For Ovation Products, the last three years has been a period of redefinition, development of the brand and an expansion of the product portfolio. We have invested in engineering to develop new products and have grown our sales channels to further penetrate the market in all key regions.
These investments have paid off, as Ovation recently launched two new products -- Grid-Lok Silver manual-to-automatic board support and the Magna-Print universal blade holding system and self-adjusting squeegee technology.
There's no overlooking the fact that the year has been quite a challenging one for the electronics market. But, Ovation's strategic decision to grow the distribution network, broaden our presence in Asia by introducing market-appropriate products for that region and partnering with world-class Asian distributors has enabled our nearly 30% year over year growth, despite the global crisis.
A very important component of Ovation's growth strategy has and continues to be close collaboration with the equipment OEMs, delivering solutions to improve and simplify machine performance even before the delivery to the manufacturer's shop floor. This emphasis on process efficiency and cost optimization is what has made Ovation successful and our customers competitive -- regardless of the economic climate.
For 2013, while uncertainty reigns in many market sectors, Ovation seeks to continue on our growth path with ambitious and achievable objectives.
