LitePoint Announces Record Annual Revenues for Fiscal Year 2010
SUNNYVALE, Calif., Feb. 7, 2011 /PRNewswire/ — LitePoint Corporation, a leader in wireless test solutions, today announced that it has achieved record annual revenues for fiscal year end 2010; results more than double its revenues over 2009.
“Our customers widely recognize us for our relentless innovation and customer support. This is what we excel at and continue to invest in,” said Dr. Benny Madsen, CEO, LitePoint. “Our percent revenue growth historically has been in the high double digits and our triple-digit revenue growth in 2010 is a record high. This indicates our value proposition is becoming central to the way the wireless industry deploys products. As the proliferation of devices continues to challenge the wireless value chain with increased complexity and major cost pressures, we respond to these challenges with unique technical solutions, rapid and reliable support, and significant savings. Our products are architected and developed specifically for the new rules of the game. It’s a terrific time to be in the wireless space and we have the resources to continue to deliver a unique proposition that will change the industry,” continued Madsen.
Future Investment in Asia
LitePoint’s corporate investments in 2011 and 2012 call for continued expansion into Asia where the majority of LitePoint’s customers and future growth reside.
“Today’s announcement about our record revenues is evidence that we’re on the right path. Every dollar we earn in revenue, we believe, results in tens of thousands of dollars in quality and efficiency improvements for our customers. Our commitment to their success has never been greater or more urgent,” said Spiros Bouas, LitePoint’s COO. “Innovation combined with physical proximity to our customers is our highest corporate priority. We continue to make major investments in Asia with the objective of moving as much innovative capacity as close to our customers as possible, eliminating the need for back and forth interaction with our Sunnyvale headquarters,” continued Bouas. “Our plan is to create replicas of our Silicon Valley campus next to key customers, complete with cross-functional teams and executive management with authority to make important judgment calls on the spot. Our customers don’t have time to wait– they deserve the best engineering and best problem-solving ability we can offer–all locally and within a two-hour reaction window. We’re setting ourselves up to meet or better that demand.”
About LitePoint Corporation
LitePoint Corporation is based in Sunnyvale, California. The company designs, develops, and supports advanced wireless test solutions for developers of wireless devices and consumer electronics, contract manufacturers, and wireless integrated circuit designers. LitePoint solutions have optimized and verified the operation of more than one billion wireless devices worldwide. LitePoint products are used in development environments and high-volume manufacturing and provide its customers with superior ROI, faster time-to-market, improved manufacturing yields, higher product quality, and increased profitability. For more, go to www.litepoint.com.
Contact: Brad Poston, VP Marketing LitePoint Corporation 1-408-456-5000 firstname.lastname@example.org
SOURCE LitePoint Corporation