PolarFab hits its targets

Despite a soft market, PolarFab achieved 100% of its sales/revenue plan for 2004.

PolarFab has reported that, despite a soft market, it achieved 100% of its sales/revenue plan for 2004.

This represents a 36% year-to-year growth, significantly higher than the industry average.

PolarFab CEO and President, Greg Peterson commented: "We are tremendously pleased by these results and our overall performance for the year".

"Our efforts to continually upgrade our processes by adding new devices to improve performance and reduce die sizes, and our focus on shortening time to market for our customers have clearly contributed to our growth this year".

Peterson also noted that PolarFab's performance in the second half of 2004 showed a 30% increase over the second half of 2003.

The fourth quarter of 2004 also represented an increase over the same quarter a year ago, despite a record fourth quarter in 2003 and industry softness in Q4 2004.

"We are delighted with these percentage increases", commented Peterson.

"And even more encouraging is the fact that business generated by new customers is nearly double what it was last year".

"Our plan to replace the legacy Agere business has resulted in a 91% growth of our non-Agere business from 2003 to 2004".

"We now have 49 customers representing every major market segment, including respectable penetration into high-growth consumer markets".

Dennis Gaetano, PolarFab Vice President of Marketing and Sales, noted: "In 2005 we expect to see continued strong growth".

"We are well-positioned in the higher-growth, faster-recovery market segments such as DVDs, cellphones and cameras among others".

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