SAN DIEGO -- March 9, 1999 -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that Transit Group, Inc. (Nasdaq: TRGP) has signed a contract to outfit their 13 trucking fleets with 3,000 OmniTRACS® mobile satellite communication terminals and has begun installation. Transit Group will use the OmniTRACS information and vehicle tracking system to consolidate and enhance their operations.
"We wanted to partner with the industry's leading technology provider and Qualcomm was our first choice by far," said Philip Belyew, president and chief executive officer of Transit Group. "With our aggressive growth plans this year, the OmniTRACS system will enable us to fully integrate our information management operations and take better advantage of the synergies between our trucking companies."
"We are pleased to have the Transit Group join our elite list of customers," said Phil White, president of Qualcomm Wireless Business Solutions™ (QWBS). "We are confident that our OmniTRACS system will provide the level of performance and reliability they are seeking, reduce costs and streamline operations -- while giving them a competitive edge."
Transit Group is a holding company in the business of acquiring and consolidating short, medium and long-haul trucking companies, particularly truckload carriers. With annual revenues of $285 million, Transit has trucking companies headquartered in Alabama, Florida, Indiana, Kentucky, New York, North Carolina, Mississippi and Canada, and agents and terminals in many major cities, serving customers throughout the United States and in Canada. The Company has completed 13 acquisitions over the past 18 months.
With more than 270,000 OmniTRACS units sold worldwide, Qualcomm is the leading provider of mobile communications and information management systems to the transportation industry. Qualcomm currently has mobile terminals operating in the United States, Canada, Europe, Russia, Middle East, Mexico, Brazil, Japan, Korea, Malaysia and China.
Qualcomm Incorporated (Nasdaq: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's major business areas include CDMA phones; integrated CDMA chipsets and system software; wireless infrastructure; technology licensing; and satellite-based systems including OmniTRACS and portions of the Globalstar™ system. Qualcomm is headquartered in San Diego, Calif. Qualcomm's fiscal 1998 revenues exceeded U.S. $3 billion. For more information, please visit the Company's web site at http://www.qualcomm.com.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including timely product development, the Company's ability to successfully manufacture significant quantities of CDMA or other equipment on a timely and profitable basis, and those related to performance guarantees, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 27, 1998, and most recent Form 10-Q.
Qualcomm and OmniTRACS are registered trademarks of Qualcomm Incorporated. Qualcomm Wireless Business Solutions is a trademark and a service mark of Qualcomm Incorporated. Globalstar is a trademark of Loral Qualcomm Satellite Services, Incorporated.