Mar 1, 2008 12:00 PM
Precor Sets Another Revenue Record
Woodinville, Wa — Precor booked its sixth consecutive year of record-setting revenue last year, generating sales of $411 million, a 17 percent increase, the company announced last month.
The revenue growth represents double-digit increases in every aspect of Precor's business, including North American commercial and consumer divisions, and an international division anchored by commercial business in Europe.
Precor's 2007 revenue performance follows a 12 percent revenue increase in 2006 to $349 million. Precor has generated increased revenues each year since 2000, resulting in a 240 percent increase in sales since 2000.
“Precor is committed to innovation, and expanding our market vision based on identifying and meeting customer needs,” Precor President Paul Byrne said in a statement from the company. “Successive year-upon-year revenue gains are an indication that we're focused on the right things and reflect the momentum we're building globally.”
Byrne added that although successful new products launched in 2007 are the most visible evidence of Precor's focus on innovation, the company also introduced innovations within the company.
“The end result is that in technology services, and home and commercial fitness equipment markets, Precor brought a broader range of products and services to market than ever before with unprecedented quality and speed,” Byrne says.
Precor launched more new products in 2007 than any year in the company's 27-year history.
The new Adaptive Motion Trainer (AMT) for commercial fitness facilities is the apex of Precor product innovation in 2007, Byrne says.
“Unquestionably, the AMT is our most significant new product since we introduced the elliptical cross trainer to the world in 1995,” he says.
An all-new cardio equipment platform that allows users to instantly choose and change stride motion and speed, the AMT earned Product of the Year honors from the international fitness industry.
Precor also launched more than 260 Fitness By Precor workout facilities in Hilton Hotels in 2007. A major co-branding initiative, Fitness By Precor features a full complement of strength, cardio and entertainment equipment.
Also in 2007, Precor expanded its Woodinville, WA, headquarters and manufacturing campus by adding a 95,000-square-foot operations facility. Precor now employs more than 550 people at the five-building, 270,000-square-foot campus and nearby distribution facility.
