Kingston Technology: Fiscal 2010 Financial Results

Kingston Technology Corporation announced that its global revenues in 2010 soared to a record $6.5 billion (U.S.), the highest ever in company history.

The $2.4 billion increase in sales over 2009 was attributed primarily to a rise in average selling price (ASP) and increased shipment volume.

"Our company was able to take advantage of an improving global economy as well as catch some lucky breaks to achieve our best sales year ever in 2010," said David Sun, co-founder, Kingston. "We are very fortunate to have dedicated and hard-working employees who work tirelessly alongside our partners and vendors to make sure that Kingston’s customers are treated with respect and always taken care of."

Kingston saw a rise in ASP for most of its product lines in 2010 particularly during first quarter, a trend which continued for the remainder of the year. Demand was also healthy from both corporate end customers and consumers, as evidenced by growth in the OEM and Flash business divisions.

Kingston’s revenues were $4.1 billion in 2009. The company’s second-highest grossing year was in 2007, when sales reached $4.5 billion. Kingston first reached the $1 billion mark in global sales in 1995, surpassing it with $2 billion in 2004 and $3 billion in 2005.