Signal Processing Technologies has spent approximately $1.7 million to increase production of its high-end specialty integrated circuits at its Colorado Springs plant.
SPT purchased $1.5 million in manufacturing equipment in the last three months, including a $1 million tester from Hewlett Packard, one of the SPT’s customers. SPT supplies HP with components for its test equipment.
SPT has also spent $250,000 to turn 9,000 square feet of the building its parent company owns, just off of Garden of the Gods Road, into additional office space. The growing company only has approximately 5,000 square feet left in the former Digital Equipment Corporation building in which to expand. Richard Mintle, director of sales and marketing, said that earlier projections of the building being large enough to accommodate SPT’s growth for another three years may have to be revised.
The space is needed to accommodate demand for new and existing product lines. The company, a wholly owned subsidiary of Tokyo-based, Toko Inc., experienced 68% growth in revenues for fiscal year 1996, which ended in March, according to Mintle. Growth for FY97 is up over last year but is not quite as high pitched due to a lack of space to produce the digital-to-analog converters, analog-to-digital converters, and comparators that are the company’s main product focus. Comparators are used in test equipment to compare voltages and tell which is greater.
Since the first of the calendar year, SPT has announced five to six new products, including a 10-bit triple video digital-to-analog converter that can be used cost-effectively in a wide range of video applications due to its low power and low-cost manufacturing.
The company employs 95 people, including two design groups of Toko engineers. It needs to hire 11 engineers and three part-time operations workers.