crisis in the U.S. since the Great Depression. InfinityQS experienced revenue growth of 150% during the five year period that ended Dec. 31, 2010, and posted record growth in 4 out of 5 of those years.
InfinityQS' long term growth projections spurred a workforce increase of 16% for the year. The company added positions in consulting, technical support (including bilingual support), research & development, and marketing along with new support positions at its international division in Beijing, China.
"The driving force behind any growth at InfinityQS is our customers' success," said Michael A. Lyle, president and CEO of InfinityQS. "The results support our view that a robust quality control system is the best way to improve production yield and increase profits. We are continuing to ramp up our development and support services to meet our customers' demand."
In 2010 InfinityQS acquired major new customers in the medical device, packaging, solar energy, and aerospace industries and expanded relationships with global manufacturers such as PepsiCo. The company's annual user conference, Infusion, saw record attendance and included speakers from Medtronic, Proctor & Gamble, and other highly-ranked companies in the IW US 500.
In November, InfinityQS released ProFicient 4.3, the latest upgrade to the leading real-time Statistical Process Control (SPC) platform. The release improves manufacturers' ability to leverage their quality control system to reduce costs associated with scrap, rework, warranties, recalls and other quality costs. The release also includes tools to help food manufacturers more effectively monitor and analyze their food safety initiatives.
In 2011, InfinityQS plans to release new software modules and services with a focus on mobile data collection and reporting as well as continued enhancements to the industry leading quality control platform, ProFicient.