Airvana, a leading provider of mobile broadband network infrastructure products, has been named to Deloitte's 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 the percentage fiscal year revenue growth over five years from 2002-2006.
Airvana's President and CEO Randy Battat, credits consumers' strong demand for mobile broadband services for the company's 3,268 percent revenue growth during the past five years. "The rapid adoption of mobile broadband services has become a major growth engine for the wireless industry," Battat said. "We look forward to making continued contributions to the industry through the introduction of new products such as our femtocells."
"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 awards underscore the potential for both innovation and business performance in this evolving sector. These companies have achieved sustained growth while navigating constant change, and are beacons of a promising future for the wireless industry."
Airvana's increase in revenues of 3,628 percent from 2002 to 2006 resulted in a 13 ranking in the Wireless Fast 50.
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.
About Airvana
Airvana is a leading provider of network infrastructure products used by wireless operators to provide mobile broadband services. Airvana's software and hardware products enable wireless networks to deliver broadband-quality multimedia services to mobile phones, laptop computers and other mobile devices. These services include Internet access, e-mail, music downloads, video, IP-TV, gaming, push-to-talk and voice-over-IP. Airvana's solutions enable new services and deliver carrier-grade mobility, scalability and reliability with relatively low operating and capital costs.
Worldwide, Airvana's mobile broadband systems are deployed on six continents in 16 major networks by industry-leading service providers who demand high standards of carrier-class performance. Airvana is headquartered in Chelmsford, MA, USA. For more information, please visit the company's Web site at http://www.airvana.com/
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
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.
Airvana Safe Harbor Statement
Any statements in this press release about future expectations, plans and prospects for Airvana, including without limitation statements about expectations related to the Company's future performance constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements typically contain the words "believes," "anticipates," "plans," "expects," "will" and similar expressions. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including without limitation the highly competitive and rapidly evolving market in which Airvana competes, Airvana's limited operating history, the fluctuation of its past operating results and its reliance on sales through Nortel Networks for a significant portion of its revenues and product and service billings and other factors discussed in Airvana's filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Airvana's views as of the date of this press release. Airvana anticipates that subsequent events and developments may cause its views to change. However, while Airvana may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Airvana's views as of any date subsequent to the date of this press release.