Group Logic Experiences 200% Revenue Growth in 2000
Wednesday, January 17, 2001
Arlington, VA —Group Logic, the leading vendor of network workflow software and services to the print media industry, announced today that it achieved record revenues and continued profitability in 2000, as the corporation continued its successful strategy of using high-speed network technology to improve the productivity of print media purchasers and suppliers. The privately held company’s annual revenues in its core print media market increased over 200% from 1999, and it enjoyed its third consecutive year of profitability. Group Logic now has over 1,000 customers, including 24 of North America’s 100 largest printers, as well as leading publishers, prepress companies, and advertising and design firms. Leveraging its success in North America, the company also expanded its market reach to include Europe and Australia in the second half of the year, with promising early sales performance. "Group Logic’s sound performance in 2000 was unusual among information technology companies," said Reid Lewis, President and a founder of Group Logic. "We’ve remained strong by drawing on our dual expertise in print production and high-speed telecommunications to strategically automate the core procedures of the stable, vital print media industry." Other highlights of the company’s performance in 2000 included: Quebecor World and Wallace Computer Services adopted Group Logic’s flagship product, MassTransit, which is now installed at four of the top 10 printers in North America. ImageX.com, the technology market leader in Web-enabled design and printing services, also adopted MassTransit. Convoq, an application service provider (ASP) targeting the print media industry, adopted Group Logic technologies for its TeamProof and TransferManager usage-based services. Prepress and production systems vendor Barco Graphics signed an agreement to bundle Group Logic’s ExtremeZ-IP software with Barco’s products. "Group Logic’s dramatic growth in 2000 confirms the close alignment between our corporate direction and the needs of our target market," noted Andy Lewis, Vice President of Marketing and Sales and a founder of Group Logic. "The business of producing packaging and printed communications media continues to thrive in the digital age. We work closely with many of the leaders in this industry to understand how file sharing and transfer workflows can contribute to their overall success; then we leverage our world-class engineering and product management teams to deliver software that streamlines and enhances those mission-critical processes. As a result, our customers achieve higher productivity, lower operational costs, and improved service to their customers." To maintain its high customer satisfaction ratings while increasing its customer population, Group Logic expanded its technical support, sales, marketing, and administrative staff, necessitating a move to larger corporate headquarters in Arlington, VA.