Crestron Electronics, Inc. closed the books on its 2007-08 fiscal year recently, posting its 20th consecutive year of double digit growth. The maker of commercial and residential control and automation systems finished the year with a record breaking month, with sales 50% above the previous month. The nearly 20% revenue growth for 2007-08 brings Crestron total annual sales to $400 million.
“Despite an increasingly competitive marketplace, challenging economy, and rising costs, we continue to grow—creating jobs and helping fuel the economy,” said Randy Klein, executive vice president of Crestron Electronics. “Our industry is strong, and the future looks brighter than ever.”
In fact, Crestron, a NJ-based company, situated in the shadow of the Manhattan skyline, continues to manufacture all of its 1,000 high tech products locally. The company is hiring at a record pace and added three buildings to its local infrastructure in the last 12 months. Additionally, Crestron has opened more than a dozen new worldwide sales and support offices throughout the U.S., Canada, Europe, Asia, and the Middle East.
Expanding its worldwide headquarters campus in Rockleigh, NJ, Crestron bought a new administrative building from Volvo and built a 100,000 square foot research center. The company also added a massive distribution center in Carlstadt, NJ, from which orders are shipped to every continent around the globe.
The research center houses more than 350 full time hardware and software engineers who are innovating technology and developing new products. Crestron introduced 70 new products in June, coinciding with the largest commercial audio/video trade show in Las Vegas where the company exhibited and was a sponsor.
“Many companies grow by acquisition; we grow through innovation,” explains Klein. “We add value and create opportunities. We’re focused on growing our industry and the economy, not investor portfolios. Crestron is a private company so we have that freedom, and with that freedom we feel we have a great responsibility to support our employees and partners.”
The Consumer Electronics Association (CEA) is celebrating the dedication, innovation, and success of Crestron. The CEA is launching its national grass roots bus tour, recognizing American industry and manufacturing leadership. The bus, carrying press, government officials, and business leaders, will visit companies that continue to operate domestically and propel the national economy.
“Crestron is our premier stop on the tour,” says Matthew Shaffer, CEA International Trade. “They represent the very best in American innovation and ingenuity. When other companies are going off shore or moving for real estate or tax benefits, Crestron remains loyal to its employees and its roots.”