Altair Says Revenue To Top $200M, Names New Staff

TROY -- Altair Engineering Inc. announced Wednesday that its 2011 revenue is "solidly on track" to exceed $200 mllion, up more than 20 percent from 2010.

Altair says it is now the world's largest privately held computer-aided engineering software development company.

Furthermore, Altair announced that its growing momentum will be guided by an expanded executive leadership team, extending its technical and financial strength through the appointments of Tom Perring, Norma Jean Zaleski and Martin Nichols to key executive leadership positions. Zaleski has been appointed CFO, Nichols has been named CIO, and Perring was promoted to chief administrative officer.

Previously Altair's CFO, Perring has assumed responsibility for legal oversight, IT systems, purchasing, administration and facilities in his newly established role as chief administrative officer. His leadership helped position Altair as one of the U.S.'s most fiscally sound private corporations. Perring joined Altair in 1993 and has since served as director of finance, chief financial officer and chief operating officer. He previously worked for 15 years managing large-scale software development projects at Chrysler Corp. and Cimlinc, Inc.

As CFO, Zaleski is responsible for Altair's global corporate financial reporting and overall financial strategy. She was previously Altair's director of accounting and financial reporting. Prior to joining the company, Zaleski held several senior finance positions for such corporations as Acument (formerly Textron Fastening Systems) and Honeywell, including vice president of finance for the Americas and Asian operations of Honeywell Friction Materials, and director of global financial planning and analysis. She began her career as a CPA and held various positions in this regard at PricewaterhouseCoopers, where she focused on mergers and acquisitions advisory and assurance services.

As CIO, Nichols oversees Altair's enterprise business systems, technology partnerships and programs, and corporate human resources. He was previously Altair's executive vice president of global alliances and operations. His role included oversight of Altair's partnering and alliance activities, as well as sales operations. Since joining Altair in 1992, Nichols' accomplishments include opening and managing Altair's U.K. operation as well as directly managing the Altair China operation in Shanghai. He also spearheaded the establishment of Altair's operations, business presence and distribution channels in several other major global markets, including Spain, France, India and Brazil.

The newly named officers will build on Altair's consistent record of compound annual growth exceeding 20 percent throughout its 26-year history. During 2011, Altair's success has been reflected in its rapidly escalating work for companies in the automotive and aerospace sectors. Today, Altair operates from offices in 16 countries, including new locations in Madrid and Quebec, and it now serves more than 4,000 customers worldwide.

"Altair's momentum during this dynamic period in CAE and challenging manufacturing climate validates the high value that customers find in our technology, consulting services and full-circle approach to product development," said Jim Scapa, chairman and CEO of Altair Engineering. "As organizations accelerate the role and significance of simulation in their global design, engineering and manufacturing strategies, we expect that Altair will continue to play a vital role in enabling and strengthening their innovation."

For more insight into Altair's approach to innovation, and to discuss today's trends, challenges and technological advances in simulation, automotive, aerospace and green technology, visit the Altair blog at http://www.simulatetoinnovate.com/.

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