For the second quarter ended June 30, 2011, Hemisphere GPS achieved revenue growth of 29%, reporting $20.1 million in revenues, compared to$15.6 million in the second quarter of 2010 with strong growth in each of the Company’s segments and general economic recovery across the Company’s primary global markets throughout 2011. “Strong grain prices, net farm income and improving consumer confidence, along with a commitment to continued innovation in our product line, contributed to record revenues in the last half of 2010 and continued strength in the first half of 2011 where revenues have grown by 35% compared to 2010” stated Steven Koles, President and CEO of Hemisphere GPS. “The current strength of our global agriculture markets, and a strong long-term outlook, is driven by global population growth, limited arable land, the need for increased productivity and output, and a relatively low global penetration of precision technologies such as GPS guidance, heading solutions, spray controls and auto-steering.” Read More
