In the face of falling revenue, many of these companies took the opportunity to explore ways to operate as cost-effectively as possible. As a result, we are seeing increased interest in our productivity solutions, which can help small businesses immediately realize thousands of dollars in savings.
(Vocus) April 23, 2009
Plano, Texas - (Vocus) April 23, 2009-- Small businesses that were victims of the economic downturn at the beginning of the year now are taking action, seeking out solutions to save money and improve their productivity. That trend has become clear at Wasp Barcode Technologies, which sells technology solutions to help small businesses improve efficiency and reduce costs.
The company's first-quarter sales were off 24 percent compared to the same period last year. However, revenue steadily improved during the quarter, with March showing 15 percent sales growth over February, which likewise had increased over January. In spite of the revenue decline for the quarter, Wasp still produced a solid quarterly profit.
Wasp experienced strong sales growth in its productivity solutions. For example, Wasp Inventory Control, which helps small businesses track inventory to reduce costs and streamline operations, saw its sales up in the first quarter compared to last year.
"Early in the year, small business owners and managers clearly were affected by the global economic situation in spite of their natural 'can-do' attitude," said Tom O'Shea, general manager for Wasp. "In the face of falling revenue, many of these companies took the opportunity to explore ways to operate as cost-effectively as possible. As a result, we are seeing increased interest in our productivity solutions, which can help small businesses immediately realize thousands of dollars in savings."
Leading indicators point to a positive future for Wasp, in both the near- and long-term. Traffic to the Wasp web site is showing a 40 percent increase over last year, sales inquiries hit an all-time high in the first quarter, and revenue through WaspLink value-added resellers were up over last year. Interest in Wasp solutions was further bolstered by the company's new Getting Started training programs, which offer customers free online classes to get them up and running quickly.
"Wasp productivity solutions are just what's needed in today's economy," O'Shea added. "They are affordable, easy to use, and fast to implement. There is a huge opportunity for us to reach the millions of small businesses that still rely on time-consuming, manual methods to manage inventory, track assets, tally timesheets and more. Thanks to this huge potential customer base and a careful, conservative growth plan, Wasp is well-positioned to weather the short-term economic challenges and help small businesses emerge even stronger when the economic uptick occurs."
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).