Silicom Ltd. (NASDAQ:SILC)
today announced that one of the world’s largest networking security companies, which for the past two years has been using Silicom’s 10Gbps modules in one of its appliance product lines, has now standardized on additional Silicom’s modules for both the current and an additional appliance product line. The Company expects that sales of these new wins will ramp up its revenues from this customer to approximately $4 million per year.
The customer will now use within two of its appliance product lines a variety of modules which Silicom developed as part of its SETAC program, including both 10Gbps and 1Gbps modules with and without bypass in copper and fiber.
“We are proud that this premier networking security leader views Silicom products as strategic enablers, as evidenced by its design of an increasing range of Silicom solutions into its growing portfolio of advanced security appliances,” commented Shaike Orbach, Silicom’s President and CEO. “When this customer became one of our first volume users of networking modules, we were confident that they would become volume users of additional Silicom products, and this has now come to fruition. Furthermore, the customer is currently considering working with Silicom on additional products, including intelligent solutions and additional modules. We fully expect that their use of Silicom solutions will continue to increase, representing a reliable and continuously growing driver of our revenues in the years to come.”
Mr. Orbach added, “The fact that this customer’s usage of products has grown and developed in line with our expectation confirms our ‘read’ of the market and our understanding of its true needs. This insight, more than any other advantage, continues to be the key to our success, assuring that we apply our considerable technology and agility assets to the most vexing pain points of some of the industry’s largest players. We believe that this ability will enable us to continue accelerating our growth in the future.”