CYBRA Corporation Sees 30-40% Revenue Growth In 2010 As RFID Market Strengthens
CYBRA Corporation, a leader in bar code and RFID technologies for IBM Power Systems and other major computing platforms, today announced that it expects significant growth in its principal RFID end markets through 2011.
The anticipated growth in key RFID markets, such as apparel and distribution, are expected to more than double CYBRA's RFID product and services revenues in 2010. This growth, coupled with increased customer interest in CYBRA's traditional Auto-Id products, should lead to overall revenue improvement of as much as 40% year over year.
"We have seen a significant growth in interest for RFID technologies over the past few months, particularly in the apparel industry," said CEO Harold Brand. "Of CYBRA's thousands of customers worldwide the largest market segment is apparel. We believe that CYBRA remains uniquely poised as, to the best of our knowledge, the only provider of RFID software solutions designed specifically for the industry-leading IBM Power Systems platform, as companies move from speculative pilot programs to real-world implementation."
Global market research firm RNCOS indicated in April 2010 that it expects the global RFID market to grow at a 28%+ CAGR and generate $10.7 billion in revenues by 2013. Among the largest segments is apparel, which analyst Robert Baird & Co. predicts will be a major driver of growth within the industry of around 40%, compared to 20%-30% growth for the rest of the industry.
To the Company's knowledge, CYBRA Corporation is the only provider of RFID software solutions specifically designed to leverage the exceptional capabilities of the industry-leading IBM Power Systems platform. Customers that have shown interest, but had no budget, over the past two years are now calling to implement RFID solutions in their businesses, which the Company expects to add between 25% and 30% revenue growth in 2010 and 2011.
Recent new customers include Elite Medical Supplies of Buffalo, NY, which is using CYBRA's EdgeMagic software to track their inventory to meet Medicare and Medicaid mandates designed to reduce fraud, and Blue and White Foods, which will use the industry-leading software to reduce errors through improved inventory management in multiple warehouse locations and on direct to store delivery trucks.
"After making significant improvements to our leading MarkMagic and EdgeMagic software during the economic downturn, CYBRA is better positioned than ever for rapid growth in the RFID and bar coding industries," added Mr. Brand. "A number of additional active deals are in the pipeline and are expected to be announced shortly as we continue to build value for shareholders."
About CYBRA Corporation
CYBRA Corporation is a leader in bar code and RFID technology for IBM Power Systems and other major computing platforms. An IBM Business Partner and Motorola/Symbol Partner, CYBRA is represented by a network of value added resellers throughout the United States and is represented internationally by sales and support offices.
MarkMagic Bar Code Labels, RFID Tags and Forms Software is used by thousands of customers worldwide, and has been selected as the bar code print engine of such leading software developers as Manhattan Associates, Infor and VAI. MarkMagic helps customers easily integrate barcode, RFID technology and electronic forms into their business systems.
CYBRA's latest product, EdgeMagic is an integrated RFID control solution. EdgeMagic helps customers build any type of RFID system, from complying with the full range of RFID mandates to closed loop asset management RFID applications.
CYBRA software solutions run on all major computing platforms including IBM Power Systems (System i, iSeries, AS/400, AIX) as well as Linux, Unix, and Microsoft Windows.
SOURCE: CYBRA Corporation