Despite economic slowdown, Wasp abuzz with increased revenue, profits - May 01, 2008
Slower U.S. business growth prompts Wasp’s small business customers to seek out productivity solutions, driving the company’s sales
PLANO, Texas – Even as the economy slowed overall, Wasp Barcode Technologies continued its steady financial growth in the first quarter with revenue increases of 10 percent and earnings up 43 percent over the first quarter of 2007. Sales showed continued strength across all of the company’s product lines and geographic regions.
In fact, Wasp executives see the economic downturn as an opportunity for growth and expect continued strength in the company’s sales for the coming quarter.
“When the economy slows, small businesses place a renewed focus on finding ways to operate more efficiently,” said Grant Wickes, vice president of marketing for Wasp Barcode Technologies. “Our products help these companies improve productivity, so they can accomplish more without having to make large capital outlays.”
During the first quarter, Wasp achieved Gold Developer status with Intuit for its WaspTime time and attendance solution. WaspTime has been documented to create dramatic productivity gains for several Wasp customers, with payback in as little as one month. Also, Wasp established a new partnership with Health Care Logistics (HCL), giving the company inroads into the healthcare industry. In this innovative partnership, Wasp created a unit dose barcode labeling product sold exclusively through HCL, leveraging its healthcare knowledge and sales expertise.
“We will continue to expand our marketing efforts and look to cement new business relationships that open the doors to untapped sales channels, industries and opportunities for growth in the coming months,” Wickes said. “Wasp has a strong brand for small business productivity. In today’s uncertain economic times, we are expanding our marketing efforts to reach the millions of business owners that can truly benefit from our solutions.”
About Wasp Barcode Technologies
Wasp Barcode Technologies provides data capture and tracking solutions designed specifically for small business. Products include inventory control, asset tracking, time and attendance, barcode scanners, barcode printers, and point of sale (POS) solutions. Wasp products help small business owners manage their companies more efficiently with improved productivity and profitability. Learn more at http://www.waspbarcode.com or call 866-547-WASP (9277).
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