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SND Electronics Projects an Increase in Revenue to Over $275 Million in 2000
Revised Forecast Reflects an Improved Brazilian Economy, Continued Demand Worldwide for Passive and Active Components and Strong Sales in Latin America of Intel Products Greenwich, Conn. -- August 1, 2000 -- SND Electronics, one of the world's largest open market and franchised distributors of electronic components and computer peripherals, has revised its estimated revenues for 2000 from $250 to $275 million dollars. According to SND CEO Christopher R. DeNisco, the projected increase is related to the performance of the company's Open Market Distribution Division which has benefited from the continued strong demand worldwide for both passive and active components. Another factor is the renewed growth of SND's Franchised Latin American Division, due, DeNisco said, to the rebound of Brazil's economy and a greater demand in Latin America for computer peripherals distributed by SND, including CPUs from the Intel Corp. and motherboards manufactured by local Brazilian companies. SND, whose international headquarters are in Greenwich, Conn., is the leading distributor in Latin America of Intel products, as well as Samsung monitors, Microsoft OEM software, Palm personal organizers, APC products and those of many other manufacturers. Many economists attribute Brazil's resurgence to improved international confidence in the domestic economy, declining interest rates and healthy global demand for its products and resources. Brazil reported 3.1 percent growth in the first quarter of 2000. "SND has tremendous confidence in its two divisions," said DeNisco. "Because we have one of the most experienced sales and purchasing departments in the industry, our Open Market Division is thriving. Combine that with the experience and talent of our Latin American staff and you have a recipe for success. The two divisions have always complemented each other. We have long believed that Latin America was a sleeping giant and that it would emerge as an important international marketplace. Our investment and strategy are now paying off." The International Data Corp. has reported that Latin America's computer industry is growing more than 25 percent a year-almost double the 15 percent growth rate in the U.S. About 1.3 million computers are sold in Brazil annually. Intel recently moved the base of its Latin American operations to Sao Paulo and said that it would double its Brazilian sales staff each year in anticipation of an increase in business. "Brazil has 175 million people," said Craig Barrett, Intel's president and CEO. "It's the biggest potential market; it just makes sense to centralize in this area." "SND's relationship with Intel has been mutually beneficial and also good for the Brazilian economy," said DeNisco. "We look forward to helping spread the growth of technology in Latin America as computers become as ubiquitous in Brazil as they are in the U.S." About SND Electronics Founded in 1973, SND Electronics provides products and services to the world's major OEMs (Original Equipment Manufacturers), distributors, CEMs (Contract Electronics Manufacturers), and Intel's IPDs (Intel Products Dealers). SND Franchised Division is the largest Intel and Microsoft OEM distributor in Latin America. SND's Open Market Component Distribution Division offers a broad range of services, from stocking allocated and obsolete components for next day delivery to utilizing Internet inventory management software in order to quickly locate products. SND also offers 24x7 customer service; same-day shipping; Just-In-Time shipping programs; tape and reeling services; bar-coding; custom labeling, and the programming of EPROMs. The company's global warehouse facilities are climate and anti-static controlled. All incoming merchandise is 100 percent inspected in full accordance with ISO 9002 standards. Headquartered in Greenwich, Connecticut, SND has U.S. sales and purchasing offices in Alabama, California, Florida, Hawaii, New York, Massachusetts, Puerto Rico, Florida and Texas. Internationally, the company maintains facilities in Sao Paulo, Brazil; Toronto, Canada; San Salvador, El Salvador; Guatemala City, Guatemala, and Guadalajara and Monterrey, Mexico. For more information, please call 203-532-1212 or visit the company's Web site at www.snd.com. |