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Exa Reports First Quarter Fiscal 2014 Financial Results

Exa® Corporation (Nasdaq:EXA), a global innovator of fluids simulation solutions for product engineering, today announced financial results for the first quarter of fiscal 2014, which ended April 30, 2013.

"Revenue in the first quarter was at the high end of our guidance, increasing 11%, or 14% on a constant currency basis, from a year ago," said Stephen Remondi, President and Chief Executive Officer of Exa. "With the return of customer spending materializing, we are beginning to see the results of investments that we made over the last several quarters in our field organization. We are particularly encouraged by the strong growth of 40% we saw in project revenue, which we regard as a leading indicator to future licensing activity. "