Company reports record sales bookings, equipment shipments, and net revenue as operating expenses fall. Net income doubles
SAN BRUNO, CA , — January 31, 2006 —Technical Communities, Inc, owner and operator of industry leading websites such as www.testmart.com, www.testmartdirect.comand www.navicpmart.com announced today that the company had booked record results for 2005 as well as a significant increase in operating profit for the period ending December 31st. The company, which is privately held and does not typically disclose its financial performance, said growth came from strong test and measurement and IT equipment sales and increased service revenue compared to the comparable year-ago period.
- Equipment bookings grew by more than 72%
- Shipments doubled from 2004’s record year, growing by 100.3%
- Operating expenses as a percentage of shipments fell by 42%
- Net income doubled, growing 100.8%
All these key indicators exceeded the aggressive plan set by the management and board of directors in 2004.
“After more than 7 years in business we continue to see accelerating growth and momentum across the board,” said Peter Ostrow, Technical Communities, Inc. President and CEO. “Given our history of growth we expect to cross the $100 million threshold in 2006 as we continue to add lines and services that solve problems and that focus on our customers,” said Ostrow. “