California Companies Comprise 23 Percent of Deloitte's 2006 Technology Fast 500
LOS ANGELES, Oct. 19 /PRNewswire/ -- Occam Networks Inc. (NASDAQ:OCNW) of Santa Barbara, Calif., is the fastest growing company in North America, according to Deloitte's Technology Fast 500, a ranking of the fastest growing technology, media, telecommunications and life sciences companies based on percentage fiscal year revenue growth over five years (2001-2005) by Deloitte & Touche USA LLP. Occam ranked Number One on the Fast 500.
[Editors: For a complete list of Technology and Rising Star Fast 500 companies, please visit http://www.fast500.com/ .] "We are thrilled that, for the second consecutive year, a Southern California company tops the Fast 500 list," said Kris Kaufmann, Partner, Audit & Enterprise Risk Services, Deloitte & Touche LLP, and Chairman of the 2006 Los Angeles Deloitte Fast 50 program. "We see this accomplishment as an indication that the Los Angeles-area market continues to thrive, and congratulate Occam Networks for its achievement." Occam experienced a revenue growth rate over five years of 48,948 percent, moving from revenues of $80,000 in 2001 to $39,238,000 in 2005. Occam Networks (http://www.occamnetworks.com/ ) is a publicly held provider of broadband access products designed to enable telecom service providers to offer bundled voice, video, and data over copper and fiber optic networks. This is its first appearance on the Fast 500 ranking.
Occam is one of 44 companies in Southern California to make this year's Technology Fast 500. This marks the second consecutive year that a Southern California company has topped the Technology Fast 500 list; last year, San Diego-based NuVasive, Inc. held the top spot. NuVasive appears on the 2006 Technology Fast 500 list this year at number 96.
California retains its title as home to more Fast 500 technology companies than any other state with 23 percent (116 companies) headquartered there, up from 21 percent (105 companies) in 2005. Ranking for the Fast 500 is based on percentage growth in fiscal year revenues over five years (2001-2005).
Fast 500 companies in the Southwestern region of the United States grew an average of 2,335 percent, compared with the national average of 2,145 percent. Growth percentages for the 2006 Technology Fast 500 companies ranged from 209 percent to 48,948 percent. The top five companies' average growth rate was 38,107 percent.
Southern California Also Home To Technology Fast 500 Rising Stars As an accompaniment to the Fast 500, Deloitte also honors 25 "Rising Star" companies. These fast-growing young companies, based in North America, have been in business three or four years. They are selected based on percentage revenue growth over three years, from fiscal years 2003-2005.
Number two on this year's list is SiliconSystems Inc., a privately held semiconductor company based in Aliso Viejo, Calif., with 7,204 percent growth over three years.
Technology Fast 500 Qualifying Criteria The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte's 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research.
Companies are selected based on percentage revenue growth from 2001 to 2005. To be considered, Fast 500 and Fast 50 entrants must have met the following criteria: * Must own proprietary intellectual property or proprietary technology
that contributes to a significant portion of the company's operating
revenues or devotes a significant proportion of revenues to research and
development of technology. Using other companies' technology or
intellectual property in a unique way does not qualify. * Base-year operating revenues must be at least $50,000 USD or $75,000 CD,
and current-year operating revenues must be at least $5 million USD or
CD. Companies are required to submit tax returns or audited financial
statements with their submitted nomination to complete their
eligibility. * Must be in business a minimum of five years. * Must be headquartered within North America. Subsidiaries or divisions
are not eligible (unless they have some public ownership and are
separately traded).
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 United States, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. DATASOURCE: Deloitte CONTACT: Christine Brodeur of Deloitte, +1-213-688-4759, Web site: http://www.deloitte.com/us http://www.occamnetworks.com/ http://www.fast500.com/
|