Smith & Associates Reports Record Sales for 2013, Looks on Further Expansion
After thirty years in business, this leading independent distributor moves into 2014 with its strongest momentum to date.
HOUSTON, TX – (January 16, 2014) – Smith & Associates, the largest independent distributor of electronic components, today announces the achievement of its highest revenues in the thirty years since the company’s founding. Leveraging its broad range of inventory service programs, global reach, and market penetration, Smith reached US$586 million in annual revenue for 2013.
“In May of 1984, Smith got its start, and – after thirty years – we have come staggeringly far from our roots selling components from a living room using two phone lines,” said Marc Barnhill, Smith’s Chief Trading Officer. “We have evolved into a worldwide presence with the reach and depth to support customers anywhere in the world, with any needs. Our thirty years in the supply chain have shaped us into the market leader we are today, and we look forward to seeing what else we can achieve in the years ahead.”
2013 was a year in which Smith focused on expansion and improvement. In particular, Smith opened a new sales office in the thriving tech hub of Austin, Texas. This office opening added to the strong domestic presence the company had already maintained, and offered new resources for augmenting the support of key local customers. Looking toward 2014, this and other Smith sales offices are gearing for growth to further a high level of customer service and localized support as the company continues to evaluate additional markets and regions around the world for expansion.
Additionally, the company’s business with new and long-term customers benefited from initiatives to assure continual improvement in product quality. Smith’s Hong Kong logistics hub gained accreditation under the ISO/IEC 17025 standard for laboratory testing competency during July, and – in December – the quality inspectors of Smith’s Houston headquarters underwent certification to the CCCI-102 standard for counterfeit components inspectors. Smith will move forward with attaining certification for the rest of its global inspectors during 2014.
“After 30 years of supporting the world’s top electronics manufacturers, we know the importance of always considering how we can be better,” said Matt Hartzell, Chief Operating Officer at Smith. “Every department at Smith plays a part in delivering the best product to our customers, and so every man and woman on the Smith team is challenged to be the best in the industry at what they do. On the heels of a record year that’s a big challenge, but we are up to it.”
About Smith & Associates
Founded in Houston in 1984, Smith & Associates is a leader in the independent distribution of semiconductors and electronic components to electronics and high-tech manufacturers. Smith offers shortage sourcing for commodity and obsolete parts, innovative purchasing and inventory management solutions, redistribution of excess inventory, and component stocking for warranty and repair programs.
A privately-held company, Smith & Associates employs more than 300 people worldwide, with annual revenue in excess of US $586 million. Smith's regional hubs in Houston, Hong Kong, and Amsterdam are ISO certified. In addition, sales and purchasing offices are located in Austin, Silicon Valley, Guadalajara, New York, Shanghai, Shenzhen, Seoul, Singapore, and Taipei. For more information, see http://www.smithweb.com/ or, to reach a Smith representative 24 hours a day, please call: 1.800.HOUSTON or +1 713.430.3000.
For more information, contact:
Smith & Associates, V.P. of Marketing