Company boasts double-digit sales growth, triple-digit earnings increase

Plano-based Wasp Barcode Technologies started 2010 strong, with dramatic increases in both sales and earnings during the first quarter. The company’s financial results mirror recent reports that show a rebound in IT investment by small businesses looking for ways to improve their productivity.

While Wasp’s revenue grew 24 percent compared to the first quarter of 2009, the company also turned in strong growth of 13 percent over the prior quarter. Wasp’s earnings showed even greater improvements, with an increase of 135 percent over the first quarter of 2009 and a boost of 45 percent compared to last quarter.

“Throughout the first quarter, we’ve built momentum that is continuing into the second quarter of 2010,” said Tom O’Shea, general manager for Wasp Barcode Technologies. “Small businesses are generally viewed as being among the first to show signs of recovery after an economic downturn, and we are definitely seeing this trend play out in our business.”

Wasp’s affordable solutions help business owners reduce costs and improve efficiency, key attributes to survive and grow as the economy shows positive signs of recovery.

“We’re helping these companies improve their operations and do more with the cash, employees and time that they have,” O’Shea added. “It’s a message that is being well-received in the marketplace.”

Highlights for the first quarter include a terrific rebound in North American channel sales, which were up 38 percent, while United Kingdom channel sales rose a smart 28 percent.

Wasp MobileAsset v6 asset tracking solution was released early in the quarter and created a spike of interest, especially when sold as a complete solution that includes Wasp’s new WPA1000 mobile computer. Other areas of growth included WaspTime time and attendance system, which saw its sales rise by more than 20 percent. This solution hits right at the center of productivity by eliminating errors and significantly reducing the time required to process payroll.

Looking forward to the second quarter, Wasp sees continued strong momentum. The company is investing in its value-added reseller and solution partner channels, as these IT professionals continue to seek ways to help their small business clients improve bottom-line performance.

“We are spending both time and money to develop new solutions and reach the small business segment,” O’Shea said. “Wasp’s solutions truly impact profitability. That’s something small businesses are looking for, especially as we emerge from the economic downturn of 2009.”

For more information visit www.waspbarcode.com or call 866-547-WASP (9277).