The fourth quarter generated a bonanza of $500m. It’s a record for the Thief River Falls-based company and it represents a 64 percent year-over-year sales increase.
"Our sales continue to grow because of our unparalleled presence online and immediate access to products and information,” said Mark Larson, Digi-Key president and COO. “Our customers know we have the products they want and we deliver around the world faster than anyone else.”
Digi-Key says its sales increased in 2010 at a rate almost double that of the industry. The largest annual 2010 sales gains were in Europe (120 percent), Africa (118 percent), Asia-Pacific (115 percent), and the Middle East (78 percent) over 2009 sales.
The company is projected to reach nearly $1.8 billion in worldwide sales for 2011.
Digi-Key is a vital part of the Thief River Falls, Minn., community where it is one of the top employers. As of January 2011, the company employed more than 2,400 people. It plans to add hundreds more this year. To support its growth and customer service focus, Digi-Key hired more than 670 new employees in 2010.