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And Now for Some Good News

GlobeRanger and Sirit have brought some welcome financial optimism to the RFID industry.
Posted By Mark Roberti, 03.11.2009
In a recent installment of "Beyond the Beyond," one of Wired's blogs, author Bruce Sterling wrote, "With all of this bad news showering down on the RFID industry, we have fielded questions about the industry's ability to survive on a long-term basis" (see Arphid Watch: Could the RFID Biz Collapse?). Sterling concluded that it will survive, and I agree—but the fact that a technology site is even raising the issue is disheartening.

Still, it's hard to get too down about some of the recent bad news, because there is always good news to provide a counterbalance. This morning, in fact, word came that GlobeRanger, a provider of edge solutions, saw a 40 percent revenue rise in 2008, while raising $8.3 million in additional funding (see GlobeRanger Corporation Closes $8.3 Million Series C Round: Building On 40% Revenue Growth in 2008.)

What's more, Sirit, a provider of hardware solutions, today reported its strongest quarter ever. Total revenue reached $6.3 million, the company indicated—up from the $5.4 million reported in the fourth quarter of 2007.

The coming year, obviously, will present challenges for all companies, including those in the RFID industry. But Sirit's guidance was optimistic. "The company continues to demonstrate its ability to quickly adapt to challenging situations," said the firm's chief financial officer, Anastasia Chodarcewicz, in a statement, "and we are confident in our long-term future and success." Sirit's CEO, Norbert Dawalibi, added that the company was making progress in electronic vehicle identification markets outside the United States.

It's nice to hear some good news for a change.

Mark Roberti is the founder and editor of RFID Journal. If you would like to comment on this article, click on the link below. To read more of Mark's opinions, click here or click here.

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