Good News!
Com21 Ranked No. 4 Fastest-Growing Public Company in Silicon Valley; Broadband Access Provider Makes Top 10 List
Business Wire - May 25, 1999 14:11
MILPITAS, Calif.--(BUSINESS WIRE)--May 25, 1999--Com21, Inc. (Nasdaq: CMTO), a leading provider of communication solutions for the broadband access market, was named the 4th fastest growing public company in Silicon Valley for 1998 by The San Jose and Silicon Valley Business Journal. The survey, conducted annually in May, ranks the top 100 companies in the area to profile and award the Top 10 fastest-growing public companies headquartered in Silicon Valley. The ranking is determined by percentage growth of annual revenues from 1996 through 1998.
To qualify for list consideration, companies must be public and headquartered in Silicon Valley -- which The Business Journal defines as the counties of Santa Clara, Santa Cruz, and San Mateo (south of Highway 92) plus the cities of Fremont, Newark and Union City.
Com21 made the Top 10 list, capturing the number four position, in Silicon Valley's hotbed of technology surpassing 96 other companies listed for the coveted title. Annual revenues for Com21 in 1998 increased to $48.1 million from $15.6 million in 1997. Respectively, revenues increased to $15.6 million from $1 million in 1996.
"We are excited to be named as one of Silicon Valley's fastest growing companies," said Pete Fenner, Com21's president and CEO. "This region is home to some of the largest, most innovative, fastest-growing firms in the world, and we're delighted to be recognized alongside e-BAY Inc., Excite Inc., and Yahoo Inc., who made the Top 10 list."
"Com21's domestic and international operations have equally accounted for 50 percent of annual revenues for 1998," added Fenner. "We have become a worldwide leader in the broadband access market in such a short time with half of our growth attributed to international market penetration."
Com21 is profiled in the May 21 issue of The San Jose and Silicon Valley Business Journal.
About Com21
Com21, Inc., is a leading global provider of broadband access solutions for delivering high-speed Internet access. The company's products enable cable operators and service providers with the abilities to provide high-speed, cost-effective Internet access to corporate telecommuters, small businesses, home offices and residential users. Com21 is ranked as the No. 1 cable modem supplier in Europe based on a 1998 survey conducted by California-based market research firm RHK (Ryan Hankin Kent). Com21 is the third largest supplier of cable modem technology worldwide with 126,000 modems shipped through March 31, 1999 based on independent market research studies conducted by GartnerGroup's Dataquest (1H'98), The Dell'Oro Group, and Cahners In-Stat Research Group. Com21 ComPORT(R) cable modems are commercially deployed worldwide in cable systems passing 9.8 million households.
Founded in 1992, Com21 stock is publicly traded on Nasdaq under the symbol CMTO. The ISO 9001 certified company is headquartered in Milpitas, California, and maintains international sales and support locations in Canada, Germany, Asia, Latin America and The Netherlands. For more information, visit Com21's web site @ www.com21.com.
Safe Harbor Act Clause
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections. These forward-looking statements include statements related to: the ability of Com21's two products: ComUNITYAccess(R) System and DOXport(TM) Series 1000 cable modems to continue to meet marketing, technology and customer demands. Actual results may differ materially due to a number of factors, including numerous technological, operational and financial challenges associated with deploying, manufacturing, marketing distributing and servicing broadband products. Additionally, these forward-looking statements also include statements relating to financial and market performance as discussed within the press release. The matters discussed in this press release also involve risks and uncertainties concerning Com21's products and services described in Com21's filings with the Securities and Exchange Commission (SEC). In particular see the risk factors described in the Company's Form 10K for the fiscal year ended December 31, 1998, and Form 10Q for the fiscal year ended March 31, 1999. Com21 assumes no obligation to update the forward-looking information contained in this press release.
Note to Editors: Com21, Inc.(R), ComUNITY ACCESS(R) System, and NMAPS, are registered trademarks or trademarks of Com21, Inc., Milpitas, California, U.S.A.
CONTACT: Com21 Public Relations
Mia Bradway, 408/953-9787 / 408/953-9299
mbradway@com21.com
www.com21.com
or
Text 100 Public Relations
Fiona Dennis / Antonia Christie, +44(0) 181 242 4112 / 4123
Fax: +44(0)181 735 3122 / 3123
fionad@text100.co.uk / antoniac@text100.co.uk
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