Deloitte Announces Technology Fast 500 Winners
Big Four firm Deloitte & Touche has published its list of the 2002 Technology Fast 500 winners, the 500 fastest-growing North American technology companies. The companies that make the annual list are judged by revenue growth over a five-year period.
Revenues for the companies that appear on this year's list grew by an average of 6.772% over five years, compared to 6.184% for last year's companies. The top five companies on the list, with average revenue growth of 196.763% over five years, are:
- ITXC Corp., one of the largest wholesale telephone companies in the world
- Extreme Networks, Inc., which provides Ethernet network switching solutions
- Cray Inc., supercomputer designer
- Openwave Systems Inc., provider of mobile data and messaging services
- Universal Access, interconnectivity provider to the global telecommunications companies
Software companies make up 48% of the Fast 500 list this year, followed by life sciences (16%), communications/networking (15%), Internet companies (10%), semiconductor/equipment (7%), and computers/peripherals (4%).
To qualify for consideration for the Technology Fast 500 list, a company must be a technology company that owns proprietary technology that contributes to a significant portion of the company's operating revenues or must devote a high percentage of effort to research and development of technology. The company must have been in business for at least five years and have minimum operating revenue of $50,000 in 1997 and $1 million in 2001, and the company must be headquartered in the United States or Canada.
You can view Deloitte & Touche's Technology Fast 500 lists for the past six years.