CHICAGO. At its annual user group meeting here this week, TMW Systems reported third-quarter results that “once again exceed company goals,” according to David Wangler, TMW Systems president & CEO.
Wangler said third-quarter GAAP revenues for the combined TMW and Maddocks entities were $11.3 million, a 27% increase compared to the same quarter last year. He said the company continued to outperform its competitors, telling FleetOwner, “We can proclaim our position as the leading provider of enterprise management software for the trucking industry.”
He said that while TMW’s “financial reports are interesting, our most significant accomplishment this quarter was the ability to sell and service our customers while we completed the acquisition [of Maddocks] and executed on our integration strategy."
"Our staff didn't skip a beat. In fact, we implemented 37 new TMWSuite and Maddocks TruckMate customers and finished the last month of the quarter with record new license bookings,” he continued. Wangler noted that in the third quarter, TMW also launched several new products for TMWSuite and TL2000 as well as four new products for Maddocks TruckMate, which were unveiled to customers at the TruckMate user conference last month.
According to Wangler, TMW Systems now “offers trucking companies of all sizes, operating in every segment, access to the industry's broadest set of business solutions” via its three enterprise-management product lines: TMWSuite for Windows; Maddocks TruckMate for Windows; and TL2000 for the IBM iSeries platform. He stated that TMW currently serves nearly 1,000 customers managing over 175,000 trucks worldwide through its offices in Cleveland, OH, Vancouver, BC, and Indianapolis, IN.
Wangler said the objective of the recent Maddocks acquisition was “to create a new TMW that is ‘taller and wider.’ ‘Taller’ meaning [there’s] an opportunity to create bundled, targeted solutions for smaller fleets as well as the scale to win the business from larger companies. ‘Wider’ meaning [there’s] the ability to enhance our offerings for the LTL and Intermodal verticals.”
He declared that there is “enormous opportunity” for enterprise software providers to trucking, pointing out “a full 40% of the companies in the 50 to 100 [truck] segment are still manual or using home-brewed software. I don't have enough data on the market below 50 power units, but I'm confident the trend line extrapolates. At the top of the market lies even more opportunity.”
Wangler added that he sees the overall opportunity for TMW as “large enough to drive us to continue to invest to grow.”
For more information, go to www.tmwsystems.com or call 800-401-6682.
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