Cybra Corp Predicts Significant Growth in RFID Revenues

Cybra Corp, a supplier of bar code and RFID technologies for IBM Power Systems and other major computing platforms, says that it expects significant growth in its principal RFID end markets through 2011. This anticipated growth in key RFID markets, such as apparel and distribution, is expected to more than double the company's RFID product and services revenues in 2010. This growth, coupled with increased customer interest in its traditional Auto-Id products, should lead to overall revenue improvement of as much as 40% year over year, says Cybra.

“We have seen a significant growth in interest for RFID technologies over the past few months, particularly in the apparel industry,” said CEO Harold Brand. Of Cybra’s thousands of customers worldwide the largest market segment is apparel: “We believe that Cybra remains uniquely poised as, to the best of our knowledge, the only provider of RFID software solutions designed specifically for the industry-leading IBM Power Systems platform, as companies move from speculative pilot programs to real-world implementation.”

Global market research firm RNCOS indicated in April 2010 that it expects the global RFID market to grow at a 28%+ CAGR and generate US$10.7 billion in revenues by 2013. Among the largest segments is apparel, which analyst Robert Baird & Co. predicts will be a major driver of growth within the industry of around 40%, compared to 20%-30% growth for the rest of the industry.

Recent new customers include Elite Medical Supplies of Buffalo, NY, which is using Cybra’s EdgeMagic software to track their inventory to meet Medicare and Medicaid mandates designed to reduce fraud, and Blue and White Foods, which will use the industry-leading software to reduce errors through improved inventory management in multiple warehouse locations and on direct to store delivery trucks.

“After making significant improvements to our leading MarkMagic and EdgeMagic software during the economic downturn, Cybra is better positioned than ever for rapid growth in the RFID and bar coding industries,” added Brand. “A number of additional active deals are in the pipeline and are expected to be announced shortly as we continue to build value for shareholders.”