KING OF PRUSSIA, Pa., Aug. 30, 2004 (PRIMEZONE) -- Neoware Systems (Nasdaq:NWRE), the leading supplier of award-winning software, services, and appliances for thin client computing, today announced that Fortune Magazine has named Neoware America's eighth fastest growing company based upon the Company's performance over the past three years. Neoware received this prestigious honor in the September issue of Fortune Magazine, published by Time Warner, Inc., as part of the magazine's annual "100 Fastest Growing Companies" cover story.
Fortune's editors analyzed U.S. companies with a minimum market cap of $50 million, at least $50 million in revenues over the past four quarters, and 20% or better annual growth in sales and earnings per share over the past three years. Neoware's three-year annual growth rate of 70% for revenues, 47% total return, and 76% earnings per share increase clinched the eighth spot on Fortune's list of America's 100 Fastest Growing Companies.
"To join Fortune's Top 10 Fastest Growing Companies is a testament to the benefits of Neoware thin client computing," commented Michael Kantrowitz, Chairman and CEO of Neoware Systems. "It shows that Neoware is the right choice for organizations concerned about security, manageability, reliability, and cost, in industries such as retail, healthcare, transportation, hospitality, government, financial, and manufacturing."
Neoware's thin client computing is the sensible and increasingly popular alternative to business PCs. With Neoware, applications run on centrally managed servers, and users securely access them across a network using sleek thin client desktop or tablet-style appliances that have no hard drives, CDs, fans or other moving parts. In the past year an increasing number of forward-thinking organizations, including Air Canada, CVS Pharmacy, Cook County Circuit Court, Federated Department Stores, and Independence Air have replaced thousands of desktops PCs with Neoware software and thin client appliances, in order to gain IT environments that are:
- Secure, with immunity from standard PC viruses. - Manageable, with central administration that eliminates the need to travel from desk to desk to administer PCs. - Reliable, with the ability to "lock" desktops, disabling the ability to introduce new software or make configuration changes. - Affordable, costing up to one fourth the initial price of a typical business PC while running all existing PC applications, with even greater savings over time. - Obsolete-free, because thin client appliances can last up to four times longer than PCs.
Fortune magazine's 100 Fastest Growing Companies article can be found in the September 2004 issue of Fortune magazine, and online at http://www.Fortune.com.
About Neoware
Neoware's software, services, and thin client appliances make computing more secure, manageable, reliable and affordable by enabling global enterprises to fully leverage server-based computing. By incorporating open, standards-based technologies and eliminating the obsolescence that is built into standard PC architectures, Neoware provides enterprises with increased flexibility and choice, as well as lower up-front and total costs.
Neoware's software products enable enterprises to gain control of their desktops, and to integrate mainframe, midrange, UNIX and Linux applications with Windows(r) and the web. Neoware's thin client appliances enable enterprises to run applications on servers, and display them across wired or wireless networks on secure, managed, reliable appliances that cost as little as one fourth the price of today's typical business PC. Neoware services enable corporations to benefit from server-based computing with training and end-to-end support.
Neoware's products are available worldwide from IBM, as well as from select, knowledgeable resellers. More information about Neoware can be found on the Web at http://www.neoware.com or via email at invest@neoware.com. Neoware is based in King of Prussia, PA.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding: the benefits of Neoware's products for customers and the growth of the thin client segment of the PC market. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in any such forward-looking statement include acceptance of our thin client products, pricing pressures, rapid technological changes in the industry, growth of the Appliance Computing market, increased competition, our ability to attract and retain qualified personnel, adverse changes in general economic conditions in the U.S. and internationally and political and economic uncertainties associated with current world events. These and other risks are detailed from time to time in Neoware's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its report on Form 10-K for its fiscal year ended June 30, 2003 and Forms 10-Q for the quarters ended September 30, 2003 and December 31, 2003.
Neoware, ThinPC and TeemTalk are trademarks of Neoware Systems, Inc. All other names products and services are trademarks or registered trademarks of their respective holders.