Ambient Corporation Ranked Number 54 Fastest Growing Company in
North America on Deloitte's 2012 Technology Fast 500
NEWTON, Mass., Nov. 14,
2012 /PRNewswire/ -- Ambient Corporation (NASDAQ: AMBT)
today announced it ranked 54 on Deloitte's Technology Fast
500™, a ranking of the 500 fastest-growing technology, media,
telecommunications, life sciences and clean technology companies in
North America. Ambient Corporation
grew 2,651 percent from 2007 to 2011.
(Logo:
http://photos.prnewswire.com/prnh/20090311/AMBIENTLOGO )
Ambient Corporation's President and Chief Executive Officer,
John J. Joyce, credits the Ambient
Communications Platform and its advanced technologies with the
company's 2,651% revenue growth.
Mr. Joyce commented, "The value of the Ambient Communications
Platform has enabled us to make a significant impact for our
utility customers. It is by developing solutions for complex grid
modernization challenges that we provide enhanced visibility into
the distribution grid. Ambient is on the forefront of the latest
technologies that bring customer benefits, extend the life of
assets and provide greater control of the distribution grid."
"We are proud to honor the 2012 Technology Fast 500™ companies,
and commend them for their outstanding growth," said Eric Openshaw, vice chairman, Deloitte LLP and
U.S. technology, media and telecommunications (TMT) leader.
"These ground-breaking companies have outpaced their competition
and are reinventing the way we do business today."
"The companies on the Fast 500 list are among those that have
demonstrated remarkable innovation, creativity and business savvy,"
said Bill Ribaudo partner, Deloitte
& Touche LLP and national TMT leader for audit and enterprise
risk services (AERS). "As a result, these companies have continued
to successfully forge ahead in a challenging economic environment.
We applaud the leadership and employees of Ambient Corporation for
this impressive accomplishment."
Ambient Corporation previously ranked 140 as a Technology Fast
500™ award winner for 2011.
Overall, 2012 Technology Fast 500™ companies achieved revenue
growth ranging from 128 percent to 279,684 percent from 2007 to
2011, with an average growth of 2,774 percent.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP,
provides a ranking of the fastest growing technology, media,
telecommunications, life sciences and clean technology companies –
both public and private - in North
America. Technology Fast 500 award winners are selected
based on percentage fiscal year revenue growth from 2007 to
2011.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000
USD or CD, and current-year operating revenues of at least
$5 million USD or CD. Additionally,
companies must be in business for a minimum of five years, and be
headquartered within North
America.
About Ambient Corporation
Ambient designs, develops and sells the Ambient Smart
Grid® communications platform. The Ambient Smart Grid
products and services include communications nodes; a network
management system, AmbientNMS®; integrated applications;
and maintenance and consulting services. Using open
standards-based technologies along with in-depth industry
experience, Ambient provides utilities with solutions for their
smart grid initiatives. Headquartered in Newton, MA, Ambient is a publicly traded
company (NASDAQ: AMBT). More information on Ambient is available at
www.ambientcorp.com.
Except for historical information, this press release contains
statements that may be deemed to be "forward-looking statements"
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These include statements
relating to the diversification of our customer base, the
introduction of new products, further development and marketing of
our communications platform and cultivating projects with potential
customers, among others. These forward-looking statements are based
upon our current expectations, estimates and projections about our
business and our industry and reflect our beliefs and assumptions
based upon information available to us at the date of this release.
We caution readers that forward-looking statements are predictions
based on our current expectations about future events. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and assumptions that are
difficult to predict. Our actual results, performance or
achievements could differ materially from those expressed or
implied by the forward-looking statements as a result of a number
of factors, which could have a material adverse effect on our
operations and future prospects including, but not limited to, our
ability to retain and attract customers, particularly in light of
our dependence on a single customer for substantially all of our
revenue; our expectations regarding our expenses and revenue,
including our expectations that our research and development
expenses and selling, general and administrative expenses may
increase in absolute dollars; our material weakness in internal
control over financial reporting; anticipated trends and challenges
in our business and the markets in which we operate, including the
market for smart grid technologies; our expectations regarding
competition as more and larger companies enter our markets and as
existing competitors improve or expand their product offerings; our
plans for future products and enhancements of existing products and
market acceptance of these products; realizing expected sales from
our backlog of orders; our ability to meet new customers' quality
standards, specifications, process-related performance requirements
or delivery schedules; our anticipated cash needs and our estimates
regarding our capital requirements; and our anticipated growth
strategies. We undertake no obligation to publicly update or revise
any forward-looking statements. Further information on the
company's risks and uncertainties is available in our filings with
the Securities and Exchange Commission.
Ambient®, Ambient Smart Grid® and
AmbientNMS® are registered trademarks of Ambient
Corporation with the U.S. Patent and Trademark Office. Ambient
MiniNode, Ambient MicroNode and AmbientPQM are trademarks of
Ambient Corporation.
SOURCE Ambient Corporation