Toronto, ON Canada (PressExposure) November 17, 2008 -- GAO RFID Inc. (www.GAORFID.com) reports that its sales revenues in the third quarter increased by 185.07% dramatically higher than the corresponding quarter of the previous year. This year's growth saw an amazing second quarter growth of 55.61% compared with the first quarter of 2008, and a further growth of 7.7% in the third quarter. All indications point to continued significant growth for this year and next.
"Naturally, GAO RFID is very glad to see this significant growth in sales particularly in light of the current economic times," says Dr. Frank Gao, CEO of GAO Group, "and we feel we are well positioned for a continuing bright future."
Excluding the area of automobile immobilization, ABI, a market research firm, predicts that the RFID market will experience a 15% compound annual growth rate between now and 2013, for a market value of $8.2 billion. With the continuing bright outlook of RFID and the strong strength of GAO RFID Inc., the 4th quarter will present a continuing increase despite the potential influence of the woes of the global economy.
GAO RFID Inc. is one of world's most influential suppliers of Radio Frequency Identification (RFID) hardware and solutions to end users worldwide. It delivers solutions that consist of highly integrated hardware and software and professional services. Products and services of GAO RFID are easily customized for use in Asset Tracking, Health care, Supply Chain & Logistics, Event Management, Access Control, Livestock Tracking, Inventory Control & Management, Field Service, Maintenance and Document Authentication.
Asset Tracking，Health care，Access Control and Livestock Tracking have all played key roles in providing sales income leading to this year's success. Asset Tracking can be used to track or locate high priced or mission critical items. On the Healthcare front tracking of hospital assets curbs excess expenditures and ensures security and access control. RFID products for Livestock provide efficient methods of identifying animals and efficiently maintaining data.
GAO RFID Inc, as a member of GAO Group, has come to be a considerable market force in only a few years as it has quickly and continuously grown to offer the industries widest product choices at highly competitive pricing and maintains a well-qualified technical staffs that understands customers' needs. Market penetration has reached over 400 companies in over 40 countries. About GAO RFID Inc. GAO RFID Inc. is a leading provider of Radio Frequency Identification (RFID) hardware and solutions to end users worldwide. GAO RFID combines best of breed with low cost RFID readers, RFID tags and enabling-RFID software. We have a wide variety of RFID readers, tags and antennas in all the RFID technologies, Low Frequency (LF), High Frequency (HF), Ultra High Frequency (UHF, Gen 2) as well as Active and Semi-Passive. GAO RFID's products and services are easily customized for use in Asset Tracking, Health care, Supply Chain & Logistics, Event Management, Access Control, Livestock Tracking, Inventory Control & Management, Field Service, Maintenance and Document Authentication.