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Tuesday April 27, 5:04 am Eastern TimeCompany Press ReleaseElo TouchSystems Posts Record Quarterly RevenuesFREMONT, Calif.--(BUSINESS WIRE)--April 27, 1999--Elo TouchSystems, Inc., a global leader in touch technology and a Raychem (NYSE:RYC - news) subsidiary, today reported record revenues worldwide for the third quarter of fiscal 1999 of $32 million, up 22 percent on a reported currency basis and 19 percent on a constant currency basis from the prior year period. The strongest growth versus the year-ago quarter was in Europe and Asia, where sales increased 30 percent and 50 percent respectively. Customers continued to choose Elo as their supplier for flat touchscreens, resulting in greater than a 50 percent increase worldwide in unit volume in the third quarter versus the prior-year period, reflecting accelerating demand for flat displays. The popularity of Elo's AccuTouch 5-wire resistive technology in the POS (point-of-sale) and industrial markets, and IntelliTouch surface wave technology in kiosk application helped to fuel the growth. ``Elo historically has been the favored solution in POS applications, where most customers choose Elo's flat AccuTouch touchscreens because of their quality, proven reliability, and durability,'' says Emily Liggett, president of Elo TouchSystems. ``Elo is particularly pleased to note a recent design win at Xn Corporation, that included the industry's first implementation of multiple touchmonitors with one PC for Windows 98 in a POS application.'' Elo's technical support of the Xn design, and the company's ability to supply product worldwide were also contributing factors in winning the business at Xn, a subsidiary of CheckOut Holdings Ltd., a POS OEM based in the UK. Growth in Self-Service and Kiosk Applications Elo's touch solutions were chosen increasingly during the quarter as the preferred technology in interactive kiosks, according to a recently released Frost & Sullivan report. The report cited 32 percent growth in kiosk applications, fueled largely by the growing number of Internet-based kiosks used in the retail, financial, healthcare, and government markets. Elo's sales reflected this trend, with increased revenue in Japan as a result of providing finished kiosk solutions, and a significant increase in LCD touchmonitors in North America and Europe. ``As demand for self-service kiosks continues to rise in both the private and public sectors, Elo's kiosk touchmonitors have set the industry standard for kiosk specific packaging and stability of outside dimensions, as well as an expectation of high-clarity, stable touchscreen performance that is unaffected by scratches,'' says Liggett. During the quarter, Elo achieved significant design wins worldwide in the multimedia pay phone area, a relatively new addition to kiosk applications. Elo's SecureTouch surface wave touchscreens offer a unique solution for internet public telephony projects by combining the highest light transmission of any touchscreen overlay with a 1/4-inch (6mm) of tempered glass for security and safety. Overall, the high customer response is attributable to Elo's expanded product offering, according to the company. Elo introduced a Phillips 151AX desktop LCD with IntelliTouch surface wave technology, popular in the public access applications, in the third quarter. ``Customers also responded favorably to Elo service, including highly reliable delivery performance with same or next day shipments, which became important as LCD supply tightened,'' Liggett said. Elo Expands Gaming Applications Elo continued to grow in European gaming and amusement applications with several major OEM design wins in the third quarter, and the addition of Suzo International as an Elo distributor in Europe/Middle East/Africa for gaming and amusement applications. Elo's IntelliTouch surface wave technology delivers a high clarity, all-glass touchscreen that continues to work even with ordinary scratches, which makes it ideal for applications ranging from casino slots to coin-operated games in pubs and arcades. Elo Offers CE Driver In the third quarter, Elo began partnering with thin client companies to bring touch solutions to vertical markets like industrial, healthcare, and retail, which resulted in additional sales of touchmonitors. NCD incorporated Elo's new Windows CE driver in ThinStar 200, as did Wyse in its Winterm 3315SE and Winterm 3350SE. ``Elo remains committed to keeping `touch' at the cutting edge of system development, ensuring that Elo's industry leading technologies, touchmonitors, and quality service and support are all available to developers regardless of their platform choice,'' says Liggett. Elo is offering MonitorMouse touchscreen driver for Windows CE 2.1x to the growing number of OEMs and system developers creating hardware products for industrial control, information appliances, point-of-sale and specialty portable or handheld devices that function under Microsoft Corporation's popular Windows CE operating system. Elo's Windows CE 2.1x driver compiled for x86 microprocessor family is the smallest footprint CE touch driver (28k bytes) in the industry. Elo TouchSystems Elo TouchSystems, Inc., global leader in touch technology, develops, manufactures and markets a complete line of touch products that simplify the interface between people and computers. Founded in 1971, Elo has headquarters in Fremont, California and offices worldwide. Elo TouchSystems is a wholly-owned subsidiary of Raychem Corporation (NYSE:RYC - news). For more information on Elo's products and services, call 1-800-ELOTOUCH (1-800-356-8682) or visit Elo's Web site at www.elotouch.com. Electronic mail inquiries should be directed to [email protected]. Raychem Corporation Raychem Corporation of Menlo Park, California, is an international company with approximately 9,000 employees in 49 countries and revenues of $1.8 billion in fiscal 1998. The company utilizes expertise in materials science, electronics and process engineering to develop, manufacture and market high-performance products for electronics OEM businesses, and telecommunications, energy and industrial applications. Information on Raychem is available on the Internet at: www.raychem.com. Contact: Elo TouchSystems, Inc.
Susan Pagani, 510/739-4671
[email protected]
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