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Nineteen Colorado Companies Included on Deloitte Technology Fast 500 Rankings in North America; Google Named Fastest Growing Three of 25 `Rising Stars'' Based in the State
DENVER --(Business Wire)-- Oct. 20, 2004 -- Nineteen Colorado technology companies are included on the Deloitte 2004 Technology Fast 500, a ranking of the fastest growing technology companies in North America based on percentage revenue growth over five years (fiscal year revenues 1999-2003) by Deloitte & Touche USA LLP.
Google was named the fastest growing technology company in North America with a revenue growth rate over five years of 437,115 percent, moving from revenues of $220,000 in 1999 to $961,874,000 in 2003. Based in Mountain View, Calif., Google is a search engine firm that has become a household name.
The nineteen Colorado companies that made the Technology Fast 500 list include: -0- *T 2004 5-Yr Rank Company Name City Growth % 46 Alpine Access, Inc. Golden 5505% 76 Applied Films Corp. Longmont 3241% 79 Raindance Communications, Inc. Louisville 3044% 102 Inflow Thornton 2302% 105 Array BioPharma Inc. Boulder 2236% 140 HealtheTech, Inc. Golden 1643% 167 The Murrayhill Company Denver 1321% 228 Conduant Corporation Longmont 953% 259 Space Imaging Thornton 805% 269 Atrix Laboratories, Inc. Fort Collins 779% 271 Intelligent Software Solutions Colorado Springs 763% 288 eCollege Denver 693% 294 Level 3 Communications Broomfield 682% 298 3t Systems Denver 676% 337 ARC Wireless Solutions Wheat Ridge 570% 423 IITC Denver 403% 467 SAN Holdings, Inc. Englewood 351% 481 McDATA Corporation Broomfield 340% 492 Encision, Inc. Boulder 334% *T
"The resiliency of the technology sector across the country and particularly here in Colorado is demonstrated in the performance of these companies," said Steve Yaroch, Technology, Media and Telecommunications Group Leader for Deloitte in Denver.
Rising Stars
As an accompaniment to the Fast 500, Deloitte also honors 25 "Rising Star" companies. These winners have accomplished fast growth and meet the criteria of being a technology company based in North America. They have been in business less than five years but at least three years. Rankings are based on their percentage growth in revenues from 2001 to 2003.
Three of those "Rising Stars" are Colorado companies--Epic Broadband Solutions of Castle Rock--and two Greenwood Village-based companies--Virtela Communications, Inc. and TrenStar, Inc.
Epic Broadband Solutions placed number four on the list with a 4,738 percentage growth rate over three years. The company is an established manufacturer of custom cable assemblies and provider of connectivity and expansion products to the network, storage and communications industry.
Virtela Communications is a global network solutions company serving as a business consultant, network aggregator and network integrator. Virtela ranked number 12 with a 1,709 percentage growth rate over three years.
TrenStar buys, tracks and manages logistics assets that transport materials and products through supply chains. The company ranked number 13 with a 1,664 percentage growth rate over three years.
"Having three of the 25 Rising Stars here in Colorado is especially encouraging as examples of young companies being able to perform in difficult conditions," Yaroch added.
The Top Five
In addition to Number 1-ranked Google, the top five Fast 500 winners include:
Number 2 -- TheraSense, an Alameda, Calif.-based life sciences company, came in second on the Fast 500 list. Now a part of Abbott Laboratories, TheraSense develops and sells glucose self-monitoring systems that reduce the pain of testing for those with diabetes. It reported revenues of $211,854,000 in 2003, a leap of 249,140 percent over five years from 1999 revenues of $85,000.
Number 3 -- STSN Inc., a Salt Lake City-based privately held Internet company that provides high-speed Internet access to the hospitality industry, ranked third. STSN posted $60,591,000 in revenues in 2003, 118,706 percent higher than its 1999 revenues of $51,000.
Number 4 -- Cardiac Science Inc., a life sciences company that develops and manufactures cardiac defibrillators, came in fourth. The Irvine, Calif.-based company reported revenues of $61,982,000 in 2003, jumping 60,077 percent from 1999 revenues of $103,000.
Number 5 -- PriceGrabber.com, a privately held Internet company that provides online comparison shopping, came in fifth with 2003 revenues of $26,909,000, 51,648 percent higher than its $52,000 in revenues in 1999. PriceGrabber.com is based in Culver City, Calif.
For a complete list of the Deloitte Technology Fast 500 and "Rising Stars" winners for 2004 (and past years), visit www.fast500.com.
Majority of Winners in Western United States
The Western United States claims the greatest number of companies on the ranking with 34 percent (168 companies) this year including the 19 Colorado companies. The Northeastern United States is home to 22 percent (110 companies) of the winners, the Midwestern United States is home to 10 percent (51 companies). The Southeastern United States claims 16 percent (80 companies) and the Southwestern United States claims 7 percent (37 companies) of the winners.
Qualifying Criteria for the Fast 500
The Fast 500 ranks the fastest growing technology companies in North America. It is compiled from Deloitte's 19 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research.
Winners are selected based on the percentage of growth in revenues from 1999 to 2003. To be considered, Fast 500 and Fast 50 entrants must have met the following criteria:
-- 1999 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2003 operating revenues must be at least $1 million USD or CD.
-- Must be a public or private company headquartered in North America and must have been in business a minimum of five years.
-- Must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP.
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