Strong financial performance driven by soaring demand for innovative RF EDA solutions
Despite the tough economic climate and EDA environment, AWR's 25 percent growth for the fiscal year is nearly triple that of the EDA industry average, as reported by the EDA Consortium (EDAC.org). This impressive performance bolsters the company's profitability, and provides momentum into the next fiscal year. In addition, it marks the fourth consecutive year of double-digit revenue growth following the bursting of the dot com bubble.
"This quarter ending March 2008 and March itself were record-setting, helping to make fiscal 2008 the most successful in AWR's history," said Dane Collins, CEO of AWR. "Our continued growth validates that customers are willing to invest significantly in high-frequency EDA tools that increase productivity and positively impact their bottom line. The years of investing heavily in R&D in order to bring truly innovative new technologies to market have proven to be incredibly fruitful."
International Customer Base and New Customer Expansion
Sales in all of AWR's geographical regions - North America, Europe and Asia - were strong, with exceptional performance from Japan, all of Europe, and throughout Asia-Pacific. The company directly attributes its growth in Europe and Asia-Pacific to the investment made by the company into its sales channels in these regions over the past few years. Significantly expanded customer accounts include: Alcatel, Anritsu, Honeywell, Nera Networks and Nokia. In addition to new orders from existing customers, AWR also added more than 30 new companies to its rapidly expanding worldwide customer base during the fiscal year.
Strengthened Financial Position
In addition to the record sales and revenue levels achieved in fiscal 2008, AWR was also able to strengthen its overall financial position. "We are extremely pleased with our record financial performance for the fiscal year," said Rick Bottomley, chief financial officer at AWR. "Our balance sheet has remained strong, with record amounts in cash and cash investments, deferred revenue and a strong backlog at the end of the year. The company's proven record of product development, innovation, and outstanding people have attributed to these financial results. We look forward to our continued investment in new technologies and pursuing the opportunities that lie ahead."
AWR is the innovation leader in high-frequency EDA software that dramatically reduces development time and cost for products employed in wireless, high-speed wired broadband, aerospace and defense, and electro-optical applications. The company's core technology is unique among high-frequency EDA platforms in that it is inherently open and flexible. AWR continually strengthens its product portfolio with innovative new technologies that enable faster, more streamlined product development, the most recent of which are the ACE™, RFA™, and AXIEM™ tools. The privately-held company has more than 20,000 active users, and is headquartered at 1960 East Grand Avenue, Suite 430, El Segundo, Calif. 90245. For more information about AWR and its products, please visit www.awrcorp.com.
For more information, please contact:
Rick Bottomley (financial)
1999 South Bascom Avenue, Suite 300, Campbell, CA 95008
1960 East Grand Avenue, Suite 430,El Segundo, CA 90245
Tel 310 726-3000
Heidi Vantulden - For AWR
Bluestone PR, Inc.