AWR Announces Record Sales and Profits for First Half of Fiscal Year
Strong Financial Performance Attributed to Commitment to Innovation
EL SEGUNDO, Calif. - October 15, 2007 - Applied Wave Research, Inc. (AWR®), the innovation leader in RF electronic design automation (EDA), today announced record sales and profits for the first half of its fiscal year, which ended September 30, 2007. Sales revenues for the first six months increased nearly 30% over the prior year, and more importantly, resulted in record profits for the fiscal second quarter (Q2). Achievements driving AWR’s strong performance include consistent growth across all products lines, and the addition of strategic new customer accounts, primarily in the Asia Pacific region. Significant AWR customers include Alcatel-Lucent, LG Electronics, and Flextronics.
“Sales in all geographical regions—North America, Europe, and Asia—are well ahead of expectations, with China and Germany experiencing the fastest growth,” said Ted Miracco, co-founder and executive vice president of AWR. “All market sectors, including wireless, semiconductor, and defense electronics, showed strong and consistent growth, attesting to the depth and breadth of our RF and microwave software offerings.”
The company attributes its robust financial performance not only to its founding principles of openness and interoperability, but also to its commitment to innovate new technologies in order to help customers meet the growing challenges of increasingly complex RF and microwave design. In the past 12 months alone, AWR has introduced three groundbreaking new technologies, the ACE™, RFA™, and AXIEM™ tools, which enable faster product development and significant cost benefits to the customer.
“To be halfway through the fiscal year and ahead on all of our financial goals and corporate objectives is wonderful news,” said Dane Collins, CEO of AWR. “Our third quarter is already off to a healthy start and business forecasts are very positive as customers respond favorably to our new innovations and product releases."