DURHAM, N.C., April 7 /PRNewswire/ -- ShopBot Tools, Inc., North America's
leading low-cost, high-value manufacturer of computer numerically controlled
(CNC) tools, recorded a 26 percent increase in sales during first quarter of
2004 when compared to first quarter 2003. The first quarter included the best
January sales numbers in company history.
"We were affected by the post-9/11 economy," said Martha Barbour, business
manager of ShopBot Tools, Inc. "But last October we saw a sudden increase in
sales. To begin 2004 with such an incredible first quarter is very exciting
Approximately 6,600 CNC tools were sold in the United States and Canada
during 2003 -- most were sold for more that $100,000. The CNC industry was
hurt by the downturn in manufacturing production between 2000 and 2003.
However, it appears that ShopBot Tools gained market share during this period.
The company now has nearly seven percent of the entire North American CNC tool
market and 66 percent of the CNC tool market selling for less than $10,000.
ShopBots, manufactured by ShopBot Tools, Inc. of Durham, N.C., are CNC
machines that use computer-controlled cutting heads to shape wood, stone or
About ShopBot Tools, Inc:
ShopBot Tools, Inc. is based in Durham, N.C. and designs, manufactures and
provides technical support for low-cost, high-value computer numerically
controlled (CNC) cutting machines. ShopBot was founded by CEO Ted Hall,
Ph.D., a Duke University professor in neuroscience, who developed the tool
while building plywood boats as a hobby. After several years of development,
the company opened in 1997 -- selling tools out of Dr. Hall's barn. With
nearly 3,000 ShopBots in 45 countries, ShopBot is now one of the largest
producers of CNC flatbed routers in North America. It currently employees 30
people in the Durham, N.C. area. For more information
visit: www.shopbottools.com .
SOURCE ShopBot Tools, Inc.