Kingston Technology Corp., a privately held memory products maker, said Monday that 2004 sales grew 38% to $2.45 billion.
It marks the highest annual revenue for the Fountain Valley-based company since its founding in 1987.
The company, which hit the $1 billion sales mark a decade ago, said revenue grew in part because of the overall rebound in the technology sector. Kingston sells memory modules to some of the biggest computer makers.
It also gained from sales to new memory market segments. Kingston’s digital media products unit grew sales 350% last year, the company said in a release. Kingston makes devices that allow users to store and tranfer hundreds of high-resolution images and data.
Meanwhile, Kingston is expanding in China, where it expects to open a 260,000-square-foot plant in Shanghai this year. The company said the opening would expand its China operations by 300%. It also has plants in Malaysia and Taiwan.
Kingston was founded by President John Tu and Chief Operating Officer David Sun. The founders, known for giving big bonuses to workers, didn’t release other details about their earnings.
The company has 2,000 workers.
