ESTeem Wireless Modems Receives U.S. Department of Commerce's Export Achievement Certificate.
KENNEWICK, Wash. -- Electronic Systems Technology, Inc. (EST) (OTCBB:ELST); dba ESTeem Wireless Modems, a manufacturer of the ESTeem[R] product line of wireless modems, was awarded an Export Achievement Award on October 2, 2008 at the Smartmap Expo held at the Three Rivers Convention Center, Kennewick, WA. The U.S. Department of Commerce's Export Achievement Certificate recognizes companies that are business clients of the Commerce Department's U.S. Commercial Service, and have successfully entered the international marketplace. Foreign operations account for 30% of ESTeem Wireless Modem's total 2007 net revenues. This is an increase of 82% over foreign exports for 2006.Within the foreign operations segment, Latin America accounts for the majority of ESTeem's market with 58% of export sales going to countries such as Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Mexico, Peru, Puerto Rico, Uruguay, and Venezuela. All foreign operations for the company are based in the United States with ESTeem products and accessories sold primarily through foreign resellers, as well as to end customers directly. Other regions in ESTeem's foreign operations segment include Asia at 17%, Africa at 10%, Canada with 9% and Europe with 6%.
"The ESTeem product line provides long range wireless networks for applications not served by existing conventional communication systems for the industrial, public safety and government markets domestically and internationally," stated Tom Kirchner, President, at his speech on Thursday.
Janet Bauermeister, Director, U.S. Commercial Service for the U.S. Department of Commerce remarked, "[ESTeem's] multiple markets, rapid growth and solid market share played a significant role in the nomination [for this year's Export Achievement Award]."
Electronic Systems Technology, a publicly held corporation since 1984, was the first company to develop the wireless modem and receive the United States and Canadian patents for this technology.
Contact EST Marketing for more details.
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| Publication: | Business Wire |
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| Date: | Oct 8, 2008 |
| Words: | 298 |
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