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Kingston 2004 YTD Sales Soar to $2.45 Billion
Digital Media, OEM, and ValueRAM Business Spikes Cause Memory Maker to Exceed Expected Earnings
Fountain Valley, CA -- (March 7, 2005), — Kingston® Technology
Corporation, the world's largest independent memory module manufacturer, today announced total 2004 revenue increased by 38%, year
over year, to 2.45 billion, marking the highest revenue figure the company has achieved since its founding in 1987.
"Going beyond our estimated $2 Billion for '04 is outstanding," said John Tu, co-founder, Kingston®;. "We've held true to
our philosophy of empowering employees to do their best - and this in turn has supported our close partnerships with memory
suppliers and customers. I'm honored that our commitment to providing the highest levels of product quality and service is
being so richly rewarded," continued Tu.
Passing the $2 Billion Milestone
After exceeding the first $1 billion mark in 1995, Kingston was on track to reach its first $2 billion in sales for 2004.
Excelling beyond original expectations, Kingston finished 2004 at $2.45 billion. This is attributable to performance increases
in several key business areas as well as greater attention focused on newly developing memory market segments and accelerated
global production expansion.
Over the past year, Kingston placed greater emphasis on its digital media products, and the line has experienced exceptional
growth, with year-over-year revenue up almost 350 percent. Both the ValueRAM® product line of industry-standard memory and
Kingston PC OEM business have outperformed estimated sales and Kingston's HyperX® brand of memory has made significant strides
in the high-performance gaming market. With facilities in the United States, China, Malaysia, and Taiwan, Kingston's worldwide
manufacturing has been steadily expanding, particularly in Shanghai, China, where plans are on track to open a new 260,000
square foot facility this year. This translates into a 300-percent increase in manufacturing facilities in China.
Since the company's founding, Kingston has maintained a reputation for quality and expertise in the memory industry, and cites
its strong relationships with employees, vendors and customers as key to its success. "Our business is about relationships,"
said David Sun, co-founder, Kingston. "We have grown into the memory company we are today as a direct result of our people,
partners and customers," added Sun.
Starting out with only two employees and $120,000 in annual sales its first year, Kingston has grown to over 2,000 employees
worldwide.
About Kingston Technology Company, Inc.
Founded in 1987, Kingston Technology Corporation offers a wide range of quality memory products and services designed for
increased productivity and overall system performance. Through its ownership of Kingston Technology Company Inc., Payton
Technology Corp., and Advanced Validation Labs Inc. (AVL), Kingston Technology Corporation is one of the world's leading memory
module manufacturing, module validation, semiconductor packaging and test companies in the world.
# # #
Kingston and the Kingston logo are registered trademarks of Kingston Technology Corporation. All rights reserved.
All other marks may be the property of their respective titleholders.
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