Q2 2003 Revenues Represent Over 30% Increase As Compared To Q2 2002
"Given the economic environment, we are especially proud of our Q2 results including sales, operational expenditures, cashburn and cash remaining. Framework's continued growth results from helping existing and new customers address additional challenges and real, critical pain points with an expanded, cost effective and easy-to-use solution," said Donald Tomkinson, president and CEO of Framework Technologies. "As we look ahead, we're confident that recently announced offerings will satisfy existing customers and attract new customers through the solution's ability to help companies better select and manage projects. The expanded solution suite is now comprised of 8 modules, compared to 2 modules just a year ago, and will be a key factor in helping us to accelerate sales."
Framework's growth during Q2 was achieved through a virtually even split between new customer acquisitions and major expansions with existing customers. The company saw growth in both its manufacturing segments, particularly automotive and pharmaceutical, and its architecture/engineering/construction (AEC) segment. This growth was fueled by Framework's customer-centric approach, which permeates all company and team activities, and ensures that Framework is carefully attuned to customers' key concerns.
During Q2, Framework announced its Project Execution Template suite, a series of templates with content specific to various industries such as those involving consumer products, industrial products, tier one and tier two automotive suppliers, pharmaceutical and architecture/engineering/construction (AEC). By offering industry-specific content, the Templates enable customers to accelerate solution deployment and expand adoption with a proven solution. The Templates feature an online workspace structure with customized tabs, icons and terminology for each market that synchronizes cross-functional teams and guides them during process and project execution.
In other developments during Q2, Framework announced the establishment of Customer Advisory Councils for its manufacturing and AEC customers. The councils will help Framework synchronize its solution strategy with customers' key business objectives and challenges. The company also announced a partnership with Integral, Inc., the management consulting subsidiary of Analysis Group, Inc. Through this partnership, Framework will provide advanced portfolio planning analytics to customers from Integral's extensive work in planning companies' product portfolios. In turn, Integral will use Framework's ActivePortfolio(TM) portfolio management software to quickly and easily automate analysis activities during consulting engagements so consultants can focus more time on counseling clients.
About Framework Technologies
Framework Technologies is a leader in project execution decision support software, helping companies in the manufacturing and architecture, engineering and construction (AEC) markets focus on the key projects paramount to achieving growth objectives. ActiveProduct(TM), Framework's solution for the manufacturing industry, focuses on the early phase of the product lifecycle, from ideation to market introduction, and helps Fortune 1000 manufacturers like Moen, INTERMET, Borg Warner and Timex introduce the right products at the right time and at the right cost. Framework's offering for the AEC industry, ActiveAEC(TM), is a powerful solution that allows companies such as Best Buy, KeySpan Services, MACTEC and Modern Continental to successfully manage AEC projects that will drive improved operational efficiency and company profitability. For further details please visit http://www.frametech.com/.
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Web site: http://www.frametech.com/