Digi-Key Corporation Achieves $1.5 Billion Sales Milestone
News Release from:
16 March 2011
Electronic components distributor Digi-Key Corporation surpassed $1.5 billion in global sales for the first time in 2010, generating a half-billion dollars in the fourth quarter alone. The record-setting total represents a 64 percent year-over-year sales increase for the electronic components distributor.
Design engineers, equipment manufacturers, innovators and hobbyists rely on Digi-Key for both prototype/design and production quantities of electronic components. Digi-Key offers more than 1.8 million products from more than 470 brand-name manufacturers worldwide, as well as engineering know-how, technical expertise and educational information to help customers successfully develop electronics.
Digi-Key is known for its high level of in-stock components, giving it the ability to ship orders immediately to all corners of the globe. The company is also respected for its high level of customer service and support.
“Our sales continue to grow because of our unparalleled presence online and immediate access to products and information,” said Mark Larson, Digi-Key president and COO. “Our customers know we have the products they want and we deliver around the world faster than anyone else.”
2010 Digi-Key sales increased at a rate almost double that of the industry. The strength of Digi-Key’s business model and the fact that it offers the industry’s greatest breadth of electronic components for off-the-shelf delivery have been significant factors in driving Digi-Key’s record breaking international sales growth. The largest annual 2010 sales gains were in Europe (120 percent), Africa (118 percent), Asia-Pacific (115 percent), and the Middle East (78 percent) over 2009 sales.
The company is projected to reach nearly $1.8 billion in worldwide sales for 2011.
Digi-Key is a vital part of the Thief River Falls, Minn., community where it is one of the top employers. As of January 2011, the company employed more than 2,400 people, and plans to add hundreds more this year. To support its growth and customer service focus, Digi-Key hired more than 670 new employees in 2010.
The company publishes TechZone™ Magazine, an industry resource for microcontroller, lighting, wireless and sensor solutions. Digi-Key also offers product training modules, social interaction on Facebook and Twitter, iPhone and Android apps, Technical and Design Support Services and “Another Geek Moment” videos on the Digi-Key YouTube channel.