Quintiq, a provider of Advanced Planning and Scheduling (APS) solutions, announced it grew by 35% in 2008, its 11th consecutive year of profitability.

Quintiq recorded revenues of €30 million ($38.67 million) for 2008. Despite the economic downturn, in the fourth quarter of 2008 Quintiq saw record new license revenues.

With business-to-business software sales traditionally clustered in the latter part of the year, the onset of the crisis during the peak sales season had been expected to have a sharper negative effect on overall revenues and growth, said Quintiq.

“Many of the companies that purchased Quintiq software in Q4 were facing and continue to face extremely tough markets,” said Dr. Victor Allis, CEO of Quintiq. “That they see Quintiq as a way to survive and even thrive in the new harder economic environment bodes well for us in 2009, despite the worsening worldwide situation.”

Quintiq expanded sales to a wide range of industries in 2008, strengthening its position significantly in steel, transportation logistics, mining, container terminals, parcel and express and broadcasting. It has customers throughout the world in all six continents.

Many companies that had in previous years selected Quintiq for scheduling purchased Quintiq Company Planner and Macro Planner solutions during 2008. Quintiq also added a large number of new companies to its client roster, many of them leaders in their fields.

According to the company, in 2008, Quintiq invested heavily in adding employees to its R&D and global development center, the latter grew from 30 to60 employees, allowing Quintiq to ensure that it spends more than 20% of its time on product improvement. In addition, Quintiq opened sales offices in three locations in the Asia Pacific region: Shanghai (China), Melbourne (Australia) and Kuala Lumpur (Malaysia).

“Given the current economic volatility, we are realistic that it is too soon to predict how this year will turn out,” says Dr. Allis. “Nevertheless, since Quintiq begins this year with a healthy sales pipeline and we had such encouraging results in the last part of 2008, we remain optimistic, albeit cautiously, for 2009.”