This article is from page 21 of the 2007-11-20 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 21 JPG
SHANNON-BASED company, Avo- cent International last year recorded a nine per cent increase in profits, according to its latest returns to the Companies Office.
The US-owned company record- ed an increase in profits from $35 million in 2005 to $38.6 million in PAU erey
This is based on turnover of $187 million, compared to $150 million in 2004, an increase of 24 per cent, while operating profit increased from $33 million in 2005 to $44 mil- lion last year.
Avocent is principally engaged in the manufacture, distribution, sales and marketing and research and de- velopment of IT solution products for the European, Middle/East, African and Asian markets.
In 2005, the company paid a divi- dend of $92 million and in Septem- ber of 2006, a further dividend of Oy Ro ne eateyee
In a statement accompanying the accounts, Avocent states that the eroup’s performance during the year “was very strong compared to the previous year’.
The accounts state, “In 2006 the
eroup further consolidated and ex- tended its R&D function in Shannon. The group’s function continues to concentrate on high growth oppor- tunities, continually investing in new product solutions, product enhance- ment and improving manufacturing IMEC E Lea ohne
In relation to the company’s future developments, the accounts state, ‘The company expects to launch new products in 2007 that will increase the group’s share of this market and reduce risk from its competitors.”
The company, which is led by one of the leading members of Atlantic Connectivity Alliance, Kieran Mc- Sweeney, occupies the flagship Shan- non Free Zone property formerly oc- cupied by Tellabs.
78 people are employed in sales, 58 in manufacturing, 33 to general and administration and 33 in Research and Development (R&D).
The accounts show that $20 million was spent on R&D, an increase of $1 million on the 2004 figure.
The accounts also show _ that $824,000 were paid to directors for management services while the ma- jority of the company’s business was done in the EU where $115 million was generated.