Bentley Publishes May 2010 Annual Report
At Be Together: The Be Communities LIVE Conference, Bentley Systems Inc., a company dedicated to providing software solutions for infrastructure, announced the availability of its May 2010 Annual Report at www.bentley.com/annualreport. The report emphasizes the company’s financial resilience, as 2009 revenues of more than $450 million represented subscription growth, average compounded annual growth of 10% over the past decade and gains in market share.
Bentley’s internally funded investment program continued, supplementing its 20% research and development funding commitment with strategic acquisitions. Major 2009 acquisitions included gINT, provider of geotechnical data management; BridgeMaster for bridge production in China; and 9SQ in Korea for specialized plant applications.
Subsequently, Bentley accelerated its AssetWise platform initiative for infrastructure operations through the major acquisitions of Exor, dealing with linear networked assets such as roadways, and eB, provider of configuration and records management of mission-critical operations such as nuclear plants. Since 1999 Bentley has invested more than $1 billion in research and development and acquisitions, while maintaining a conservative capital structure and minimal net debt.
The report highlights company achievements for the past year, including value-creative innovations in information modeling software, including V8i (SELECTseries 1) versions of MicroStation, ProjectWise and Navigator; OpenPlant products uniquely based on the ISO 15926 standard; breakthrough 3D GIS capabilities for intelligent city modeling; Bentley Substation V8i for comprehensive schematic and physical substation design; the Integrated Structural Modeling methodology; and the i-model, a container for open infrastructure information exchange.
“We and our users are collectively poised for a ‘triple play’ as we stand astride the intersection of the three imperatives I foresee driving global economic progress throughout this new decade: first, infrastructure offers compellingly superior returns on investment and opportunities abound, both in the developed world and emerging markets; second, international engagement is vital, and we and our users are mutually well qualified to lead and benefit from strategies for expanded free trade, maximizing our users’ ‘return on talent’ while improving lives everywhere; and third, innovation is inexhaustible--in the case of Bentley Systems, the innovation potential of our continuous stream of technologies is compounded when creative professionals and farsighted owners leverage these tools to improve the delivery and performance of infrastructure,” said CEO Greg Bentley.
Source: Bentley Systems Inc.