VARI-L COMPANY NAMED TO COLORADO FAST 50, MICROCAP1000
INDEX; DESIGNATIONS REFLECT COMPANY'S OUTSTANDING
GROWTH OVER PAST FIVE YEARS
DENVER, Oct 7, 1999 /PRNewswire via COMTEX/ -- Vari-L Company, Inc.
(Nasdaq: VARL), a leading provider of advanced components for the
wireless telecommunications industry, today announced it has been named
to Deloitte & Touche's prestigious "Fast 50" list, an annual ranking of
the 50 fastest-growing public and private technology companies in
Colorado.
Rankings are based on total revenue growth for the five-year period
from 1994 to 1998. Vari-L reported revenue of $18.1 million in 1998, an
150% increase over revenue of $7.2 million in 1994. The Company's final
ranking among the list of 50 will be announced Oct. 8 in a special
insert to The Denver Business Journal.
Separately, Vari-L announced it has been chosen for inclusion in the
MicroCap 1000 Index, a newly established aggregate of the stock price
performance of premiere companies with equity capitalization under $500
million. One thousand companies were selected according to a set of
criteria including growth characteristics, financial stability, market
liquidity and insider ownership. The Index gained 18.2% in the second
quarter of 1999, besting the Dow Jones Industrial Average as well as
the Standard & Poors 500 and Russell 2000 indexes.
Dave Sherman, president and CEO of Vari-L, said, "We are very pleased
by these distinctions and feel they are a tribute to the Company's
exceptional success since our initial public offering in 1994. Colorado
has emerged in recent years as a hotbed of high-growth technology
companies, so making the Fast 50 list is especially gratifying given
the intense level of competition. We would like to acknowledge our
employees for their invaluable contributions to Vari-L's success and
pledge our best efforts to achieving similar strong results going
forward."
Through its headquarters in Denver, Vari-L designs, manufactures and
markets radio- and microwave-frequency signal source and processing
components used in the wireless telecommunications industry. Vari-L's
patented products are used in a variety of commercial, subscriber and
military/aerospace applications, including emerging digital and
broadband communications technologies. Vari-L serves a diverse customer
base comprised of some of the world's leading technology companies,
including California Microwave, Ericsson, Harris, Hughes, IBM, Lockheed
Martin, Lucent Technologies, Mitsubishi, Motorola, NEC, Nokia, Northrop
Grumman, Raytheon, Samsung, Siemens, Stanford Telecom and Wireless
Access.
Some of the statements contained in this news release are
forward-looking statements. The accuracy of these statements cannot be
guaranteed as they are subject to a variety of risks, including but not
limited to the success of the products into which the Company's
products are integrated, governmental action relating to wireless
communications licensing and regulation, internal projections as to the
demand for certain types of technological innovation, competitive
products and pricing, the success of new product development efforts,
the timely release for production and the delivery of products under
existing contracts, future economic conditions generally, as well as
other factors.
SOURCE Vari-L Company, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Dave Sherman, President, or Jon Clark, Chief Financial Officer
of Vari-L Company, Inc., 303-371-1560, jclark@vari-l.com; or
Jay Pfeiffer or
Matt Dickerson of Pfeiffer Public Relations, Inc.,
303-393-7044,
matt@pfeifferpr.com, for Vari-L Company, Inc.
(VARL)
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