Tuesday, June 03, 2008

Armadillo Business

Mesquite firm blasts off - Dallas Business Journal - This article shows Armadillo Aerospace as it transitions to a profitable business:

"Armadillo Aerospace is now operating at a marginal profit. It's no longer all coming out of my pocket," said Carmack, who also co-owns the successful video game development company id Software Inc. "We have eight employees and everyone is getting paid a token wage. I'm going to be thrilled to turn a small profit this year."

The future looks good:

The Rocket Racing League isn't Armadillo's only paying gig. In late 2007, NASA named Armadillo one of a handful of its Innovative Partnerships Program Seed Fund partners. Through the program, Armadillo is working through $500,000 awarded for research and development of its methane-fueled propulsion system, which should supply information and operational data that would potentially further NASA's lunar lander exploration goals, Carmack said.

Armadillo's development team all have full-time day jobs, Carmack said, but two are also employed by Armadillo full time. He has plans to hire two more employees this year.