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Crawford Technologies Announces 48% Growth

Thursday, January 15, 2009

Press release from the issuing company

Toronto, 12 January 2009. Crawford Technologies Inc., an award-winning provider of transactional customer communication document solutions for high-volume print operations, today announced its fiscal 2008 year-end financial results. The company showed another strong performance in 2008 with overall annual revenues growing at 48% over the previous year-end results.

"2008 is CrawfordTech's sixth year of continuous growth in revenue and profits," said Ernie Crawford, President, Crawford Technologies Inc., adding "Achievement of 48% year-over-year growth exceeded our FY08 40% target by a significant margin. It is gratifying to see profitable, organic growth that enables us to continue to make ongoing investments in our people, products and infrastructure as we move into 2009. We see many tremendous opportunities in the market and anticipate more growth and new prospects for CrawfordTech in the coming year."

Crawford Technologies' revenue growth was fueled both by direct and OEM sales with a healthy contribution from an expanding professional services business. Other key highlights from the past year include:

- Expansion of the worldwide client base to comprise over 500 customers in North America, Europe, the Pacific Rim, and South America.

- The opening of a European office and conclusion of a VAR agreement with Rasterpunkt in Germany.

- The launch of several new products and solutions, including the Enterprise IMB solution and product family, the PRO Workflow family of products and the Electronic Envelope.

- Receiving the Innovator of the Year award for its document re-engineering solutions from Xplor International.

CrawfordTech is a privately held company headquartered in Toronto, Canada. Its fiscal year ended on September 30th 2008.




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