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By Hank Russell
SCHAUMBURG, IL (July 1) — At the 5 th Annual Omron Technology Conference at the company’s headquarters, panelists discussed the importance of tracking and traceability as it relates to consumer safety, bioterrorism and compliance with federal guidelines.
The previous night, Omron’s President and COO, Craig Bauer, discussed the company’s plans for the future, which is spread over the next ten years. “Our focus is on industrial automation,” he said. “Our planning horizon is the same what the Japanese companies use; it’s longer than what the US companies use.”
Omron Electronics LLC also announced that its parent company, Omron Corporation, reported record revenues and profit figures for the fiscal year ended March 31, 2004. Net sales for the period reached $5.27 billion, an increase of $449 million or 9% over the previous fiscal year. Gross profit margins increased 2.2% from the previous year, to a record-high 41.0%. The company also reached its target goal of achieving a 10% return on equity a full year ahead of its planned target date.
In his talk, he also touched upon the topic for the next day’s conference. “In America, we see trends in quality — traceability and safety, environmental issues — and respond to them with our vision and sensor products,” he said. “Likewise, they look for new applications in what they’re selling.”