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:

  1. ITXC Corp., one of the largest wholesale telephone companies in the world
  2. Extreme Networks, Inc., which provides Ethernet network switching solutions
  3. Cray Inc., supercomputer designer
  4. Openwave Systems Inc., provider of mobile data and messaging services
  5. 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.

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