Burlington, MA February 7, 2003 Framework Technologies, a decision support software provider, announced that its first fiscal quarter of 2003, ending on December 31, 2002, was the most profitable first quarter in the company's history. Framework grew 17 percent over last quarter, and grew nearly 45 percent when compared to Q1 2002. In addition to its Q1 success, the company marked four straight quarters of increased sales with a compound average of 18 plus percent quarter on quarter growth.
"We either met or exceeded all of our financial goals for Q1, including sales, operational expenditures, cash burn and cash remaining," said Donald Tomkinson, president and CEO of Framework Technologies. "As we look ahead to 2003, we're confident that we'll continue to accelerate sales by remaining nimble and responsive to our customers' needs and concerns."
Framework said it largely attributes its healthy Q1 to products added to the ActiveProduct and ActiveAEC solution suites. ActiveProduct is for manufacturers interested in increasing success of new and existing products, and ActiveAEC is for architecture, engineering and construction (AEC) companies focused on increasing the success of their construction, facilities and consulting projects.
In addition, Framework released ActiveView, a team collaboration module for heavy users of various computer-aided design applications.
A combination of new and existing customers also resulted in Framework's growth during Q1, according to the provider. In terms of new customers, Framework saw the adoption of its solution by several companies including its largest deal yet with a pharmaceutical customer.