Mar 3, 2011

aPriori Completes the Most Successful Quarter in Company History

Concord, Mass – aPriori announced today that it has recently completed the most successful financial quarter in the young company’s history. aPriori provides discrete manufacturers and product innovation companies with the most technologically advanced and comprehensive product cost management software and service solutions available on the market today. These software and services solutions fundamentally change the way companies calculate and manage product costs, enabling more informed design, manufacturing and sourcing decisions that drive significant cost out of products, both pre- and post-production.

“Historically, our fiscal third quarter can be challenging because of the end of year holidays,” said Stephanie Feraday, aPriori’s President and Chief Executive Officer. “However, over the past 3 months, we set all types of new benchmarks for our company’s performance. There are 3 key metrics that we are particularly proud of this quarter, including:

* Total Bookings increased by 208% over Q3 fiscal year 2010; and, total bookings increased quarter over quarter by 108%,
* Customer base increased by more than 21%,
* Secured several large, multi-year subscription renewal and expansion contracts. ”

New Customer Growth

“The strong growth in new customers is very satisfying” explained Feraday. “Each of the new customers signed in Q3 represents penetration or early stage growth in new industry verticals outside our traditional agriculture and construction equipment stronghold. BISSELL for example, is one of the world’s top manufacturers of household vacuum cleaners. Nearly everything they sell is made up entirely of plastic. This is a great new customer for us, and validates our ability to generate accurate costs for products made using plastic molding manufacturing processes.”

Customer Expansion

“We are also quite pleased with the multi-year renewal and expansion contracts, with Polaris being the most notable,” added Dick Underwood, Vice President of Sales for aPriori. “When a customer initially buys your product, they test it on a variety of projects over an extended period of time, using personnel with different levels of cost knowledge. If they then come back and want to dramatically expand the number of users, and extend the contract for 3 to 4 years, that is concrete evidence that the product delivers as promised, and is driving great ROI for that customer.”

Enterprise Cost Management Platform versus Point Solution

“One of the reasons for aPriori’s recent success has been our enterprise platform approach”, said Underwood. “As aPriori has dramatically accelerated the expansion of its product line, it has truly become an enterprise class product cost management platform that spans multiple departments and use cases. Unlike other commercial software applications that are designed only for use by professional cost estimators, aPriori can be used across the entire product innovation, detail design, sourcing and manufacturing spectrum.

While aPriori is certainly powerful enough to be used by the most sophisticated cost engineers, the system has been purposefully developed so that it is highly automated, and can also be used by a novice engineer right out of college or a supply chain specialist that is a trained negotiator, not a product development specialist. This broad-based appeal is why we believe aPriori will continue to see success across a wide range of discrete manufacturing markets.”nessier