Company Ranked 10th in Deloitte's 'Technology Fast 50' and Demonstrated 917% Revenue Growth Over the Last 5 Years
ALISO VIEJO, CA - Smith Micro Software, Inc. (NASDAQ:SMSI), a leading developer and marketer of Smart Connectivity solutions and services for the wireless market, today announced its #10 position in the prestigious Technology Fast 50 Program for Orange County, CA, a ranking of the 50 fastest-growing technology, media, telecommunications, and life sciences companies in the area by Deloitte LLP, one of the nation's leading professional services organizations.
Rankings are based on the percentage revenue growth over five years from 2003-2007. Smith Micro Software has ranked on Deloitte's 'Technology Fast 50' list for the third consecutive year.
Smith Micro Software's CEO William W. Smith, Jr. credits its innovative approach and unique service offering with the company's 917 percent revenue growth from 2003 - 2007. Smith said, "We are honored to be named to the prestigious Orange County Technology Fast 50, and proud to be recognized as one of the leading technology companies in one of the most vibrant technology and economic communities in the country."
Smith concluded: "Making Deloitte's Technology Fast 50 Rising Star is a testament to a company's vision that has resulted in exceptional growth over three years. We are committed to delivering technologies that change the way we work and play and delivering on the promise of market longevity."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property 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 or intellectual property in a unique way does not qualify.
Companies from the 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, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
About Smith Micro Software, Inc.:
Smith Micro Software, Inc., headquartered in Aliso Viejo, California, with offices in Europe and Asia, develops smart communication solutions that enable people to connect, share, distribute and manage information over wireless and wired networks. Smith Micro's complete lines of products are available through Smith Micro's Wireless, OEM, and Enterprise Sales groups and direct from its websites, retail and value-added resellers (VARs). Smith Micro's common stock trades on the NASDAQ Global Market under the symbol SMSI. For more information, please visit: http://www.smithmicro.com.
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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.
Safe Harbor Statement: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation forward-looking statements relating to the company's net revenues guidance for fiscal 2008, its financial prospects and other projections of its performance, the company's ability to increase its business and the anticipated timing and financial performance of its new products and potential acquisitions. Among the important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are changes in demand for the company's products from its customers and their end-users, new and changing technologies, customer acceptance of those technologies, new and continuing adverse economic conditions, and the company's ability to compete effectively with other software companies. These and other factors discussed in the company's filings with the Securities and Exchange Commission, including its filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management regarding future events and business performance as of the date of this release, and the company does not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.
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