FreeWave keeps bonus string intact

BOULDER – Radio manufacturer FreeWave Technologies Inc. has had 16 straight years of profitability and growth, meaning twice yearly bonuses for employees, the company said Monday.

Boulder-based FreeWave also increased its work force by about 9 percent in 2010. Between 50 and 100 employees work at the privately held company, said Terri Douglas, a spokeswoman. The company does not disclose specific employee numbers.

The bonus is based on profitability and growth and is distributed in both cash and contributions to employee-managed pension plans, the company said in a statement.

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“Our employees are the lifeblood of our organization and are dedicated to serving our customers in the highest quality manner,” Ashish Sharma, chief marketing officer and general manager of products. “We believe our success is a direct result of their contributions, and we are happy to reward them through these semi-annual bonus payouts among other benefits.”

The company received $113 million in 2007 from TA Associates, a private equity and buyout firm in Boston. It makes radios for the military and for the oil and gas, utilities, security, recreation and agriculture industries.