Novatel Wireless Named Deloitte Technology Fast 50 Finalist; High-Speed Wireless Industry Growth Helps Increase Revenues by 285%
SAN DIEGO, Aug 09, 2005 (BUSINESS WIRE) -- Novatel Wireless, Inc. (Nasdaq:NVTL), a leading provider of wireless broadband access solutions, has been named to Deloitte's prestigious Technology Fast 50 Program for San Diego, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services firms. Rankings are based on the percentage revenue growth over five years from 2000-2004.
"To make Deloitte's Technology Fast 50, companies within San Diego must have had tremendous revenue growth during the last five years," said Helen Adams, partner, Technology, Media & Telecommunications, Deloitte & Touche LLP. "Deloitte applauds Novatel Wireless for having the long-term vision to develop technologies that change the way we work and play."
"We are honored to receive this recognition from Deloitte. This is a testament to our forward-looking vision and the hard work of all of our employees," said Peter Leparulo, chief executive officer for Novatel Wireless. "Our efforts will continue to focus on bringing improved business communications and productivity to the wireless industry. We look forward to driving the innovation and development of 3G broadband access solutions over the coming years."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2004, must be public or private companies headquartered in North America, and be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
Winners of the 15 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
About Novatel Wireless, Inc.
Novatel Wireless, Inc. is a leading provider of wireless broadband access solutions. Novatel Wireless' Merlin(TM) PC Cards, Expedite(TM) Embedded Modems, Freedom Box(TM) Ruggedized Modems, MobiLink(TM) Communications Software Suite, Ovation(TM) 3G Multimedia Application Console and Conversa(TM) Software Suite enable high-speed wireless access to personal, corporate and public information. 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. (NVTLG)
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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.
(C) 2005 Novatel Wireless. All rights reserved. The Novatel Wireless logo, Merlin, Expedite, Freedom Box and MobiLink are trademarks of Novatel Wireless, Inc. Other product or service names mentioned herein are the trademarks of their respective owners.
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 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.
SOURCE: Novatel Wireless, Inc.
For Novatel Wireless LEWIS PR Katie Assar/Noah Dye, 619-516-2559 email@example.com
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