Carlsbad, California, Jan. 15, 2004 - Romer Inc. announced today that it just completed the most successful
year in the company's history. Sales and profits were up sharply for
the year ended December 31, 2003, extending the Company's record of
profitability to 15 consecutive years. In addition, the Company's
expanded international sales efforts resulted in it being named "The
Exporter of the Year" by the San Diego World Trade Center. Commenting
on the successful year, the Company's Chairman and founder Homer Eaton
stated "We are proud of this year's accomplishments and are excited
about our many new product and sales opportunities in the future. In
order to accelerate our momentum and maximize our global opportunities
we intend to enter into discussions with potential strategic partners.
We believe that the right partner will bring the resources we need to
accomplish our aggressive growth targets."
Both U.S. and international sales experienced strong growth during the
year. Total sales were up 25% and operating profit experienced even
stronger growth, as the market for the Company's products continued to
expand. The worldwide market for portable measuring devices is growing
rapidly as new measurement applications for articulated arms and
related software replace existing measuring equipment and help
customers solve complex measurement problems.
The Company anticipates its commitment to quality, innovative designs,
and research and development will continue to generate new product
developments to fuel the Company's future growth. The Company plans to
introduce several new products in 2004 including DOCS, a vision and
software measurement system. In addition, the engineering team is
developing a very accurate robotic measuring arm that will be capable
of performing in-process real-time inspection. Commenting on the
product development efforts, Homer Eaton said "we expect these new
products will enable the Company to increase its market share worldwide
and to expand into the rapidly growing market for robotic measuring
devices."
To achieve its aggressive growth goals the Company plans to enter into
discussions with strategic partners who have the financial resources to
exploit the Company's growth opportunities. The Company anticipates
that a strategic partnership with an appropriate party will enable it
to accelerate the market penetration and sales growth of its product
line in an expanding market that requires ever increasing resources to
be successful.
Romer is a leader and innovator in portable metrology. It manufactures
and markets measuring equipment used in the automotive, aerospace and
general industrial markets. Romer's products include portable
coordinate measuring machines, software and accessories capable of
enhancing the measuring volume of its products. Its customers include
ABB, Boeing, Caterpillar, Daimler Chrysler, Ford, General Electric,
General Motors, Honda, Hyundai, Nissan, Toyota, Volkswagen, their
suppliers, and many others.
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