Humor & Quirks 
Radiant Systems Expands Global Reach with Opening of New Office in Shanghai
ATLANTA--([ BUSINESS WIRE ])--Radiant Systems, Inc. (Nasdaq: RADS) announced today that it has formed a Wholly Owned Foreign Entity (WOFE) in the People's Republic of China and opened a new direct office in Shanghai as part of the company's continued expansion into new markets around the globe.
"The Chinese market represents more than 100 million middle class consumers and the number is expected to grow to more than 600 million by 2015," said Mark Schoen, president of the international division for Radiant Systems. "In the hospitality industry, for instance, we believe that China can represent an opportunity for Radiant that is equal to the U.S. market over the long run. There are also opportunities for us in retail and in large sports venues."
Radiant has successfully conducted business in China over a number of years, selling systems to local operators and sourcing equipment for its global supply chain from local manufacturers. Radiant and its reseller partners currently have planned deployments for point of sale and back office systems in more than 200 restaurants in China including Paul Bakery and Hop Hing Group which counts Yoshinoya and Dairy Queen among its brands. "Operating and competing in China makes us a stronger company in all of our markets, including the U.S.," said Schoen. "The expectations of the market in terms of price, service and innovation force us to constantly improve our capabilities and challenge our existing ways of doing business."
"Local and foreign restaurant brands operating in China are increasingly looking for sophisticated solutions to manage their consumer transactions at the point of sale and optimize their supply chains from the back office," said Craig Panter, director of Asia Pacific sales for the international division at Radiant Systems and the executive responsible for the new Shanghai office. "In addition to a growing restaurant industry, the Chinese market today represents 100,000 service stations and more than 15,000 convenience stores, so our view of the market will be across Radiant's industries."
About Radiant Systems, Inc.
Headquartered in Atlanta, Radiant Systems, Inc. (Nasdaq: RADS) is a global provider of innovative technology to the hospitality, retail, and entertainment industries. For more than two decades, Radiant's point of sale hardware and software solutions have helped to redefine the consumer experience in more than 100,000 restaurants, retail stores, stadiums, parks, arenas, cinemas, convenience stores, fuel centers and other customer-service venues. Radiant has offices in North America, Europe, Asia and Australia. For more information, visit [ www.radiantsystems.com ].
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company's reliance on a small number of clients for a large portion of its revenues, fluctuations in its quarterly results, its ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.