Friday, May 29, 2015

Bentley Systems' revenue up 5 pct. to $550 million in 2012

The privately held software developer said the Middle East and Africa were the fastest-growing regions for its infrastructure products and services last year.

Bentley Systems' revenue up 5 pct. to $550 million in 2012

Bentley Systems Inc., an Exton software developer focused on roads, bridges and other infrastructure projects, said revenues increased 5 percent to $550 million in 2012 from $523 million in 2011.

Chief executive Greg Bentley -- who described Bentley Systems as a “no drama company” on a conference call -- said the Middle East and Africa were its fastest-growing regions last year.

“We continue to be a motivated number-two” competitor to Autodesk Inc.’s Architecture, Engineering & Construction software business, he said.

Based on recent software subscription trends, Greg Bentley forecast the company could produce 7 percent organic revenue growth in 2013.

Founded in 1984, Bentley Systems provides software and services used by architects, engineers and construction firms on infrastructure projects throughout the world. The company acquired four companies during 2012, including Ivara Corp., of Ontario, Canada, and InspectTech Systems Inc., of Pittsburgh.

Bentley Systems, which is 98 percent owned by the founding Bentley brothers and its more than 3,000 employees, generated operating cash flow of more than $100 million last year, according to its annual report released Wednesday.

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