Vocollect Announces Record Setting First Half of 2003 - Moves to New Building This Week

Vocollect, the market leader in voice technology software and hardware solutions for industry, will cap record financial performance in the first half of 2003 by moving into a new, purpose-built headquarters on Friday, August 15. Vocollect reported first-half revenues in excess of USD$23 million, representing more than double the 2002 mid-year revenue point. This growth is especially impressive as the privately held company ended FY2002 with significant revenue gains over the 2001 period.

PITTSBURGH, PA (PRWEB) August 13, 2003 -- Vocollect, the market leader in voice technology software and hardware solutions for industry, announced that it will cap record financial performance in the first half of 2003 by moving into a new, purpose-built headquarters on Friday, August 15.

The building, an 80,000-square-foot, four-story office, research lab and production facility, is located adjacent to Vocollects current offices in Wilkins Township, in the eastern suburbs of Pittsburgh. Our consistently strong results reflect the companys steady growth over the past few years," said President and CEO Jack LeVan, adding, We started to actively plan for this new building two years ago. We were able to put off the move for a couple of quarters, even though our sales grew faster than planned, because our staff has been resourceful and flexible. But now we really need the room -- and the labs, demo areas and training facilities."

Vocollect reported first-half revenues in excess of USD$23 million, representing more than double the 2002 mid-year revenue point. This growth is especially impressive as the privately held company ended FY2002 with significant revenue gains over the 2001 period.

Not only has Vocollect demonstrated strong market performance," said LeVan, But, the end of June extends our string of profitable quarters that began in 2001. With such consistent profitability, Vocollects rapid growth has been self-funded for the past two years, yet the company recently retired a substantial debenture from an earlier financing, some three years ahead of schedule.

For a private company in this economy, we are in an extraordinarily strong position. Its a testament to how well our integrated software and hardware voice distribution solutions and services have taken hold in the market," said LeVan.

In addition to its top-tier product offering, LeVan attributed the growth to several factors: a successful strategy to serve new markets beyond the companys traditional stronghold in the grocery retail and wholesale industry, where Vocollects solution is installed in nine of the top ten businesses; extremely rapid expansion of its European business since the 2002 opening of its EU headquarters in the UK; and a significant increase in sales through the premier global partner network, which now represents the majority of the firms orders. In general, weve built a market that has confidence using voice in the warehouse," LeVan said.

Anticipating the growth in revenue -- and staffing, up from 68 employees in early 2000 to a current headcount of 135 -- the executive team began surveying the staff about a new facility. Once we determined that the ideal location was essentially in our current spot, we explored options for available land and renting at an office park," said Vaughn Dempster, CFO and Vocollects in-house project leader for the building move.

Vocollect eventually chose to work with its long-standing landlord on a built-to-suit facility constructed across the parking lot from its current location. Dempster said, We maintain our easy access to central Pittsburgh and to the citys modern, international airport and we raise our local corporate presence with a bold sign on a very visible, attractive building."
   
Dempster said, By building to suit, we were able to incorporate features that respond to our employees preferences and to our business needs. An example of this is the new state-of-the-art sound labs that will help us continue to push the development and performance of our industry-leading industrial voice-recognition engine."

The building also accommodates Vocollects expanding need for a world-class production area, where its industry-leading wearable, voice-driven Talkman® computers are assembled and tested. Reflecting Vocollects culture, the new building includes some special features that accommodate lifestyle and high tech work style preferences, such as a fitness center, a recreation room, low-glare indirect lighting and ergonomically designed workstations.

Concluded Roger Byford, Vocollects founder, chairman of the board and chief technical officer, The move to our new headquarters is another milestone in our strong and consistent track record of using our success to invest in people and products. Our new facility will directly enhance our ability to serve our partners and end-user customers more effectively for many years to come. Its the kind of place where we can continue to grow and to excel."

About Vocollect Inc.
Vocollect, a privately held company headquartered in Pittsburgh, is the global leader in wearable computers employing speech synthesis and speech recognition technology for warehousing and industrial applications. The company has developed and installed voice-directed systems since its start in 1987. Today, over 50,000 users in hundreds of locations throughout North America, Europe and Asia Pacific use Vocollects integrated software applications and Talkman® terminals to eliminate errors, cut operating costs, and improve productivity. Vocollect and its global network of resellers and integrators provide Talkman systems and on-site support for customers in inventory-driven industries such as grocery wholesale and retail, general and mass merchandise, foodservice, convenience store, beverage, health & beauty and medical/pharmaceutical.

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Editors Note: Please visit our website at http://www.vocollect.com/us/news/building_photos.php for downloadable, high resolution photography of the new building.