Novatel Wireless Announces New Board Member
SAN DIEGO - March 10, 2004 - Novatel Wireless, Inc. (Nasdaq: NVTL), a provider of broadband wireless access solutions, has appointed David Werner to its board of directors and as Chairman of the Audit Committee. Mr. Werner brings over 29 years of finance and operating experience to Novatel Wireless and has served as a principal financial officer of numerous companies.
Mr. Werner currently is a partner at Engineered Components, an acquisition and business development company serving the engineered components market. Prior to co-founding Engineered Components, he was executive vice president and chief financial officer for Day Runner Inc., a publicly traded company
Mr. Werner's earlier experience includes serving as executive vice president and board member of Kaynar Technologies Inc. and vice president and chief financial officer for Microdot Inc. He also worked in various senior finance and accounting positions for Lear Siegler Inc., a multi-billion dollar business serving the aerospace, automotive and diversified markets and the accounting firm of Peat Marwick Mitchell & Co, now called KPMG. Mr. Werner is a certified public accountant and received a bachelor's of science in business administration and an MBA both from the University of Southern California.
"We are delighted to welcome David to our Board of Directors," said Peter Leparulo, chief executive officer of Novatel Wireless. "His extensive financial, accounting and M&A experience significantly enhances and rounds out the knowledge base of our Board. He has strong operating and finance expertise, which will be extremely valuable as we continue to position Novatel Wireless for solid growth as a global leader in the broadband wireless data industry."
"I am excited to join Novatel Wireless and look forward to helping them enhance their business model as they position for further growth nationally and internationally," said David Werner.
ABOUT NOVATEL WIRELESS, INC.
Novatel Wireless, Inc. is a provider of broadband wireless access solutions. Novatel Wireless' Merlin PC Cards, Expedite Embedded Modems, and Freedom Box Ruggedized Modems enable high-speed wireless access to personal, corporate and public information via portable computers, handheld devices and vertical market applications. The company delivers innovative 2.5G and 3G solutions to operators, distributors and vertical markets worldwide. Headquartered in San Diego, California, Novatel Wireless is listed on Nasdaq: NVTL.
© 2004 Novatel Wireless. All rights reserved. The Novatel Wireless logo, Merlin, Expedite and MobiLink are trademarks of Novatel Wireless, Inc. All other brands, products and company names mentioned herein are trademarks of their respective holders.
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, continued acceptance of and market demand for Novatel Wireless' products, projections of future results and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.