Company sees revenue, profits up in third quarter as fluctuating economy prompts small businesses to find new cost savings.
Plano, TX (Vocus) November 3, 2008 -- During challenging economic times, small businesses go into survival mode, seeking ways to work smarter and save money. That reality continues to boost the financial performance of Wasp Barcode Technologies (http://www.waspbarcode.com/), which sells technology to help small businesses improve efficiency, reduce costs and drive productivity.
"Small business continues to be a key driver in the U.S. and global economies," said Laurie McCabe, vice president of SMB at AMI-Partners. "Amidst changing economic conditions, they are more cautious about technology expenditures, but are looking for solutions that can provide positive business benefits. Solutions that help improve efficiency, such as those offered by Wasp, provide small businesses with a clear return on their investment."
In the third quarter, Wasp pushed its revenue up 9 percent compared to the same time period in 2007. Sales also were up 13 percent over the second quarter of 2008, showing healthy sales in spite of - and even driven by - a lackluster U.S. economy. Earnings rose as well: 7 percent over the third quarter of 2007 and 28 percent greater than the second quarter of 2008.
The company's year-to-date results show a 13 percent increase in revenue and an 18 percent rise in earnings, compared to the first nine months of 2007, as the company sees consistent growth and penetration across all channels.
"The year has been very good, including record sales in September," said Tom O'Shea, general manager for Wasp. "This has created momentum for us going into the last quarter, and we expect strong financial results for the year overall. This is largely thanks to small business owners who are investing in our cost-effective technology to enhance both their top and bottom lines."
Other indicators point to a strong fourth quarter. Wasp continues to see increased web traffic, with visits up 25 percent over last year. The company recently launched a point-of-purchase display in 50 Staples Business Depot retail superstores in Canada and just introduced the latest version of its Inventory Control software. Furthermore, Wasp continues to gain industry recognition, including its second consecutive ranking on the Inc. 5000 list of the fastest-growing private companies in the country.
About Wasp Barcode Technologies
Wasp Barcode Technologies provides data capture and tracking solutions designed specifically for small business. Products include inventory control (http://www.waspbarcode.com/inventory_control), asset tracking (http://www.waspbarcode.com/asset_management), time and attendance (http://www.waspbarcode.com/wasptime), barcode scanners (http://www.waspbarcode.com/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 www.waspbarcode.com or call 866-547-WASP (9277).
Wasp Barcode Technologies