MORRISTOWN, N.J., Aug. 10 /PRNewswire-FirstCall/ -- Access Integrated Technologies, Inc. ("AccessIT") (NASDAQ:AIXD), the digital cinema leader, has been selected from more than 10 million U.S. businesses nationwide as one of Entrepreneur Magazine's Hot 500 in its August issue.
Ranked No. 60, AccessIT is recognized by Entrepreneur for creating a national network of Internet data centers, then growing and acquiring more companies, including Hollywood Software, Boeing Digital Cinema, FiberSat Global Services, Unique Screen Media and The Bigger Picture. The magazine touts the strategic acquisitions for helping develop the company as the "leading global provider of tools for the motion picture entertainment industry to convert film to digital cinema." "We have a terrific team at AccessIT who have all worked hard to recognize opportunities in digital cinema, identify industry needs, and then put the two together. It is gratifying to be honored by Entrepreneur for these efforts," said Bud Mayo, AccessIT's Chief Executive Officer.
The Hot 500 rankings are compiled with the help of research organization Corporate Research Board. The selection criteria includes company sales in 2002 of $1 million or greater, positive job growth between 2002 and 2006, and a minimum level of sales growth or a sales-growth quantifier of 1 or higher during the five years. Companies with more than $1 billion in sales are excluded. And, to be eligible, the founder must be actively involved in the company, and the company cannot be a spinoff or a division of a larger company.
AccessIT was founded in 2000 by a Mayo led group that included Brett Marks, Kevin Farrell, and Kevin Booth. Sales have grown from $4.2 million in 2002 to $46.9 million in 2006. The number of employees have grown from 6 to 350 in 2006 and a projected 370 by the end of this year.
Mayo shared AccessIT's "tipping point" with the magazine, which is dedicated to empowering entrepreneurs worldwide to start and grow successful companies.
"The key for AccessIT was when our digital deployment efforts reached 1,000 screens," Mayo said. "We're well past that now with our sights set on the next major milestone: 4,000 digital screens by the end of October." AccessIT has deployed digital cinema systems to almost 2,900 screens with such exhibitors as Carmike Cinemas, Celebration Cinema, Cinema West, Cinetopia, Emagine, Galaxy, Marquee Cinemas, MJR Theatres, Neighborhood Cinema Group, Showplace Cinemas, Rave, UltraStar, and AccessIT's Pavilion Digital Showcase Cinema.
Access Integrated Technologies, Inc. (AccessIT) provides theater operators the first and only studio-backed digital cinema system delivering nearly three million digital screenings of Hollywood feature films to date. The company's fully networked digital cinema system provides feature films and alternative content via satellite to expand box office sales and develop new ways to attract incremental revenues. Through its alternative content division, The Bigger Picture, AccessIT offers channels of programming including Kidtoons, Faith Based, Music and Anime. The ongoing 4,000-screen deployment is the largest of its kind in the world. Access Integrated Technologies(R) and AccessIT(TM) are trademarks of Access Integrated Technologies, Inc. For more information on AccessIT, visit http://www.accessitx.com/. [AIXD-G] Contact: Suzanne Moore
AccessIT
973.290.0056
Trent Freeman
Casey Sayre & Williams
310.396.2400
DATASOURCE: Access Integrated Technologies, Inc.
CONTACT: Suzanne Moore of AccessIT, +1-973-290-0056, ; or Trent Freeman of Casey Sayre & Williams, +1-310-396-2400, , for Access Integrated Technologies, Inc.
Web site: http://www.accessitx.com/
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