TORONTO--(BUSINESS WIRE)--Eyelit Inc. announced record revenue for the fourth quarter and for the full year of 2017. The company also recognized a significant increase in its profitability.
Eyelit’s 2017 fourth quarter growth of over 60% in top-line revenue was driven by Enterprise customers with active Eyelit deployment projects in North America, Europe and Asia. During the quarter Eyelit’s Services revenue doubled, recurring revenue grew by over 25%, and software license revenue grew by over 40%.
For the full year of 2017, top-line revenue increased by over 50%. Eyelit realized growth in all key business segments, with year-over-year recurring revenue growth of over 20%, and with software license and services revenue both increasing by over 90%.
“2017 was great year for Eyelit,” stated Dan Estrada, Vice-President of Sales and Marketing, Eyelit. “We are very happy with the execution of our strategic global expansion driving over 50% total revenue growth and another new company revenue high. The steady increases in recurring revenue also bode well for continued company growth. We are already off to an excellent start for 2018, projecting additional growth in the first quarter of 2018.”
About Eyelit Inc. (www.eyelit.com)
Eyelit Inc. is the leader in Manufacturing Execution and Quality Management (MES and QMS) solutions for visibility, control, and coordination of manufacturing operations for the aerospace & defense, electronics, life sciences, medical device, semiconductor, and solar industries. Eyelit uniquely delivers a broad set of manufacturing solutions, including Asset Management (Semi E10, SEMI PV2-0709), Dispatching, Factory Integration (Automation), Manufacturing Execution (MES/MOM), Recipe Management, Supply Chain Management, Quality Management (CAPA/OCAP/SPC/APC/RMA), and Business Process Management, that enable its customers to rapidly and cost-effectively optimize production and company processes.
With exceptional customer service, Eyelit has time and again proven that superior, innovative technology can maximize efficiency and value. More than 50 leading companies, including Ascent Solar, austriamicrosystems, CEA-Let, CEITEC, eMagin, FLIR Systems, Innovative Micro Technology (IMT), LFoundry, Murata Electronics Oy, Northrop Grumman Corporation, NXP Semiconductors, PerkinElmer, Raytheon Company, Skyworks Solutions, TowerJazz, TowerJazz Panasonic Semiconductor, and X-FAB Silicon Foundries rely on Eyelit as a trusted software partner. Follow Eyelit on LinkedIn and Twitter.