Mackie Designs Inc. Named to Fastest Growing Technology Companies List
January 23, 1998 – Woodinville, WA – Mackie Designs Inc. (Nasdaq: MKIE) today announced that it has been named one of the fastest growing technology companies in the national Technology Fast 500 awards.
Mackie, which had revenues of over $73 million in 1996, will announce 1997 earnings figures on February 17. The company released five new products in 1997, including power amplifiers, a studio monitor, a large-format console, and its first digital product, a digital audio workstation interface. The company plans to introduce a digital 8•Bus console early in 1998.
"Mackie's investment in R&D in 1997 eclipsed that of any previous year in the company's history," commented Chief Operating Officer Roy Wemyss. "The focus of this investment has been on new technology, all complimentary to Mackie's core business. This will provide long term growth and opportunity to Mackie's product line, providing both extension and depth to our business."
The Technology Fast 500, sponsored by Deloitte and Touche LLP, is a unique awards program that exclusively recognizes fast-growing technology companies. Companies are ranked by percentage growth in revenue over a five-year period, and must have been in business for at least five years. Joining Mackie in fastest-growing Washington State companies include Optiva Corporation, CellPro, Inc., Data Dimensions, and Applied Precision.
Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, difficulties encountered in the integration of acquired businesses and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
About Mackie
Mackie Designs Inc. is known worldwide as a leading manufacturer and marketer of high-quality, affordable professional audio systems. Mackie products can be found in professional and project recording studios, video and broadcast suites, post production facilities, sound reinforcement applications including churches and nightclubs, retail locations and on major musical tours. Mackie Designs Inc. products are marketed by 54 distributors to more than 100 countries around the world.
"Mackie." is a registered trademark of Mackie Designs Inc. in the United States and other countries.
For more information please contact: Mackie Designs Inc. • 16220 Wood-Red Road N.E. • Woodinville, WA 98072 • Phone: 425-487-4333 • Fax: 425-487-4337 • Internet: www.mackie.com
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