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InnovMetric Reports Record PolyWorks® License Sales Worldwide for Fiscal Year 2016

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QUEBEC CITY, May 08, 2017 (GLOBE NEWSWIRE) -- InnovMetric Software Inc., the leading provider of universal 3D metrology software solutions, proudly announced today that worldwide demand for PolyWorks® in fiscal year 2016 (ending March 31, 2017) led to a 20% global sales revenue increase compared to the previous fiscal year. This growth was fueled by all-time record sales of 3300 new licenses of PolyWorks.

The PolyWorks sales growth in the three largest Asian markets, China, Japan, and India, has reached an impressive 35%. Moreover, PolyWorks support/maintenance contract sales in North America and in Western European countries have also significantly increased, by 30% and 40% respectively.

"2016 represented a defining moment in our company's history: we achieved our 2006 vision of delivering a universal 3D metrology software platform by unifying the worlds of portable metrology and CNC CMMs. Although an impressive achievement in itself, what truly made PolyWorks 2016 a milestone in the metrology industry is the fact that it delivered a truly universal 3D metrology workflow. Portable metrology and CNC CMM operators were now able to define and execute their measurement plans, and review the measurement results, using the same tools and methods within a single software module," said Marc Soucy, President of InnovMetric. "Commercially, it was also a transition year, as our large manufacturing OEM customers needed to assess all the cost-reduction opportunities brought by a universal platform before embracing our unique vision. The remarkable growth in license and support/maintenance sales worldwide shows that PolyWorks 2016 is gaining acceptance and is starting to take root. This is exciting news that should lead to major sales opportunities in FY2017 as we prepare to celebrate the sale of the 20,000th PolyWorks license in June."

About InnovMetric Software

Founded in 1994 and headquartered in Quebec, QC, Canada, with subsidiaries worldwide, InnovMetric Software Inc. is the leading provider of universal 3D metrology software solutions. The world's largest industrial manufacturing organizations (Toyota, GM, Volkswagen, Honda, BMW, Daimler, Ford, Rolls-Royce, Pratt & Whitney, Boeing, Embraer, Bombardier, Apple, and many more) trust InnovMetric's PolyWorks® software solutions and associated technical services to maximize the benefits of 3D measurement technologies for their engineering and manufacturing applications.

With its subsidiaries and joint ventures, InnovMetric has more than 250 employees in 14 countries: Canada, United States, Mexico, Brazil, France, Italy, Spain, Netherlands, Sweden, Turkey, India, Thailand, China, and Japan. For more information, please visit: www.innovmetric.com.

Contact: Nathalie Rhéaume
Tel: 1-418-688-2061
Email: nrheaume@innovmetric.com
Website: www.innovmetric.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: InnovMetric Software Inc. via Globenewswire

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