Apple Makes First-Ever Appearance on List
NEW YORK, Nov. 12 /PRNewswire-FirstCall/ -- Hughes Communications Inc. (Nasdaq: HUGH) is the fastest growing technology company in North America, followed by Ticket Software LLC, Starent Networks Corp. (Nasdaq: STAR), Abraxis BioScience Inc. (Nasdaq: ABBI) and Pure Digital Technologies Inc., according to the 2008 Deloitte Technology Fast 500. The award is a ranking of the fastest growing technology, media, telecommunications and life sciences companies in North America based on percentage of fiscal year revenue growth over five years (2003-2007).
'Deloitte's Technology Fast 500 recognizes technology companies who have achieved extraordinary growth in North America's most innovative and competitive sectors,' said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. 'We congratulate all of our Fast 500 winners on this significant accomplishment.'
'Now more than ever, fast growth companies of all sizes are a bright spot not to be overlooked,' added Mark Jensen, national managing partner of Deloitte LLP's Venture Capital Services. 'Historically, it is the fastest growing businesses that spur innovation, job creation and economic growth in general.'
Top Five Companies in Deloitte's 2008 Technology Fast 500
The top five Fast 500 winners are:
- Number 1 - Hughes Communications Inc., a Germantown, Maryland-based provider of broadband networks and services, reported a revenue growth rate over five years of 138,762 percent, moving from revenues of $699,000 in 2003 to $970,648,000 in 2007. This is its first appearance on Deloitte's Fast 500 ranking.
- Number 2 - Ticket Software LLC, a Vernon, Conn.-based privately held company that provides software solutions for the ticket industry, reported revenues of $83,760,000 in 2007, a leap of 111,580 percent from 2003 revenues of $75,000. This is its first appearance on the Fast 500 ranking.
- Number 3 - Starent Networks Corp., a Tewksbury, Mass.-based company that provides networking solutions for mobile operators, reported revenues of $145,797,000 in 2007, a leap of 80,008 percent from 2003 revenues of $182,000. This is its first appearance on the Fast 500 ranking.
