, Inc. announced that the company closed its highest revenue quarter to date, achieving an impressive 30% increase over last year's quarter, and is on track to achieve 50% growth year to year. Overwhelming industry acceptance has enabled EGT to experience this record growth. Growing faster than competing encoder manufacturers, EGT has become a serious contender in the digital video marketplace. The increased revenues, in conjunction with new products and new channels of distribution, highlight EGT's continued market success in digital video processing equipment. Growth in Product Line
This month, EGT delivered the 4000th channel of MPEG-2 encoding since it began shipping product in September 2003. EGT has accomplished this success by delivering the highest video quality in the market via its first-class line of high-quality MPEG encoders and supporting products that have the feature sets and price-points their customers are looking for. Creating a new model for developing programmable equipment has enabled EGT to build innovative and adaptable products that can be changed or upgraded easily and cost-effectively. Moreover, one of the principal reasons customers are selecting EGT over the competition is superior video quality. Over the past two years, EGT has expanded its product line to include four distinct MPEG encoders and six supporting products. The newest product, ALTO, an AVC MPEG-4 encoder, was featured in September at the IBC Exhibition in Amsterdam. Growth in Distribution and Global Footprint
Building on a successful relationship with BigBand Networks, EGT has added new channels of distribution with OEM agreements and market leading resellers like SeaChange International signing up. The company has added international resellers expanding their global footprint to now include customers in more than 14 countries. Continued Growth in Cable Sector, with Expansion in Telco, Satellite
Initially selling to the cable industry, EGT has encoders in five of the top ten MSOs in the U.S. and five of the top ten Canadian MSOs. EGT has also expanded into the Telco, Satellite and Internet Distribution markets. Continued growth and expansion into these customer segments has established EGT on the industry radar.
"We have worked hard to build EGT into a premier manufacturer of video equipment," said Bill Hogan, COO of EGT. "As a result, EGT has gained industry-wide acceptance while taking market share away from the competition."
"EGT's stellar growth is directly attributable to our people," said Greg Nicholson, CEO of EGT. "We have a world class team of scientists and engineers who are passionate about developing the best-in-class video processing software and hardware. That makes my job easier." Combined, the EGT technical staff has over 100 patents on signal processing. EGT's personnel has grown by more than 60% prompting a move to a new, premium location in mid-town Atlanta.
EGT is a graduate of the Georgia Tech's Advanced Technology Development Center (ATDC), a nationally recognized science and technology incubator that helps Georgia entrepreneurs launch and build successful companies. To date, the privately held corporation has successfully completed three rounds of funding securing investments from leading venture capital firms.
"EGT continues to expand its product line to address the growing digital video marketplace," said Steve Nussrallah, General Partner at Noro-Moseley Partners. "And, as video service providers finalize their next generation video roadmaps, EGT will be positioned to capture a significant market share."