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Atheros Communications Ranked as
Silicon Valley’s Fastest Growing Private Company by the Silicon Valley / San
Jose Business Journal
Fast 50 Award Recognizes an
Incredible Three-Year Span of Growth for Atheros
SUNNYVALE, Calif., Oct. 18, 2004
– Atheros Communications, Inc. (NASDAQ: ATHR), a leading developer of
advanced wireless LAN (WLAN) chipsets, today announced that it has been
recognized as the fastest growing private company in Silicon Valley by the
editors of the Silicon Valley / San Jose Business Journal and by the accountants
of PricewaterhouseCoopers. The rankings were determined by measuring private
companies’ overall three-year revenue percentage growth rate occurring between
2001 and 2003. Award winners were announced at the Fast 50 reception event at
the Fairmont Hotel in San Jose on October 14.
Atheros achieved the Fast 50 list’s top ranking by growing
its revenues 4,671% from 2001 to 2003. Last year the company posted revenues of
$87.3 million, up from $1.8 million in 2001.
“Atheros is one of Silicon Valley’s remarkable success
stories over the last few years,” said Susan Futterman, managing editor of the
Silicon Valley / San Jose Business Journal. “The company was formed back in 1998
by Stanford Professor Dr. Teresa Meng and Stanford President John Hennessy.
Teresa had a vision for developing a low-cost,
high-performance radio-on-a-chip. Atheros, a pioneer in wireless technology, has
delivered on that vision and, along the way, pioneered many wireless technology
firsts.”
Atheros completed an initial public offering in February
2004, which raised net proceeds of $133.5 million. Revenue for the first six
months of 2004 was $89.7 million, exceeding the $87.3 million recorded for the
full twelve-month period of 2003. Atheros employed just over 250 people as of
October 1, 2004.
Atheros continues to bring new technologies to the market
that improve throughput and range of wireless networking products. The company
has introduced new products such as the market’s first single-chip 802.11g and
single-chip 802.11a/b/g WLAN solutions. The company has also made several
announcements recently about new customer products such as new notebook PCs, and
wireless routers and PC cards featuring its Super G®, Super AG® and/or Atheros
XR™ technologies. As a result of the company’s rapid rate of innovation and
high-performance products, Atheros is recognized as a technology leader and one
of the key players in the WLAN market.
“It’s a real honor to be named number one by the Silicon
Valley / San Jose Business Journal,” said Craig Barratt, president and chief
executive officer of Atheros Communications. “Much of the credit for the
company’s success can be attributed to the talented and hard-working employees
that make up Atheros coupled with the invaluable support we received from our
investors including August Capital, Fidelity Management & Research, Foundation
Capital and New Enterprise Associates. We look forward to continuing to innovate
in the wireless market and making Atheros a rewarding environment for our
employees.”
About Atheros Communications, Inc.
Atheros Communications is a leading developer of
semiconductor system solutions for wireless communications products. Atheros
combines its wireless systems expertise with high-performance radio frequency
(RF), mixed signal and digital semiconductor design skills to provide highly
integrated chipsets that are manufacturable on low-cost, standard complementary
metal-oxide semiconductor (CMOS) processes. Atheros technology is being used by
a broad base of leading customers, including personal computer and networking
equipment manufacturers. For more information, visit
www.atheros.com or send email to
info@atheros.com.
# # #
Atheros, the Atheros logo, Atheros XR, Super AG® and Super G are trademarks of Atheros Communications, Inc. All other
trademarks mentioned in this document are the sole property of their respective
owners.
FORWARD-LOOKING STATEMENTS:
Except for the historical information
contained herein, the matters set forth in this press release, including
statements regarding the features, performance and benefits of Atheros’
products, and the future plans, growth and prospects of Atheros, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ materially,
including, but not limited to, whether the Atheros’ existing and new products
will be successful in the global wireless market and whether Atheros is able to
continue to grow its business; development, manufacturing and distribution
difficulties; the effects of competition; general economic conditions, and other
risks detailed in Atheros’ Quarterly Report on Form 10-Q for the quarter ended
June 30, 2004 as filed with the SEC and in other reports filed with the SEC by
Atheros from time to time. These forward-looking statements speak only as of the
date hereof. Atheros disclaims any obligation to update these forward-looking
statements.
Cheryl Patstone, 408-773-5344,
cheryl@atheros.com or Greg Wood, A&R Partners, 650-762-2838,
gwood@arpartners.com.
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