Plex Systems Announces 33 Percent Revenue Increase In 3Q

TROY, Mich. — Plex Systems Inc., provider of Plex Online, Cloud ERP for manufacturers, today announced its financial results for the third quarter ending September 30, 2012.

Third Quarter Financial Summary

Note that as a private company, Plex Systems does not release dollar values for its revenue and profitability figures.

  • Total revenue for the quarter increased 33.1 percent.
  • The company added 12 new customers – 7 from automotive, 2 from aerospace and 3 from diversified industry group.
  • 26 employees joined the company, bringing the total to 249 by end of the third quarter, an increase of 66 since the beginning of the year.

“We are pleased with Plex Systems’ steady growth in the third quarter,” said Mark Symonds, Plex Systems president and CEO. “The manufacturing sector continues to grow, and we are seeing more companies adopting new technology solutions to be agile and efficient. As a leader in Cloud ERP, we continue to expand Plex Online’s capabilities to accommodate the growing needs of manufacturers.”

Third Quarter Highlights and Strategic Announcements

In the third quarter, Plex Systems:

  • Added Accuride Corporation (NYSE: ACW), a leading supplier of components to the North American commercial vehicle industry, to its customer base. Accuride selected Plex Online to consolidate seven separate systems running more than 200 applications to one ERP system. After the implementation, Accuride will centralize shared information, standardize systems and processes, enable secure remote access, and utilize robust data collection, reporting and other tools.
  • Partnered with Adaptive Planning, the worldwide leader in Cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, to enhance Plex Online customers’ budgeting, forecasting and reporting capabilities.
  • Promoted Chris Bishop to vice president of global services and support and Jason Prater to vice president of development. Previously, Bishop was the director of customer care and Prater was the director of development at Plex Systems.