Palomar Technologies Posts Best Year of the Millennium and Upgrades Organization
CARLSBAD, CA -- (Marketwire) -- 02/06/09 -- Palomar Technologies, provider of automated precision microelectronic assembly equipment and contract assembly services, announced today it has posted its best year since 2000.
"We exceeded our sales, booking and profit targets in 2008 and are carrying a strong backlog into the current year," said Bruce W. Hueners, President and CEO of Palomar Technologies. Hueners attributes Palomar's success to its unique positioning in niche markets and sustained excellence in automated assembly products and services.
This past summer, Palomar management bought out the original investor group that spun the company out of Hughes Aircraft in 1995. Augmenting the company's performance is the growth of its Microelectronics division, focusing on process development and contract assembly services.
The additional Microelectronics services have allowed startups and cash-strapped customers to get the benefits of Palomar's advanced assembly systems without having to purchase their equipment outright. It also gives customers the benefit of leveraging Palomar's own experts to develop complex assembly processes to build their products at high yield. Palomar's advanced packaging assembly services include: advanced wire bonding, eutectic die attach, gold ball (stud) bumping, and very high precision component placement.
"For continued success, it is vital that we remain agile, proactive and vigilantly focused on providing an unequalled level of product and service excellence for our customers worldwide," added Mr. Hueners.
Palomar also upgraded its organization in 2009, focusing on key areas including customer service, marketing and digital media, and further implementation of a comprehensive strategy to expand its unique position in key niche markets. Several executive personnel across the company have been promoted into new roles to execute Palomar's strategy.
Palomar Technologies and Microelectronics offers assembly, test and contract assembly services and manufactures factory automation equipment that support an array of companies worldwide in defense and aerospace, telecommunications including optoelectronic and wireless, medical, homeland security, automotive and other emerging consumer technologies.
For more information, or to speak with the knowledgeable team at Palomar Technologies and visit http://palomartechnologies.com.
About Palomar Technologies:
Palomar Technologies (formerly part of Hughes Aircraft Company) is the world's foremost supplier of automated high-precision wire bonders, die bonders and component placement systems combined with process development and contract assembly services to increase yield and lower costs for microelectronic device manufacturers.
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