Strong Financial Results from Wasp Barcode Technologies Shows Small Business Forging Ahead Despite Soft Market

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Company pushes revenue, profits up in second quarter as small companies continue to invest in affordable technology

The news is dominated by reports about industry giants. But the media doesn't see what we are seeing: more and more small companies making investments in technology to improve their ongoing efficiency and productivity.

Have small businesses survived the economic downturn unscathed? According to Wasp Barcode Technologies, the answer is a resounding yes.

Wasp, which sells its products almost exclusively to small businesses, charged ahead in the second quarter with revenue growth of 22 percent and earnings up 14 percent over the same period last year. These numbers also represent strong sequential growth, with revenue rising 11 percent over the first quarter of 2008. Solid financial performance reached across all of the company's channels and product lines.

"Small businesses are simply not being negatively impacted by economic challenges the same way large companies are," said Tom O'Shea, general manager for Wasp. "The news is dominated by reports about industry giants. But the media doesn't see what we are seeing: more and more small companies making investments in technology to improve their ongoing efficiency and productivity."

Signs remain strong for the remainder of the year, thanks to an expanded channel program coming online in the third quarter, new products planned for the fall, and the recent addition of two new models to Wasp's barcode printer line. Loaded with features, the Wasp WPL610 and Wasp WPL608 are fast, rugged industrial barcode printers that offer the best performance on the market at a competitive price.

In the second quarter, Wasp also earned several awards:

  •     Everything Channel selected Wasp as a CRN Emerging Tech vendor for 2008. The Emerging Tech list recognizes companies that deliver high margins for solution providers via innovative, easy-to-use technology that undercuts industry giants.
  •     The MCM Awards, which are co-produced by the Direct Marketing Association and Multichannel Merchant, granted the Wasp web site a silver award in the business specialty products category. The company's United Kingdom web site won a silver award in the international category.
  •     The Comerica Bank Collin 60 Awards named Wasp one of the fastest-growing private companies in Collin County, Texas, ranking it at No. 33.

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).

Contact:
Lesley Hensell
pr@waspbarcode.com
817-797-0910

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Grant Wickes
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