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Richardson, Texas (October 22, 2004)
Zyvex today announced financial results for
its fiscal third quarter 2004. The Texas company continues
its business gains with eight consecutive quarters of sales
growth and expansion of its global sales reach. Executives
anticipate that 2004’s total revenue will exceed $8
million, which would represent a 90+ percent increase over
2003.
“I continue to be extremely pleased with
our financial results,” stated Zyvex’s CFO Timothy
M. Gilmore. “During the month of September, we recorded
our largest single month of customer orders booked, as well
as net sales recorded.”
Founded in 1997, Zyvex reported its first revenues
in 2001, grossing only $150,000. Company revenues grew to
$1.2 million in 2002 and $4.5 million in 2003. Gilmore anticipates
that the company will achieve cash-flow break-even by Q4 2005,
and become bottom-line profitable in 2006.
This announcement follows Zyvex’s continued
worldwide sales and marketing expansion into China, France,
Germany, Italy, Japan, Korea, Malaysia, Poland, Singapore,
Switzerland, Taiwan, Thailand, the United Kingdom, and Vietnam
through alliances with Keithley Instruments, Inc., Caltron,
Pte., and L.O.T.-Oriel. Zyvex also has numerous key alliances
with industry leaders, including Easton Sports, FEI Company,
Frost & Sullivan, MANCEF, MIT’s Institute for Soldier
Nanotechnologies, and many others.
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