Melbourne, Florida AirNet Communications Corporation announced today a record-setting year in 1998, in which more than $70 million in contracts were signed. In addition, last year also saw AirNet garnering the coveted GSM World Award for Best Technical Innovation of the year from the GSM Association, along with a ranking as a "Hot U.S. Technology Company" by Facts Online, a leading source of financial and business intelligence for the investment community.
"It's been a great year for AirNet," remarked Dr. Lee Hamilton, president and CEO of AirNet. "Not only have we continued to successfully deploy our GSM infrastructure products in the field, but our revenues have taken off as service providers realize that AirNet's 'backhaul free' solution offers the best possible business case for wireless infrastructure. Our reputation for being a technical innovator with a superior value proposition has been recognized by the GSM Association and is constantly reaffirmed by the operators who choose our products."
The World Award for Best Technical Innovation was bestowed for AirNet's pioneering work in GSM infrastructure development, which resulted in a economically compelling Base Station Subsystem (BSS) capable of providing concentrated capacity and distributed coverage in a low-cost tiered network architecture.
This award is especially significant because it was the first time Best Technical Innovation has been awarded for GSM infrastructure and the first time a North American company has won for any technical product. The award was presented to AirNet at last year's GSM World Congress in Cannes, France.
"The AirNet success story is a re-affirmation of our hard-earned position as 'the GSM Economy Experts'. As our customers have grown and prospered AirNet has grown," stated Glenn Ehley, AirNet's vice president of Sales and Marketing. "The loyalty our customers continue to show is extremely gratifying. We're thankful to them for the role they have played in enabling our success."
Significant 1998 contract wins for AirNet include:
AirNet uses advanced software-defined broadband radio technology and its patented AirSite® Backhaul Free Base Station to give GSM service operators the combination of initial coverage and capacity that's optimal for them. The AirSite does this by efficiently reusing the PCS spectrum the service operator has already licensed to communicate with the rest of the BSS rather than backhauling through costly wireline or fixed microwave links. In addition, AirNet's solution grows smoothly with no wasted equipment investment and no need to continually relocate towers and revise RF engineering plans.
AirNet Communications Corporation, based in Melbourne, Florida, designs, manufactures, distributes, and supports profitable GSM-based (GSM 900, GSM-1800, and GSM-1900) wireless infrastructure solutions. AirNet's products include the AirSite Backhaul Free Base Station, winner of the 1998 GSM World Award for Best Technical Innovation.
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This press release contains forward-looking statements that reflect management's expectations, assumptions, and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. The Company's consolidated results and the forward-looking statements could be affected by many factors, including general economic conditions in the markets in which the Company operates; economic developments that have a particular adverse effect on one or more of the markets served by the Company; the ability to execute management's strategic plan; or the stability of key markets for communications products. Additional information concerning the factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements is contained from time to time in the Company's SEC filings. Copies of such filings may be obtained, when available, by contacting the Company or the SEC.
AirNet® and AirSite® are registered with the U.S. Patent and Trademark Office. AdaptaCell, Backhaul Free, and We're Ready for Anything are trademarks of AirNet Communications Corporation. Other names are registered trademarks or trademarks of their respective companies or organizations.
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