EL SEGUNDO, CA – 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 include record annual revenues (the 13th consecutive year of revenue growth), an increase in employees, 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™, a breakthrough 3D planar electromagnetic (EM) technology. In addition, the aerospace and defense sector trend toward reevaluating 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’s CFO. "Along with record annual revenues, we achieved positive cash flow and continued profitability.”
“Our consistent and continued growth verifies that customers need tools to increase their productivity and positively impact their bottom line,” said Dane Collins, CEO at AWR. “Our software solutions deliver those results and even more when complemented by our valuable staff that services our worldwide customer base.”
