Airmar Technology Corp. said revenue rose 24 percent last year.
“The increase in revenue reflects a long-term investment in research and development that has averaged 15 percent of our sales over the past 10 years,” Airmar vice president and COO Matt Boucher said in a statement. “This dedication to creative research, design integrity and state-of-the art manufacturing allows Airmar to build innovative products quickly."
Milford, N.H.-based Airmar said its sustained growth has prompted the company to expand operations by building a second facility of more than 72,000 square feet. Directly across the street from the company’s existing headquarters, Airmar East is scheduled to be ready for occupancy in the fall.
“The continued growth of Airmar in the U.S. and international markets has allowed us to expand our operations to best fit our needs. By building all our products here in New Hampshire we have the distinct advantage of having complete control of the production process and can react quickly to design changes and quality control,” Boucher added.
Airmar said the new building’s layout and production will be planned and executed on lean manufacturing principles, allowing for shortened lead times of products as well as reduction of waste.
“We see significant opportunity for our products in the global marketplace, including expansion into new markets with products such as our WX Series Ultrasonic WeatherStation instruments,” Boucher said.
A recent finalist in the New Hampshire High Technology Council’s 2012 Product of the Year competition, the WX Series is an accurate, affordable weather-monitoring solution ideal for agricultural, environmental monitoring and renewable energy industries, according to the company.