Novatel Wireless Climbs Deloitte's Wireless Fast 50 Rankings
SAN DIEGO, Oct 23, 2007 (BUSINESS WIRE) -- Novatel Wireless, Inc., (Nasdaq:NVTL) a leading provider of wireless broadband solutions, today announced it has been named to Deloitte's prestigious Wireless Fast 50 for San Diego, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002 to 2006.
Novatel Wireless earned its #11 position with revenue growth of 655 percent from 2002 - 2006, climbing from a #15 position in the previous year's rankings. The company continues to see increasing demand across all major product lines including its Ovation USB devices, Merlin PC and Express cards and Expedite embedded modems as enterprises and consumers turn to 3G wireless broadband access solutions in place of legacy DSL and landline connections.
"The Fast 50 awards serve as a benchmark for success in a very competitive industry and validates the dedication and hard work of our entire organization," said Rob Hadley, senior vice president, worldwide sales and marketing, Novatel Wireless. "We are proud to receive this distinction for the fifth consecutive year."
"The wireless industry is on the cusp of great changes as new technologies such as WiMax and 3G upend the market, and yet, we are only scratching the surface of what is possible," said Phil Asmundson, vice chairman, U.S. Technology, Media & Entertainment and Telecommunications, Deloitte & Touche USA LLP. "The Deloitte Wireless Fast 50 awards underscore the potential for both innovation and business performance in this evolving sector. These companies have achieved sustained growth while navigating constant change and are beacons of a promising future for the wireless industry."
To be considered for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and at least $5,000,000 in 2006; be headquartered in San Diego County; and be a company who owns proprietary technology or proprietary intellectual property that contributes to a significant portion of its operating revenues, or devotes a significant proportion of revenues to the research and development of technology.
Companies from the Wireless Fast 50 program are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Wireless Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
ABOUT NOVATEL WIRELESS
Novatel Wireless, Inc. is revolutionizing wireless communications. The company is a leader in the design and development of innovative wireless broadband access solutions based on 3G WCDMA (HSDPA & UMTS), CDMA and GSM technologies. Novatel Wireless' Merlin(TM) PC Cards and ExpressCards, Expedite(R) Embedded Modules, MobiLink(TM) Communications Software Suite, Ovation(TM) Fixed Mobile Convergence Products and Conversa(TM) Software Suite enable high-speed wireless access. The company delivers innovative 3G solutions to operators, distributors and vertical markets worldwide. Headquartered in San Diego, California, Novatel Wireless is listed on NASDAQ: NVTL. For more information please visit www.novatelwireless.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
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, new product introductions, continued acceptance of Novatel Wireless' products 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.
(C) 2007 Novatel Wireless. All rights reserved. The Novatel Wireless logo, Merlin, Expedite, MobiLink, Ovation and Conversa are trademarks of Novatel Wireless, Inc. Other product or service names mentioned herein are the trademarks of their respective owners.
SOURCE: Novatel Wireless, Inc.
Nadel Phelan Mike Kelly (831) 440-2403 Michael@nadelphelan.com
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