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Applied Wave Research (AWR) Press Release, 11-12-2008
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AWR Announces Record Financial Performance for First Half of FY2009
 Company
officially adopts AWR as its corporate identity
EL SEGUNDO,
Calif. — November 12, 2008 — AWR, the innovation leader in high-frequency
electronic design automation (EDA), today announced record revenues
for the first half of the company's 2009 fiscal year. Building on record
revenues set in fiscal year 2008, the company was able to top the previous
record six-month totals despite a weakened economy and softening demand
for EDA design tools during the current period. Cash and cash investments
at the end of the second half of fiscal 2009 increased to new highs
compared to the record amount recorded at the end of fiscal 2008.
"Achieving record revenues for the first half of fiscal 2009, along
with double-digit increases in renewable revenue and continued profitability,
have been great accomplishments for AWR, especially in light of the
unsettled economic environment," said Rick Bottomley, chief financial
officer of AWR. "Our financial results reflect the outstanding commitment
AWR employees have made to our customers and our overall success in
continuously providing best-of-breed solutions to our customers so they
can develop next-generation products and take market share from their
competitors".
Challenges of fierce competition coupled with today's
uncertain global economy make it essential for customers to be confident
that the tools in which they invest will ensure they can compete successfully
by getting their products to market quickly and economically. The company's
positive financial outlook remains high in the second half of the year
with third quarter bookings projected to achieve record levels.
AWR also announced today that it has changed its name from Applied
Wave Research, Inc. to AWR Corporation. The change was made to reflect
the success and world-wide recognition of the AWR brand name.
About AWR
AWR is the innovation leader in high-frequency
EDA software that dramatically reduces development time and cost for
products employed in wireless, high-speed wired broadband, aerospace
and defense, and electro-optical applications. The company's core technology
is unique among high-frequency EDA platforms in that it is inherently
open and flexible. AWR continually strengthens its product portfolio
with innovative new technologies that enable faster, more streamlined
product development, the most recent of which are the ACE™, RFA™, and
AXIEM™ tools. The privately-held company has thousands of active users
and is headquartered at 1960 East Grand Avenue, Suite 430, El Segundo,
Calif. 90245. For more information about AWR and its products, please
visit www.awrcorp.com.
Copyright (c) 2008 AWR Corporation. All rights reserved. AWR and
the AWR logo are registered trademarks, and ACE, AXIEM, and RFA are
trademarks of AWR Corporation. All others may be trademarks of their
respective holders.
Contact:
Sherry Hess
Vice President
of Marketing
(310) 726-3000
hess@awrcorp.com
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