Smith Micro Attributes 430 Percent Growth to Development of Cutting-Edge Connectivity and Mobile Software Solutions that Lead the Way in the Wireless and Technology Industry
ALISO VIEJO, CA - Smith Micro Software, Inc. (NASDAQ: SMSI), a leading developer and marketer of mobility solutions and services for the wireless market, today announced that it ranked number 223 on the Technology Fast 500™, Deloitte LLP's ranking of 500 of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five-year period from 2005-2009. Smith Micro Software grew 430 percent during this period.
Smith Micro Software's president and chief executive officer, William W. Smith, Jr., credits the company's 430% revenue growth to its successful ability in developing mobile solutions that help its customers grow their wireless data service offerings. Smith said, "When you can provide this level of leadership for the largest wireless telecommunications companies in North America, you know that you are on the right growth trajectory for the company, its employees and its shareholders."
"Smith Micro Software and other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth," said Phil Asmundson, vice chairman and Deloitte's U.S. technology, media and telecommunications leader. "Deloitte commends Smith Micro Software for this impressive accomplishment."
"Smith Micro Software has proved itself to be one of the fastest-growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™," said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
Technology Fast 500™ Selection and Qualifying Criteria
Technology Fast 500™ provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500™ website, and public company database research conducted by Deloitte. Technology Fast 500™ award winners for 2010 are selected based on percentage fiscal year revenue growth during the five-year period from 2005 to 2009.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc., are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500™ award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CAD, and current-year operating revenues of at least $5 million USD or CAD. These revenues must have more than doubled between 2005 and 2009. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Smith Micro Software, Inc.:
Smith Micro Software, Inc. creates new possibilities by developing mobile applications and solutions to solve customer problems. Through our insight into the market, we develop new applications that put you in control of your digital lifestyle. Our portfolio of products and services spans Connectivity Management, Communications and Content Management solutions.
To complete Smith Micro's solutions, the company also provides server software applications and services to help its customers manage their software investments.
More information about Smith Micro Software (NASDAQ: SMSI) can be found on smithmicro.com.
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 2010, 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.
Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective companies.
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.