Inc. Magazine Names Vocollect One of North America's Fastest Growing, Privately Held Companies

Vocollect, the global leader in "Hands-free, Eyes-free" voice-directed work, has been named to Inc. Magazine's 24th Annual Inc. 500 List of America's Fastest Growing Private Companies. Driven by Vocollect's compound annual growth rate of 60 per cent over the past three years, the listing by Inc. Magazine focuses additional attention on the company's increasing presence and the market acceptance of its hands-free, eyes-free voice-directed solutions for logistics and supply chain applications.
 
"Our extraordinary growth has been over 17 years in the making. Vocollect has a long history in the innovation of applying advanced voice technology to create reliable, practical and most of all, high ROI products for business," says Jack LeVan, Vocollect's president and CEO.
 
Noting that the company achieved record sales of $65 million in the first nine months of 2004, an increase of 98 per cent over a year ago. LeVan said, "Our 12 consecutive quarters of profitable growth reflect the hard work and dedication of our employees and our global network of outstanding reseller partners, who have established Vocollect as the unquestioned leader for voice-directed distribution solutions, around the world." LeVan adds, "Thanks to their efforts and the support of our customers, hands-free, eyes-free systems from Vocollect have become a strategic necessity for companies seeking greater accuracy, productivity and profitability."
 
LeVan projects that company sales for all of 2004 will surpass $82 million, an increase of more than 70 per cent over 2003 results.
 
Vocollect's continued revenue growth and impressive financial performance is driven by several key factors:  
- Rapid growth in European markets providing around 25 per cent of the company's sales
- Adoption of Vocollect's industry-leading solutions by a growing range of vertical market segments and rapid proliferation of applications throughout the distribution centres of long term Vocollect users.
-Strong growth from new and existing reseller partnerships with many of the world's leading warehouse management system (WMS) vendors, material handling systems integration firms and selected speciality voice value-added reseller companies
- Enthusiastic reception for the company's newly introduced SR-20 Talkman­ Lightweight Headset, designed, manufactured and thoroughly tested in Pittsburgh, USA.
 
"Our ability to sustain rapid self-funded growth comes from the business benefits and real return on investment, delivered by our products and services," said LeVan. "We have worked very hard to earn the trust of many of the world's top companies."