think3 Continues Sales Momentum

Danone Vitapole, IMA Group, Universe Corporation and USFilter Among Growing List of Customers Worldwide

PLEASANTON, California - 18 November 2002 - /PRNewswire/ -- think3, Inc. today announced continued growth and sales momentum in the first three quarters of fiscal year 2002. During this period, think3 grew revenue by 50% over a comparable period the previous year, and further validated market acceptance for its subscription model, increasing the total number of 3D licenses by 40%. Currently, think3 boasts more than 12,000 subscribers worldwide. (Note: In a separate announcement today, think3 announced the formation of a new global consulting organization to help companies optimize their product development process throughout their extended enterprises (see "think3 Introduces New Worldwide Professional Services Organization."))

think3's sales momentum underscores strong market demand for cost effective and integrated MCAD and PDM solutions that address the specific requirements of industrial machinery and industrial design companies.

According to market research firm Daratech, Inc. of Cambridge, Mass., the continued economic downturn has led to a dramatic slowdown in CAD software sales throughout the industry. Despite this environment, think3 reports significant relative revenue growth in the first nine months of 2002, exceeding numbers reported by other vendors in the space, including Dassault Systemes, SolidWorks, Autodesk, EDS PLM Solutions and PTC. During the three-quarter period, think3's revenue grew sequentially by 62% (Q1), 42% (Q2) and 49% (Q3).

"In difficult economic times, customers demand solutions that deliver strong ROI quickly with minimal upfront cost, and this plays extremely well to think3's strengths," said Joe Costello, think3's chairman and CEO. "think3 removes all the barriers to 3D adoption, including price, training and legacy 2D files. This strength, coupled with our ability to effectively manage and propagate engineering product information throughout the extended enterprise, form the foundation of our strong momentum."

During the first three quarters of 2002, 650 customers purchased new licenses of think3's products. New U.S. customer wins include market leaders Universe Corporation and USFilter, while new international users include Danone Vitapole, Della Toffola, Gamma Meccanica, G.D, iGuzzini, IMA Group, IMP.A.C, KNAUS TABBERT GROUP, MA-MECC, MBF, Phoenix Group, S. A.M.M.A. and SEMATIC ITALIA.

"Prior to working with think3, we made a significant investment in Pro/ENGINEER with the goal of improving our design methodology. But after two years, we felt that the implementation of Pro/Engineer would have been extremely difficult to sustain across the entire company with a reasonable ROI," said Mr. Fe, president of Phoenix Group, a leading manufacturer of dies and equipment for aluminum extrusion.

"As a result, we've replaced 30 seats of Pro/ENGINEER with 60 seats of thinkdesign. What is more surprising to us is that we've successfully implemented the installation with only 14 days of training and consulting from think3. think3 was reviewed against several CAD vendors and was ultimately selected over EDS' Solid Edge because of its ability to streamline the design process and dramatically shorten product development and customization cycles," added Mr. Fe.

"CAD and PDM software are key technologies that influence the success of our business, and our investment in think3's products represent an important strategic decision for the IMA Group," Alberto Vacchi, CEO of IMA Group, the world's leading manufacturer of packaging machinery for the tea, pharmaceutical and cosmetics industries. "We are eager to experience and verify all the advantages that we expect with the implementation of this technology."

About think3, Inc.

think3 is a global provider of integrated product development solutions. The company delivers 3D design and product data management software combined with focused services to help manufacturers cost-effectively optimize their product development process. think3's more than 5,000 customers include leading companies in industrial machinery, industrial design and mold making. Privately held, think3 is a global organization headquartered in California with offices throughout Europe, Asia and North America. 

http://www.think3.com 

 

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