Bengt Nilsson, president and CEO of IFS, commented, "We are pleased with the significant increase in license sales in the third quarter. Results for the third quarter are always considerably affected by vacation periods throughout Europe. However, the market is recovering strongly, particularly in the US. The positive consulting margins in September are evidence of better utilization of our consultants. With our consulting organization intact, we are well equipped to meet growing demand for IFS products and services. While we still aim to report a positive net earnings result for 2000, the late recovery of the market will make it difficult to achieve this goal. Our continued investment in product development has enabled us to remain in the forefront in terms of technology. An increase in sales of over 106% in the third quarter speaks for itself. IFS Applications 2001, our new product release that includes a wide array of e-business components, has met with an enthusiastic reception."
IFS was particularly pleased to announce strong momentum in the North American market with the last quarter producing the best performance to date in number and value of contracts in the United States. From July through September, the company closed deals valued at more than $20 million in products and services with 20 customers, predominately in the mid-sized manufacturing market segment.
IFS North America President and Chief Executive Officer Terje Vangbo commented, "This strong performance is further evidence that our component-based solution is gaining ever increasing acceptance among enterprises that need to evolve their operations one step at a time into e-business. With the North American market rebounding from the industry-wide slowdown of 1999, IFS is seeing not only an increase in the number of deals, but in the size of the deals as well. I believe IFS will continue to emerge as a business solutions leader in North America, particularly with the recent release of IFS Applications 2001 software. With its proven component technology, we expect IFS Applications 2001 to set the pace in the U.S. for e-business/supply chain integration. It will be difficult to match our solution with its integration capabilities, unlimited scalability, and new off-the-shelf e-business components."
IFS' newest U.S. customers represent a diverse range of industries, including plastics, automotive, fiber optics, civil aviation, electronic components, steel, and wood products.
IFS was particularly pleased to announce strong momentum in the North American market with the last quarter producing the best performance to date in number and value of contracts in the United States. From July through September, the company closed deals valued at more than $20 million in products and services with 20 customers, predominately in the mid-sized manufacturing market segment.
IFS North America President and Chief Executive Officer Terje Vangbo commented, "This strong performance is further evidence that our component-based solution is gaining ever increasing acceptance among enterprises that need to evolve their operations one step at a time into e-business. With the North American market rebounding from the industry-wide slowdown of 1999, IFS is seeing not only an increase in the number of deals, but in the size of the deals as well. I believe IFS will continue to emerge as a business solutions leader in North America, particularly with the recent release of IFS Applications 2001 software. With its proven component technology, we expect IFS Applications 2001 to set the pace in the U.S. for e-business/supply chain integration. It will be difficult to match our solution with its integration capabilities, unlimited scalability, and new off-the-shelf e-business components."
IFS' newest U.S. customers represent a diverse range of industries, including plastics, automotive, fiber optics, civil aviation, electronic components, steel, and wood products.
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