Software specialist Bentley’s bullish growth

Construction software specialist 4019 Bentley Systems reports a strong financial performance with its latest annual results. The 2012 financial year has been healthy with regard to the firm’s global operations. The firm’s financial report reveals that revenues grew 5% to a record US$550 million on an historical GAAP basis; in constant currencies, GAAP revenues grew 8% and organic growth was 6%. The company claims user numbers of its software have also grown. The report states that applications use was logged by over one million users in 165 countries, and nearly two million users including Passports and iWare apps. Meanwhile subscriptions reached a record 74% of revenues. The company has benefited from its own research and development programme as well as its acquisitions. Investment in research and development and acquisitions was at a record level of nearly $200 million, bringing the total invested since 2005 to more than $1 billion.

Commenting on the 2012 Annual Report, CEO Greg Bentley said, “Our annual reporting to our user organisations this year goes beyond performance metrics. It also introduces groundbreaking Bentley innovations and initiatives that support our agenda for 2013 – Connecting Globally. Among them are new apps for mobile devices that empower users to secure information mobility on construction sites and field locations; new products and services for persistent point clouds across infrastructure lifecycles; new strategic alliances with major organizations, including 1134 Siemens, 2122 Trimble, and AASHTO, that will result in new connectivity among systems; and newly reprogrammed events for in-person global connections, including The Bentley LEARNing Conference for hands-on learning and The Year in Infrastructure 2013 Conference for thought leaders.”