2006 Annual Report - Telular

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Twenty years ago Telular Corporation was founded basedon the concepts of a new revolutionary wireless alarmsystem called Telguard ® . Since then through creativeengineering and design we have expanded our product lineto include a full suite of fixed cellular devices. All theexperience gained, which includes world-class engineering,volume manufacturing and global distribution channelshas once again positioned us for delivering a revolutionarynew alarm system calledTelguard ®Digital.
1986–19961986:Telular was founded byMr. William De Nicolo toestablish an alternative towireline security systems.1987:Telular acquires a key patentcovering the concept ofconnecting standard alarmsystems and telephones tocellular networks.1993:Motorola makes a significantinvestment in Telular.Telular acquires amanufacturer of wirelesssecurity devices and theTELGUARD ® brand emerges.1994:Telular completes it’s initialpublic offering and beginstrading on the NASDAQ underthe ticker symbol “WRLS.”Dear Shareholders,Fiscal year 2006 was an exciting year of both growthand transformation for Telular, as we have positionedthe Company to capitalize on a number of fast-growingmarket opportunities for our products. Revenuesincreased 78% over last year, driven by the rapidexpansion of our higher value Telguard ® product line,and we believe we have made important progress towardour goal of reaching sustainable profitability in 2007.During the year, we made great headway in our strategyto focus on the fast-growing security market, and arequickly rolling out new Telguard products and expandingour addressable market opportunity in the securitysector. Additionally, we are making targeted investmentsthroughout our wireless terminal business which webelieve can give us a complementary growth opportunityby leveraging our strong ties with wireless operatorsworld-wide. Our fixed cellular phone business alsogrew notably in 2006 and we continue to transformthis segment into a cash flow generating business unit.Importantly, we are very pleased with the strongreception we have experienced in the digital wirelessalarm market and are looking to capitalize on thecontinued strong demand from our distributionchannels. Revenues in Telguard wireless alarm businessreached $32.7 million, an increase of over 110%from fiscal 2005. With the rapid expansion of theTelguard market, we are investing in expanding ourproduct line, introducing several new products this year,and continuing to expand sales channels. We serve anew exciting and rapidly expanding segment of thismarket, called the cellular alarm communicator market.We develop wireless solutions and services that transmitdata from all types of security and fire systems tocentral stations using the nationwide GSM digitalcellular market. Telguard’s cellular solution is used toprovide primary or back-up communications to alarmmonitoring centers when the telephone line has beendisrupted, compromised by intruders, or if no wirelineservice is used. Currently, we believe we have majoritymarket share and are uniquely positioned in that we arethe only company that works on all the major differenttechnology platforms used by security companies.As we continue to improve design costs and increasemanufacturing efficiencies, we expect to see expandingmargins and a positive bottom line impact.
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2006 Annual Report - Telular

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