Micralyne Announces Record Year-end Financial Results
June 20, 2006
– Global Leader in MEMS Manufacturing Continues Strong Earnings and Revenue Growth –
Edmonton, Alberta, June 20, 2006Â – Micralyne Inc., a world-leading OEM manufacturer of MEMS (Micro-Electro-Mechanical Systems)-based components, announced today its financial results for fiscal year ending March 31, 2006.
It was a record year for Micralyne as revenues for the 2005-06 fiscal year reached $15.6 million, an increase of 53% over last year. Net income also increased over ten-fold from the 2004-05 total to 2005-06.
Growth was prevalent in all aspects of the business. Micralyne increased its employee base over 95% from April 2005 to March 2006. In addition, several new companies were added to the customer roster while a number of existing customers significantly increased their production orders. Due to this anticipated future growth, plans are underway to expand manufacturing, assembly and test capacity including doubling Class 10 clean room space, assembly areas and office space.
Micralyne’s success was also recognized in November 2005 by the Canadian Manufacturers & Exporters association. Micralyne was awarded the 2005 Canadian Innovation Award for New Technology and the Canadian Innovation Award for Innovative Business of the Year.
“This has been a good year for Micralyne. We have generated both our strongest revenue growth and net income to date,” said Chris Lumb, President & CEO of Micralyne. ” Although we are a private company, we release results because we know that buyers of MEMS products need financially stable suppliers, and Micralyne has one of the best records of sustained profitability in the industry.”
Micralyne is also expanding its business into new areas of growth. This includes a continued push into the Japanese and Chinese markets, expanded product and service offerings targeted towards the telecommunications industry and offering new capabilities for the energy marketplace. Micralyne is also undergoing an extensive lean manufacturing effort to improve the efficiency of fabrication processes and drive down costs for its manufacturing customer base.
Micralyne develops and manufactures microfabricated and MEMS (Micro-Electro-Mechanical-Systems)-based products. Micralyne is one of the largest independent companies in the world that manufactures MEMS in high volumes. MEMS technology is built on the premise of making industrial components smaller, faster and less expensive and facilitates radical improvements in the miniaturization of electronic and mechanical devices. These types of devices are used in many industries including communications, transportation, energy, and life sciences. More specifically, Micralyne’s micron-scale solutions (i.e. 1000 microns = 1 millimetre) are found in automotive sensors for control system, optical switching technology in telecommunication networks, lab-on-a-chip devices for drug discovery, and commercial pre-press equipment for printing today’s most popular magazines. Micralyne is a fast growing company headquartered in Edmonton, Alberta, Canada.
For further information contact:
Mr. Chris Lumb
President & CEO
1911 – 94 StreetÂ
Canada T6N 1E6Â