SMART Technologies (SMT) (NASDAQ:SMT) designs interactive technology products, and its leading product is the SMART board for the education sector. It produced the first interactive white board in the world and has sold over 1.6 million worldwide. 
Hardware and software technology spending in the education sector has grown. Gartner, a market research firm, has estimated that spending in this sector will grow from $16.5 billion in 2009 to $18.6 billion in 2012. Futuresource consulting, a market research firm, estimates the market for interactive whiteboards to be $1.1 billion in 2009 and grow to $1.8 billion in 2012, a 19.5% CAGR. 
For the FY2009 with year ended 31 March 2010, the company had $648.0 million in revenue, up 38.4% from $468.2 million in revenue for FY2008. Furthermore, the company had $142.0 million in net income for FY2009, an increase from a net loss of $106.6 million for FY2008.