A market for innovation

THE HUMAN ADVANTAGE: Astro-Med manufactures ruggedized technical products for use in many industries, but one of its major competitive advantages is the experience of its staff, including, from left, David Kortick, product-development manager; Mike Natalizia, vice president of research and development; and Tony Lima, senior research and development manager. / PBN PHOTO/MICHAEL SALERNO
THE HUMAN ADVANTAGE: Astro-Med manufactures ruggedized technical products for use in many industries, but one of its major competitive advantages is the experience of its staff, including, from left, David Kortick, product-development manager; Mike Natalizia, vice president of research and development; and Tony Lima, senior research and development manager. / PBN PHOTO/MICHAEL SALERNO

In manufacturing, sometimes it can feel as though the person with the latest and greatest mousetrap will always come out on top. But according to Greg Woods, CEO of Astro-Med Inc., true innovation is about developing products that the market needs.

“Our process [is in place] to make sure we’re developing products at a good pace, and that it’s not only neat technology that engineers want to work on, but more importantly, things that our customers are telling us they can really use,” said Woods, who helms an enterprise with more than $88 million in revenue.

The company’s focused attention on customers and its commitment to following through on strategic initiatives have helped it achieve steady gains over its 44 years in business.

Make no mistake: this doesn’t mean Astro-Med’s recent efforts are any less impressive. In the past year, new products have spiked revenue growth of nearly $20 million, with employee numbers rising in tandem (304 to 341). These recent products include the Kiaro! D color ink-jet label printer, which enables customers to print on-demand labels that comply with global transport regulations (such as for the food and beverage industry). “It’s very sophisticated technology,” said Woods.

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In early summer, the company’s ToughWriter 5 Wi-Fi printer gained AirPrint certification from Apple. Pilots and flight crews can rely on this printer and an iPad instead of bulky binders of maps and charts. In its data-acquisition division, Astro-Med has released the DMX-800, a lightweight, highly configurable portable system for researchers and engineers to capture and review data. Finally, Daxus, another portable high-speed data-acquisition system, was released in the second quarter.

Woods was as equally quick to point out the human-capital assets as he was to underscore Astro-Med’s commitment to efficiency. “We’ve got a number of people in the 15 to 30 years of service range,” said Woods. “Some of our competitors may not have that depth of experience.” •

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