We believe that the worst of the economic decline is behind us
Plano, Texas (Vocus) July 30, 2009 -
Small businesses are embracing new technology as a strategy to survive the struggling economy, driving revenue higher for Wasp Barcode Technologies in the second quarter of 2009. The company, which creates technology solutions to help small businesses improve productivity, increase efficiency and reduce costs, saw sales of Wasp Inventory Control and Wasp MobileAsset products lead its revenue growth in the second quarter, as small businesses strove to better manage and improve their bottom lines.
Wasp's second-quarter sales were up 26 percent over the first quarter, with June turning in the year's best results thus far. Compared to the second quarter of last year, the company's revenue was down less than 10 percent. Profitability for the recent quarter was strong.
"We believe that the worst of the economic decline is behind us," said Tom O'Shea, general manager for Wasp. "Confidence has solidified, especially among our base of small business customers. With this confidence, business owners are investing in technology to improve their business operations.
"We expect the overall economic recovery will be extended, lasting throughout the remainder of 2009 and well into 2010," O'Shea added. "However, we believe our technology solutions make an immediate impact on efficiency and profitability for our customers and are well-suited to help small business survive, and even prosper, through this prolonged recovery."
Wasp Inventory Control and Wasp MobileAsset led the company's revenue growth for the quarter. In addition, a new release of the WaspTime time and attendance system, which includes a new web interface, was well-received and showed good potential as the quarter ended.
Sales through Wasp's channel partners were strong. Highlights included growth within the company's WaspLink VARs (value-added resellers), as well as increased revenue from key direct marketers.
Wasp also enjoyed unexpectedly good sales for its new service offerings, which were launched in March. These include WaspProtect™, an extended warranty program that covers Wasp barcode scanners, barcode printers and portable data terminals. WaspProtect guarantees a 48-hour turnaround on repairs for U.S. customers. Wasp also began offering training for its key products, including Wasp MobileAsset and Wasp Inventory Control. The training programs ensure that small businesses get their Wasp products up and running quickly, to create an immediate return on investment.
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).