EDEN PRAIRIE, Minn., Nov. 6, 2014 — (PRNewswire) — MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and position sensors, today announced that it hosted an MTS Echo Intelligent Lab Workshop for select aerospace industry leaders. The workshop was held at the Tec^Edge Innovation and Collaboration Center near Wright-Patterson Air Force Base, Dayton, Ohio. The objective of the workshop was to identify how to best use today's ability to connect systems and data through technology to optimize lab management and increase productivity in aerospace test labs.
The aerospace industry is an innovation leader in the development of new materials as they create higher performance materials and structures to improve the energy-efficiency of their aircraft. As such, their input on what can make lab operations more efficient is very valuable. Dr. Bill Bachrach, SVP and General Manager of MTS Test and Sensors, confirms the importance of their perspective: "Accelerating product development is critical to aerospace customers as competitive pressures and customer demands mandate better solutions. Listening to these customers and providing relevant technology to accelerate their product development is essential to MTS. This workshop enabled us to deepen our knowledge about how these large aerospace manufacturers could use the MTS Echo Intelligent Lab to track test progress from multiple sources, including their suppliers, and thereby reduce product development time. It was inspiring and informative."
MTS Echo solutions were introduced in 2012 with the ability to remotely monitor test status from smartphones, laptops, or computers, giving engineers immediate access to test information from anywhere. Subsequently, MTS has added several new capabilities to the MTS Echo suite of offerings, such as test equipment health monitoring to view equipment performance trends and detect potential issues long before they negatively impact productivity, and test tracking which automatically alerts stakeholders of test completion, saving lab personnel time in tracking and reporting test status.
Dr. Jeffrey Graves, MTS President and Chief Executive Officer, opened the MTS Echo Intelligent Lab Workshop and shared the vision. "With MTS Echo Intelligent Lab, customers have immediate access to critical information, allowing them to manage lab resources more efficiently, accelerate testing and make better product development decisions. In the case of these prestigious aerospace manufacturers, our technology will help them create new energy-efficient aircraft at a faster pace. Partnering and sharing ideas with customers in these types of workshops allows MTS to stay at the forefront of innovation and provide the solutions that have the greatest impact in the test lab, the resulting products, and the world."
About MTS Systems Corporation
MTS Systems Corporation's testing hardware, software and services solutions help customers accelerate and improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures. MTS' high-performance position sensors provide controls for a variety of industrial and vehicular applications. MTS had 2,299 employees at September 28, 2013 and revenue of $569 million for the fiscal year ended September 28, 2013. Additional information on MTS can be found at http://www.mts.com.
This release contains "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions identify forward-looking statements in the release.
Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to: government contracting; the Company's significant international business including but not limited to currency value fluctuations, difficulty enforcing agreements and collecting receivables, import and export matters, higher danger of terrorist activity, difficulty in staffing and compliance with laws; volatility in the global economy; competition; failure to achieve the Company's growth plans for the expansion of its business because the Company's long-term success depends on its ability to expand its business through new product development, mergers and acquisitions, geographic expansion and service offerings, all of which are subject to inherent risks including but not limited to market demand, market acceptance of products and the ability to advance technology; costs related to development and manufacture of first-of-its-kind products; difficulties obtaining the services of skilled employees; the implementation of business process changes and associated restructuring of the Test business; failure to protect its intellectual property effectively or infringement upon the intellectual property of others; product liability claims and commercial litigation; difficulty obtaining materials or components for its products; government regulation; the irregularity and development of sales, delivery and acceptance cycle for the Company's products; the Company's customers are in cyclical industries; interest rate fluctuations; the Company may be required to recognize impairment charges for long-lived assets; and cost, reputational and other risks associated with disclosing use of conflict minerals. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in the Company's most recent SEC Form 10-K, 10-Q and 8-K filings. Except as required by law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE MTS Systems Corporation
|MTS Systems Corporation
Susan Knight, Chief Financial Officer, 952.937.4000