AWR Announces Tenth Consecutive Year of Record Growth and Financial Performance

Applied Wave Research Inc. (AWR), a provider of high-frequency electronic design automation (EDA) tools, has announced the continued success of its long-term growth strategy with a 20 percent increase in sales for fiscal year 2007. Achievements driving AWR’s high performance include strong growth across all products lines, and the addition of strategic new customer accounts and expansion of existing accounts. Significant AWR customers include Nokia Corp., Skyworks Solutions Inc., The SAAB Group, and TriQuint Semiconductor Inc. Other factors contributing to the success include the on-going adoption of APLAC RF circuit simulation solution, continued expansion of AWR's research and development efforts and sales and support networks worldwide, major product shipments, and the addition of key new EDA partners.

"Fiscal 2007 has been fantastic with clear execution and achievement of all the goals across the company," said Ted Miracco, Co-founder and Executive Vice President, AWR. "The close of AWR's fiscal year marks ten consecutive years of record growth for the company, and our next year outlook is very promising. Our Series C financing round combined with the addition of key new investors has contributed significantly to our expanding presence in the EDA market."

In conjunction with the announcement of AWR's ongoing financial success and growth, AWR also announced that Dane Collins, former executive vice president, is taking over as CEO effective immediately. Collins, who has been with the company since 1998, replaces James Spoto, who is leaving the company in order to travel and spend more time with his family. The change is being made as part of an overall strategic plan that maps to the long-term goals of the company.

"James' departure is part of a planned transition," said Collins. "James has invested over five intense, hard-working years here as CEO. Our appreciation and best wishes go with him as he moves on to new ventures, and we are pleased that he will continue his relationship with AWR as a trusted advisor. I want to stress that there will be no change in the strategic direction or product line at AWR, and we continue to be completely committed to the success of our customers."

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