Smith Micro Attributes Consistent Revenue Growth to an Innovative Product Portfolio that Resonates with the Wireless 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 ranks 210 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 2004-2008. Smith Micro Software grew 639 percent during this period.
"We are once again honored to be named to the prestigious Deloitte Technology Fast 500™ list for the third consecutive year," said William Smith, Jr., President and CEO of Smith Micro Software. "Thanks to the dedication and hard work of Smith Micro employees throughout the world, we continue to be recognized for our growth performance, despite the current economic conditions that we all operate in today. Our strategy is to deliver products and services that enrich the experience people have with their mobile devices, computer systems and wireless networks, for work and personal use, anywhere in the world. Once again, this demonstrates our company's ability to deliver value to our existing customers and to create growth through product innovation and expansion into new markets."
"Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate Smith Micro Software on this accomplishment and their continued successes."
"With its impressive and consistent growth, Smith Micro Software has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor Smith Micro Software for its achievement."
This is Smith Micro Software's third consecutive year on the Deloitte's Technology Fast 500™ list since making its debut in 2006.
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 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.
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 CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. 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., headquartered in Aliso Viejo, California, with offices in Europe and Asia, develops mobility solutions that enable seamless broadband connectivity and next-generation media and mobile convergence products over wireless networks. Smith Micro Software's complete lines of products are available through its sales groups, and direct from its websites, retail distributors and value-added resellers. Smith Micro Software's common stock trades on the NASDAQ Global Market under the symbol SMSI. For more information, please visit: http://www.smithmicro.com.
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.