| | BEI Technologies, Inc. (the "Company" or "Technologies") is an established manufacturer of electronic sensors, motors, actuators, rotary optical encoders, linear encoders with associated digital readouts (DROs), and motion control products used for factory and office automation, medical equipment, military, aviation and space systems. In addition, sales to manufacturers of transportation equipment, including automobiles, trucks and off-road equipment, have become a significant addition to the Company's business in recent years. The Company's micromachined quartz rate sensors are being used in advanced vehicle stability control systems and a significant increase in the production of those sensors had been in progress from the middle of 1998. The Company also manufactures electronic steering wheel position sensors, seat-memory modules, throttle position sensors, inertial navigation systems, and other devices used in transportation systems.
During the fiscal year 2004, BEI recorded net income of $11.6 million or $0.80 per share. The Company continues investing in proprietary technologies and manufacturing processes that position BEI to experience increasing growth in strategic industries. Revenue during the first quarter of fiscal 2005 increased 11.8% over the prior year first quarter.
The Company's brand names are well recognized in their respective markets, and the Company possesses a portfolio of unique technological capabilities that are being renewed and expanded through ongoing research and development. BEI's automotive sensors for advanced safety applications have grown significantly. The Company manufactures a MicroElectroMechanical Systems (MEMS) quartz yaw rate sensor, the GyroChip® as well as a steering sensor. These sensors are employed in vehicle dynamic control systems that help prevent spinout and reduce the chance for rollover in a growing number of automotive platforms. Worldwide demand for the GyroChip to our customers has grown. To address this growth, the Company's annual production capacity continues to increase. BEI's sensors can be found in GM, Ford, Daimler Chrysler, BMW, Volkswagen, Volvo, Audi, Nissan, Jaguar and other makes of cars. | |
