CTIA WIRELESS I.T. & ENTERTAINMENT 2007, SAN FRANCISCO, CA - Smith Micro Software, Inc. (NASDAQ: SMSI), a leading developer and marketer of innovative software solutions and services for the wireless market, today announced that it has been named to the influential Deloitte & Touche "Wireless Fast 50" Program, a ranking of the 50 fastest growing wireless companies by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on annual revenue growth over a five-year period from 2002 to 2006.
"We are a winner within winners and are honored to be named to Deloitte's Wireless Fast 50 pre-eminent technology award program," said William W. Smith, Jr., President and CEO, Smith Micro Software, Inc. "The growth we have demonstrated over the past five years reflects our strategy to focus on the needs of our customers, enter new markets, and source new and innovative products. Our product strategy has helped to drive the expansion of our customer base worldwide and we believe the upcoming launch of the Revue wireless multimedia product line will provide additional opportunities for Smith Micro."
"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. "Our first-ever Deloitte Wireless Fast 50 award program underscores the potential for both innovation and business performance in this evolving sector. Smith Micro Software has demonstrated sustained growth while navigating constant change, and is a beacon of a promising future for the wireless industry."
Smith Micro's increase in revenues of 664% from 2002 to 2006 resulted in a 27th ranking in the Wireless Fast 50. The company was recently ranked #10 in the prestigious Deloitte & Touche "Fast 50" Program for Orange County, CA, a ranking of the 50 fastest-growing technology companies in the region.
To qualify for the Wireless Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006. They must own proprietary wireless technology or proprietary wireless intellectual property that contributes to a significant portion of their operating revenues or devote a significant proportion of revenues to the research and development of wireless technology. Using other companies' wireless technology or intellectual property in a unique way does not qualify.
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.
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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.
About Smith Micro Software, Inc.:
Smith Micro Software, Inc., headquartered in Aliso Viejo, California, with offices in Europe and Asia, develops and markets wireless multimedia and communications solutions, mobile device management products, image and data compression solutions and many award winning software products. Smith Micro's complete line of products is available through Smith Micro's Enterprise, Telcom & OEM 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 about Smith Micro, please visit www.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 financial prospects and projections, the company's ability to increase its business, and the anticipated timing and financial performance of new products and potential acquisitions. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are new and changing technologies, customer acceptance of those technologies, fluctuations or cancellations in orders from customers, 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 presented in any forward-looking statements. Smith Micro assumes no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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