Richardson, TX–AMX Corporation reported fourth-quarter and operating results that reflect strong growth in key market sectors and overall top-line revenue growth.
2003’s strong showing–reflecting AMX’s first debt-free year in a decade–is being attributed to the right mix of robust product launches, new dealer programs and renewed commitment to research and development.
Residential revenue increased 26 percent to $3.5m from $2.8m in last year’s same quarter. Total revenue was $23m, up 15 percent from $19.9m.
“Strong execution across the company has enabled us to deliver revenue growth in all of our key sectors,” said AMX president and CEO, Bob Carroll. “Demonstrating the positive effect our research and development initiatives have had on the company, sales of products introduced in the last two years accounted for more than half of total revenue for the quarter.
“Recognizing the impact ‘R and D’ has had on our business,” Carroll continued, “we will introduce new products that support our device, asset and content control strategy, as well as solutions-based selling initiatives that we expect will drive key vertical market developments.”
For fiscal year 2004, total revenues were $85.9 million, a four percent increase from $82.6 million for fiscal year 2003.