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InnovMetric Reports Record Sales of 3400 PolyWorks® Licenses for Fiscal Year 2017

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QUEBEC CITY, May 08, 2018 (GLOBE NEWSWIRE) -- InnovMetric Software Inc., the leading provider of universal 3D metrology software solutions, proudly announced today that worldwide demand for the PolyWorks universal 3D metrology software platform, in fiscal year 2017 (ending March 31, 2018), has led to all-time record sales of 3400 new licenses.

InnovMetric's global sales revenue in Canadian dollars increased by 6.5% compared to the previous fiscal year, helped by a robust revenue growth of 13% in Europe. PolyWorks sales revenue growth exceeded 30% in six countries: Brazil, Mexico, France, Italy, Poland, and India.

"Large industrial manufacturing organizations, as well as small and medium enterprises, have been prudent in their technology investments in several mature PolyWorks markets this year, due to economic uncertainties related to global trade. Nevertheless, we have kept up expanding our technical and sales presence worldwide, allowing us to reach this significant sales record. We've even gained market share in Europe, which is a direct consequence of the significant investments we've brought to our European business infrastructure in recent years. Together with our key European business partners, we now offer a comprehensive business ecosystem to support our European customers' deployment of the PolyWorks universal platform, and this year's results clearly show that our business strategy is in line with our customers' needs," said Marc Soucy, President of InnovMetric.

For more information about InnovMetric and PolyWorks, visit: www.innovmetric.com.

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 340 employees in 16 countries: Canada, United States, Mexico, Brazil, France, Italy, Spain, Czech Republic, Netherlands, Sweden, Turkey, South Africa, India, Thailand, China, and Japan.

Contact: Antoinette THIBEAULT, Director of Marketing Operations, InnovMetric Software
Tel: 1-418-688-2061 x309
Email: athibeault@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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