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Ottawa, Ontario, Canada, 2011/09/14 - Design 1st, Inc., a product development company, announced record breaking, FY2010 financial results. In FY2010, Design 1st achieved significant revenue growth, recording 93% growth with a 3x increase in profitability since FY2007 - Design1st.com.
"Continued Demand for New Product Innovation Drives Business Growth"
In 2010, revenue from clients in North America accounted for 49% of the total revenue. In addition to fulfilling a strong demand for its services in Ottawa and in Canada, the company continues to expand its customer base in other geographical markets and in a wider spectrum of industries. In FY2010 the company signed 40 different clients for a total of 79 projects over the year. This marks a 45% increase in projects signed over FY2009 and shows a significant positive trend since FY2007 when the company recorded 21 different clients and a total of 34 projects.
“We are seeing demand in Ottawa and other innovative centers to bring large numbers of new products into the marketplace,” said Kevin Bailey, Founder and President of Design 1st. “Business teams see the value of hiring an expert design team to bring their products to market quickly, efficiently and at costs 40% lower than maintaining internal design teams.”
“This says a lot about the understanding of full R&D costing by project managers faced with managing technically challenging product designs and the diversity of industry, skills and entrepreneurial passion that exists locally,” added Bailey.
Notable Ottawa clients for Design 1st include: BelAir Networks, Nortel, Mitel, Lumenara, Fidus Systems, March Networks, Nanometrics, Control Micro, Xmark, Stanley Healthcare, C-Com Satellite Systems, ProDrive Systems, Authentipath, Brytech, We-Vibe, Gesturetek, Canadian Blood Services, International Datacasting, Guardian Mobility, Ceyba, Nimcat Networks, Sustainable Energy, and GoldenEar Technologies.
About Design 1st
Design 1st was OCRI’s 2011 Solution of the Year Winner. Design 1st (design1st.com) is a product development company with a team of highly talented Industrial Design and Mechanical Engineers who help inventors, start-ups and growing corporations bring new innovative products to market. Specialists in physical product design and mechanical engineering development, Design 1st takes clients from a napkin sketch concept to a production-ready product. Working closely with strategic marketing and development teams Design 1st manages the detailed design, prototyping, verification testing and documentation. Design 1st is based in Ottawa, Canada with satellite offices in Montreal and Vancouver.
The Design 1st name and the Design 1st logo are trademarks of Design 1st Inc. Other registered and unregistered trademarks are the property of their respective owners.
© Copyright 2011 Design 1st Inc. All rights reserved. Information is subject to change without notice.