SANTA BARBARA, Calif. — November 6, 2014 — QAD Inc. (NASDAQ:QADA) (NASDAQ:QADB), a leading provider of enterprise software and services, is pleased to share the success of its longstanding relationship with Lear Corporation, a leading global supplier of automotive seating and electrical distribution systems. As a company, Lear has grown almost 13% in revenue from 2009 to 2013 and has become the 10th largest automotive parts supplier in the world based on revenue. Deploying QAD solutions has helped the company realize tremendous progress in achieving this goal and making global production more efficient.
Lear Corporation first implemented QAD software in 1994 and has expanded to include 100 global locations across 30 countries using QAD solutions. In its twentieth year of partnering with QAD, Lear Corporation remains committed to staying current with QAD Enterprise Applications.
As a large manufacturer with business divisions spanning all continents, one of Lear Corporation’s key challenges is to standardize its lean manufacturing model. Lear Corporation implemented QAD Enterprise Applications to standardize processes and ensure its global supply chains operate at maximum efficiency.
“We want to be quick, on time, right the first time and right every time,” said Rob Rinnan, Vice President of IT for Lear Corporation. “Our partnership with QAD has helped us realize huge efficiencies in our manufacturing across our global locations.”
“We designed QAD Enterprise Applications to help manufacturers achieve the highest levels of efficiencies and become Effective Enterprises,” said Allen Patrick, Vice President, Automotive Global Strategic Accounts, QAD. “We are extremely pleased to see the results from Lear Corporation validating the benefits of our product for global manufacturers. We will continue providing solutions that can assist Lear Corporation and our other customers achieve their manufacturing goals.“
About Lear Corporation
Lear Corporation is one of the world's leading suppliers of automotive seating and electrical distribution systems. The company's world-class products are designed, engineered and manufactured by a diverse team of approximately 125,000 employees located in 36 countries. Lear's headquarters are in Southfield, Michigan, and Lear is traded on the New York Stock Exchange under the symbol [LEA]. Further information about Lear is available at www.lear.com.
About QAD – The Effective Enterprise
QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB) is a leading provider of enterprise software and services designed for global manufacturing companies. For more than 30 years, QAD has provided global manufacturing companies with QAD Enterprise Applications, an enterprise resource planning (ERP) system that supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management. QAD Enterprise Applications is offered in flexible deployment models as on-premise software, in the cloud with QAD Cloud ERP or in a blended environment. With QAD, customers and partners in the automotive, consumer products, food and beverage, high technology, industrial products and life sciences industries can better align daily operations with their strategic goals to meet their vision of becoming more Effective Enterprises.
For more information about QAD, call +1 805-566-6000, visit www.qad.com.
“QAD” is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
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Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the Company’s business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company’s current expectations. Words such as “expects”, “believes”, “anticipates”, “could”, “will likely result”, “estimates”, “intends”, “may”, “projects”, “should”, “would”, “might”, “plan” and variations of these words and similar expressions are intended to identify these forward looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: evolving demand for the company's products and companion products; the ability to sustain license and service demand; fluctuation in revenue and earnings in the software industry; the ability to leverage changes in technology; the ability to sustain customer renewal rates at current levels; third party opinions about the company; the reliability of estimates of transaction and integration costs and benefits; competition in our industry; delays in localizing the company's products for new or existing markets; the ability to recruit and retain key personnel; delays in sales; changes in operating expenses, pricing, timing of new product releases, the method of product distribution or product mix; timely and effective integration of newly acquired businesses; general economic conditions; exchange rate fluctuations; and, the global political environment. For a more detailed description of the risk factors associated with the company, please refer to the company's latest Annual Report on Form 10-K, and in particular, the section entitled “Risk Factors” therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.