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Camstar Exceeds Revenue Goals for 2000
CAMPBELL, Calif. — 13 February 2001 — Camstar Systems, Inc., a leading provider of e-manufacturing solutions, today announced nearly 70 percent revenue growth for its InSiteTM product, marking another profitable year and surpassing revenue goals for the year 2000.As previously announced, Camstar secured $22 million in venture funding during the fourth quarter to expand its dominance in the market for software that links customer orders to real-time manufacturing information across global supply chain networks. HarbourVest Partners LLC led the investment with Glenmount International and Dominion Ventures participating. Success in optoelectronics and industrial markets also helped Camstar make The San Jose Business Journal's prestigious "Fastest-Growing 100 Private Companies in Silicon Valley" list this year for the second time.
"Camstar continues to achieve its revenue goals by anticipating the changing needs of the manufacturing supply chain and delivering the most comprehensive e-manufacturing software to satisfy those needs," said Dave Cone, president and CEO of Camstar. "We look forward to continued growth as we intensify our push into global markets. Additionally, our sales teams are structured to aggressively pursue strategic vertical markets."
"Camstar's e-manufacturing value proposition is tremendous," said Rob Wadsworth, a HarbourVest Partners managing director. "Camstar shares some common characteristics with other successful companies in our portfolio: a proven product, blue-chip customers with global implementations and leadership in a high-growth market."
Camstar signed more than 20 new InSite customers overall in 2000, including 15 customers from the telecommunications equipment industry. With key wins in all optical networking segments, Camstar is laying the groundwork for supply chain collaboration within the optical networking supply chain. In addition, Camstar's ability to support enterprise-wide, multi-process, and multi-site operations for global manufacturing remains unsurpassed.
"We are pleased with Camstar's evolving blend of blue-chip and high-growth customers," remarked Rob Wadsworth, managing director for HarbourVest Partners. "Camstar's acknowledged leadership in bellwether businesses like optical networking suggests that Camstar's dominance will continue to ripple across other industries as the trend toward make-to-order and distributed manufacturing deepens."
Rounding out Camstar's customer list is a diverse group of industry leaders, including IBM, JDS Uniphase, Kodak, Lexmark, Tellabs and Unifi. In 2000, Camstar added significant wins to this group, including Agilent, from the medical industry; Alcan Aluminum, ALZ Steel and Corus L.P. (formerly Reycan L.P.), from the metals industry; and General Semiconductor, from the semiconductor industry.
Other highlights for the year 2000 include:
- Being named the "de facto standard" for optoelectronics by AMR Research for winning 15 new customers this year across all segments of the optical network. For example, in optical materials, a global license with Corning, a $7 billion optical materials manufacturer; in optical components, Axsun Technologies, E-TEK (now owned by JDS Uniphase), Bandwidth9, Lightwave Microsystems and New Focus; in optical systems houses, YAFO Networks and Nortel, the world's largest optical systems house;
- Partnering with industry-leading solution, service and channel partners, including JD Edwards, Oracle and ThIS Automation;
- Partnering with systems integrators AnswerThink, Compaq, Interwave, KEOPS, Red Oak, Unifi Technology, Verid and an undisclosed Big 5 consulting firm to build collaborative manufacturing systems;
- Launching version 2.0 of InSite, which adds functionality for centralized system management of distributed, multi-site operations, plus a Web-enabled interface that collaborates real-time manufacturing information throughout the enterprise and the supply chain via standard Web browsers on workstations, PCs, thin clients and PDAs;
- Uniting with Compaq to develop TAP Suite, for Semiconductor Test, Assembly and Packaging; TAP Suite provides a means for paperless operation, offers wireless technologies for input/output convenience, and allows manufacturing data to be shared over the Internet
- Growing Camstar's multinational customer base. InSite now manages multi-plant operations in Australia, Canada, China, Europe and Latin America.
Camstar is the leading provider of e-manufacturing solutions for Fortune 1000 corporations. By linking customer orders to real-time production information, Camstar enables manufacturers to execute e-business strategies across global supply chain networks. Camstar's InSite solution is designed for the most demanding manufacturing environments, offering a common, flexible, Internet-based platform for managing customer orders across multiple plants and processes. Manufacturers use InSite to speed the production of customized products and provide stakeholders throughout the supply chain with up-to-the-second information and order status.
With over 15 years of proven manufacturing and MES experience, Camstar is the choice of industry leaders such as Alcan Aluminum, IBM, JDS Uniphase, Lexmark and Tellabs - companies that rely on Camstar's combination of plant floor expertise and leading edge technology to drive their e-manufacturing strategies. Camstar Systems, Inc. is located at 900 E. Hamilton Ave., Suite 400, Campbell, CA 95008, (408) 559-5700, Fax: (408) 558-9350, http://www.camstar.com/.