The maker of 3D scan-to-CAD technology expects “accelerating growth” in 2011.
INUS Technology, Inc., better known by its Rapidform brand name, says worldwide revenue for the first quarter of 2011 was up 38% from the same period in 2010. The privately held company, based in Seoul, South Korea, is not required to provide comprehensive quarterly or annual reports they way public firms do. It is not uncommon for private firms, when doing well, to release selected financial performance data.
INUS says 2010 was the best sales year ever in their 13-year history, but it expects 2011 to show “accelerating growth,” as its products become more popular among manufacturers, research institutions and universities.
INUS sales growth in Q1 2011 was international in scope. The company says Japan broke all previous sales records, despite the economic effects of the tsunami late in the quarter.
The company’s line of Rapidform software products works in conjunction with 3D scanners from every major manufacturer. Rapidform XOR software is used to make CAD models from 3D scan data, while Rapidform XOS software is focused on creating high quality mesh and surface models from 3D scans. Rapidform XOV and InspectWorks allow companies to take a 3D scan of any object and compare it to a CAD design for verification purposes.
Leading companies on their client list include Audi, Ford, Hyundai, Toyota, Rolls Royce, Volkswagen, Hitachi, Panasonic, Oakley, Samsung, Sony, and Alcoa.