(Minneapolis, MN, July 7, 2009) - Digi International® Inc. (NASDAQ: DGII, http://www.digi.com), the leader in wireless M2M , has been named one of "America's 100 Fastest Growing Small Public Companies" by Fortune Small Business.
In the July/August 2009 edition of the magazine, Digi was named number eighty-nine on FSB 100 list of American-based publicly traded companies with annual revenues of less than $200 million and a stock price greater than $1. Among the other criteria for making the ninth annual Fortune Small Business list, companies were ranked according to stock performance and revenue growth over the past three years. This year, the FSB 100 introduced a new requirement that companies must not have experienced any negative growth over the most recent four quarters.
"In good times the FSB 100 constitutes an elite group of small public companies: the best of the best, measured by revenue growth and stock performance over the past three years," write the editors of Fortune Small Business. "But in this Great Recession, their performance is nothing short of miraculous."
The article goes on to explain that the FSB 100 companies outperformed the stock market by a wide margin, with this year's stocks posting an average annual return of 9.8% for the year ended May 31, 2009, compared with an annual loss of 28.6% for the Russell microcap growth index. Technology stocks continued to dominate the FSB 100, with thirty companies appearing on the list, as compared with twenty-five in 2008.
"We are delighted to be included on the Fortune Small Business list and appear among such noteworthy companies," said Joe Dunsmore, Digi's Chief Executive Officer. "This honor validates our strategy of increasing our focus upon wireless solutions. With success in verticals ranging from energy to fleet management, our wireless business has shown steady growth even in the face of the economic downturn."
For more news and information on Digi International® Inc., please visit http://www.digi.com/aboutus/investorrelations/ where you can find the CEO's video, a fact sheet on the company, investor presentations, and more.
About Digi International
Digi International is making wireless M2M easy by developing reliable products and solutions to connect and securely manage local or remote electronic devices over the network or via the Web. Digi offers the highest levels of performance, flexibility and quality, and markets its products through a global network of distributors and resellers, systems integrators and original equipment manufacturers (OEMs). For more information, visit Digi's Web site at www.digi.com, or call 877-912-3444.
This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which generally can be identified by the use of forward-looking terminology such as "anticipate," "believe," "target," "estimate," "may," "will," "expect," "plan," "project," "should," or "continue" or the negative thereof or other variations thereon or similar terminology. Such statements are based on information available to management as of the time of such statements and relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market and statements regarding the Company's mission and vision. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, including risks related to the highly competitive market in which the Company operates, rapid changes in technologies that may displace products sold by the Company, declining prices of networking products, the Company's reliance on distributors, delays in the Company's product development efforts, uncertainty in consumer acceptance of the Company's products, continued or increasing weakness in North America and developing weakness in other regions due to changes in economic conditions, and changes in the Company's level of revenue or profitability. These and other risks, uncertainties and assumptions identified from time to time in the Company's filings with the Securities and Exchange Commission, including without limitation, its annual report on Form 10-K for the year ended September 30, 2007 and its quarterly reports on Form 10-Q, could cause the Company's future results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. Many of such factors are beyond the Company's ability to control or predict. These forward-looking statements speak only as of the date for which they are made. The Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.