5/31/2005 - Frost & Sullivan has recognized Aeroflex Incorporated with the 2005 Communications Test & Measurement Company of the Year Award at the Excellence in Industrial Technologies Banquet for its outstanding performance in growing its business.
“Aeroflex achieved an impressive 56 percent growth in revenue during the 2004 fiscal year, as compared to 2003 figures,” says Frost & Sullivan industry analyst Karthik R. “Within this, the test solutions group grew by a stunning 47 percent to garner revenue of $249 million in 2004, a strong rise from the $170 million derived in 2003.”
Aeroflex's gross margin reached an impressive 46.5 percent in 2004. Additionally, wireless protocol and conformance test solutions products made a tremendous contribution to the company's overall growth.
Aeroflex has been organizing its business around radio frequency (RF) – RF chip testing, RF parametric tests in mobile terminal testing for the communications market, high performance re-configurable RF test system on the PCI extensions to Instrumentation (PXI) platform, and even high-speed precision RF testing in the military and aerospace segment of its business. The company has rapidly consolidated its market position through this orientation.
Further, Aeroflex has strategically acquired companies that compliment its test solution product line with minimal overlap, resulting in synergies across various functional areas such as sales, product development and distribution.
Aeroflex’s acquisition of Racal Instruments Wireless Solutions Group (RIWS) – now the Aeroflex Wireless division – in July 2003 helped consolidate its position in protocol test for base stations and in the R&D and certification markets. RIWS’ expertise in parametric and protocol testing of mobiles, base stations and networks in design, installation and repair, provides Aeroflex a leading position in the conformance test and certification market within the wireless communications arena.
Its expertise in the global system for mobile communications (GSM), general packet radio service (GPRS) and enhanced data rates for global evolution (EDGE) markets is well established and undisputed. The company also has plans for the code division multiple access (CDMA) 2000 side of the market, especially since major service providers in the United States have deployed CDMA 2000-based networks in 2004.
“Conformance and certification testing will be a significant growth driver for the wireless test equipment market in 2005 with the onslaught of newer standards, such as wideband CDMA (WCDMA) and CDMA2000 1XEV-DO gaining rapid acceptance amongst the service providers due to their ability to support high data rates,” notes Karthik.
Similarly, Aeroflex is competitively positioned in the PXI market with the growing demand in RF testing, especially in the wireless local area network (WLAN) and mobile phone testing arenas.
Aeroflex also acquired IFR Systems, Inc., a leading designer and manufacturer of advanced wireless test solutions for communications, avionics, and general test and measurement applications. Both IFR and RIWS have a significant foothold in Europe and their acquisition increased Aeroflex’s net sales from operations in the region by 78 percent in 2004, as compared to 2003.
This has presented Aeroflex a strategic advantage in terms of geographic reach over other competitors that are based in the United States. Additionally, Aeroflex’s European service providers are now becoming more global, providing an opportunity for the company to capture opportunities in regions its customers intend to operate from in the near future.
Aeroflex’s strategy is expected to help the company outpace the competition in 2005.
Frost & Sullivan presented its Company of the Year Award to the company that has exhibited excellence in all operations, such as business development, competitive strategy, and leadership, within a particular industry. Aeroflex is perceived to show outstanding management, consistent growth, exceptional customer service and the ability to combine technology and successful strategic initiatives.
Held in Naples, Florida, Frost & Sullivan’s Excellence in Industrial Technologies Awards Banquet honours world-class companies for outstanding performance and achievements in their industries. An annual event, the banquet recognizes the quality and merit of distinguished individuals and companies.
Aeroflex Incorporated is a global provider of high technology solutions to the aerospace, defence, cellular and broadband communications markets. The Company’s diverse technologies allow it to design, develop, manufacture and market a broad range of test, measurement and microelectronic products. The Company’s common stock trades on the Nasdaq National Market System under the symbol ARXX and is included in the S&P SmallCap 600 index. Additional information concerning Aeroflex Incorporated can be found on the Company’s website: www.aeroflex.com.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
About Aeroflex Test Solutions
Staffed with experts in RF and microwave signal generation and processing subsystems, Aeroflex Test Solutions Group provides test and measurement systems, instruments, modules, services and integration support for the communications test, military, government and semiconductor industries. Aeroflex' solutions reflect a commitment to industry-accepted standards and the concept of modular product development. They encompass the following product areas:
Reader enquiries to:
Aeroflex Test Solutions
Longacres House, Six Hills Way, Stevenage SG1 2AN, United Kingdom
Tel: +44 (0)1438 772087
Fax: +44 (0)1438 727601
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