EL SEGUNDO, Calif. — (BUSINESS WIRE) — April 26, 2010 — AWR Corporation, the innovation leader in high-frequency electronic design automation (EDA), announced today another financially successful year for its 2010 fiscal year, which ended March 31, 2010. Highlights for the year include: record annual revenues for fiscal year 2010, 13th consecutive year of revenue growth, increase in employee headcount, and global expansion including a new office in Korea.
AWR’s sales growth was driven in large part by heightened demand for its latest product AXIEM™, breakthrough 3D planar electromagnetic (EM) technology. In addition, the military/aerospace and defense sector trend to reevaluate tools during the economic downturn resulted in a transitioning from legacy products to AWR’s Microwave Office® design environment. This retooling trend has been especially strong in the area of monolithic microwave integrated circuit (MMIC) design and added significant momentum to AWR final quarter sales results.
"We are extremely pleased with our financial results this past fiscal year, especially in light of the continued challenging economic climate," said Rick Bottomley, AWR CFO. "Along with record annual revenues, we achieved positive cash flow and continued profitability.”
“Our consistent and continued growth validates that customers need tools that increase their productivity and positively impact their bottom line,” said Dane Collins, CEO at AWR. “Our software solutions deliver those results and even more so when complemented by our valuable staff who service our customer base world-wide.”
AWR, the innovation leader in high-frequency EDA software, dramatically reduces development time and cost for products employed in wireless, high-speed wired, broadband, aerospace and defense, and electro-optical applications. For more information, visit www.awrcorp.com.
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