Rincon Technology Experiences 18% Growth in Q1 2010

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Rincon Technology (Rincon), a pioneer in developing innovative investment recovery programs and a global leader in the secondary market for data networking, server/storage and optical transport products, announced today that it achieved gross profit growth of 18% in Q1 2010 over the same period in 2009. This result reinforces its continued pattern of growth and the scalability of its business model.

“These results demonstrate that Rincon’s business offering is 'On Point' to the biggest problem facing our carrier customers which is how to expand capacity to meet the increased bandwidth demand from their customers in a financial marketplace that is reluctant to provide the financing needed to fund that expansion. Rincon’s customers have found that by pairing our investment recovery program, which generates cash from idle assets, with the low cost, high quality, secondary market hardware that Rincon has exclusive access to, allows them to resolve that difficult problem,” says Jason Kelly, Rincon Co-Founder, President and CEO.

“As in the preceding four quarters, our Q1 growth was accomplished without eroding margins and with no customer representing more than 10% of Rincon’s revenue. In addition, our diverse product mix comprised of 69% data, 18% transport, and 13% server/storage, further validates one of Rincon’s key differentiators, which is our ability to offer a varied product mix and industry expertise in the key critical product categories,” reports Michael Bartling, Rincon Co-Founder and EVP of Sales and Purchasing.

For more information about Rincon Technology, please contact Jason Kelly, Co-Founder, President and CEO, at [phone].