Gerber Scientific Reports 60 Percent Earnings Growth Driven by Product Innovation and Geographic Expansion
(TOLLAND, Conn., USA., 12 June, 2013) Gerber Scientific ended its fiscal year and its 65th year in business with 57 percent year-over-year earnings growth fueled by seven new product offerings, expansion of its four businesses into new geographies and the addition of nearly 900 new customers.
Mike Elia, who has been with the company for five years and was appointed president and CEO of Gerber Scientific in August of last year, said, “The financial progress we made this past fiscal year is exciting, but, what’s even more invigorating is our renewed focus on product innovation and the expansion of our customer base. Forty-five years ago, Gerber revolutionized the sewn products industry with the invention of the GERBERcutter and, given the research, design and engineering work taking place across the organization now, we’re poised to do it again.”
To support its financial growth and geographic expansion, Gerber invested heavily in new product development and infrastructure improvements including the upgrade of its SAP enterprise software. During the year, the company released seven new products that simplify the design, processing and handling of flexible and semi-rigid materials. Among these are:
- The Iris™ Spatial Positioning System, breakthrough technology for companies that manufacture heavy machinery like excavators and mining trucks; locomotives; ships and other large-scale products. Iris guides welders through the assembly process using lasers.
- A version release of AccuMark® , the industry’s leading pattern design, grading and marker making software for sewn products
- YuniquePLM™ 5.0, the award-winning product lifecycle management software that helps brand owners and retailers track all of the details involved in bringing a product to market, on time and at the right cost. YuniquePLM 5.0 delivers significant functionality enhancements and improved usability.
- The GERBERcutter® GT3000 computer-controlled cutting system for the corrugated and folding carton packaging industry.
- The latest Gerber OMEGA 5.0 graphic design and output software that enables graphics professionals to create advanced signage, labels, decals, dimensional routed products and other specialty graphics products.
Gerber Scientific is comprised of four businesses:
- Gerber Technology is a leading supplier of CAD software, automated material spreading systems and computer-controlled cutting systems for a multitude of industries ranging from apparel to aerospace that deal with flexible materials.
- Gerber Scientific Products provides sign shops and graphics professionals with computerized sign making and specialty graphics systems, software and printing materials.
- Virtek Vision International, is a leader in providing laser templating, quality inspection and spatial positioning technology for aerospace carbon fiber composite part assembly, welded assembly, sheet metal part fabrication and construction markets.
- Yunique Solutions offers product lifecycle management software and business solutions consulting services.
This past year, Gerber’s businesses expanded into new geographies and, in total, welcomed nearly 900 new customers. “Through the decades, many of the industries we serve have migrated into and out of different regions to follow their customers and optimize their supply chain,” said Elia. “And Gerber is always right around the corner to offer state-of-the-art automation solutions, vast process knowledge and decades of experience. For example, as the apparel industry migrated from North America, to Europe, Latin America and then to Asia, we’ve always been there to help designers and manufacturers transition from a manual to an automated operation and optimize productivity from the design room through the cutting room. This year, we’ve benefitted significantly from having local representation in regions where the industries we serve are less mature and where the need for software and hardware automation systems is high.”
In August 2011, Gerber Scientific was taken private by Vector Capital, a San Francisco-based, global private equity firm specializing in the technology sector that manages more than $2 billion of equity capital. Elia noted, “Since we were acquired by Vector, we have dramatically improved our financial performance. In fact, we have grown our earnings at a compounded annual rate of 97 percent since the acquisition on a 5 percent compounded annual growth rate in revenue. The acquisition has also enabled us to be faster and more agile, particularly in strategic planning and product development areas.”
About Gerber Scientific
Gerber Scientific, Inc. is a leading international supplier of sophisticated software and hardware systems for apparel and technical textiles, sign making and specialty graphics, composites and packaging applications. Headquartered in Tolland, Connecticut, USA, the company operates through four businesses: Gerber Technology, which serves 25,000 customers, including more than 100 Fortune 500 companies; Gerber Scientific Products, Virtek Vision International and Yunique Solutions.
Gerber Scientific is owned by Vector Capital, a San Francisco-based, global private equity firm specializing in the technology sector that manages more than $2 billion of equity capital.