Forbes File...
Tuesday October 24, 7:05 am Eastern Time
Press Release
Somera Selected by Forbes Magazine as ``Up and Comer'' in Its 200 Best Small Companies Feature
SANTA BARBARA, Calif.--(BUSINESS WIRE)--Oct. 24, 2000--Somera Communications Inc. (Nasdaq:SMRA - news), a leading global provider of telecommunications and Internet infrastructure equipment and support services, today announced that Forbes Magazine has included Somera in its ``Up and Comers'' list in the annual 200 Best Small Companies feature article. The ranking is featured in the Oct. 30, 2000 issue of Forbes magazine.
Forbes included Somera on the list of ``Up and Comers'' based upon analyst expectations for earnings, sales, net income and liquidity. Since going public in November 1999, Somera has experienced eight consecutive quarters of earnings growth. For the first nine months of 2000, Somera Communications reported an increase in revenues of 72 percent to $149.5 million over the same period last year and net income of $18.0 million. Somera recently reported third quarter results with net income increasing 96 percent compared to the third quarter of 1999.
``We're delighted to receive this recognition in Forbes Magazine,'' said Dan Firestone, CEO and Chairman of Somera. ``The telecommunications and Internet service provider market segments are experiencing explosive growth and Somera has positioned itself to capitalize on that growth. Our goal is to enable these companies to build, expand, and maintain their networks faster, and more cost effectively. We will continue to lead the industry in providing our customers with the infrastructure support services they require to compete in the global marketplace.'' |
