Wednesday, 28 November 2007
Sirius satellite radio is the fastest growing company
2007 Technology Fast 500 List
The Deloitte Technology Fast 500 recognizes North America’s fast-growing technology, media, telecommunications and life sciences companies in terms of percentage revenue growth over five years.
The year 2007 marks the 13th anniversary of Deloitte’s Technology Fast 500. Through the years, the companies that have appeared on our list have shown a remarkable ability to maintain spectacular growth, not just during the heady times of the technology boom, but also through this now increasingly competitive landscape. The five-year growth rates of the companies on the 2007 Deloitte Technology Fast 500 list, although still stellar by any measure, reflect a business environment that rewards sustained performance.
View the companies on this year's 2007 Technology Fast 500 in the PDF attached here (20 pages)
View the press realease
SIRIUS Satellite Radio Inc. was named the fastest growing technology company in North America: SIRIUS reported a revenue growth rate over five years of 79,060 percent, moving from revenues of $805,000 in 2002 to $637,235,000 in 2006.
Based in New York City, SIRIUS (www.sirius.com) is a publicly held provider of satellite radio services. The company delivers more than 130 channels of the “Best Radio on Radio,” including 68 channels of 100 percent commercial-free music and 65 channels of sports, news, talk, entertainment, traffic, weather and data services. This is its first appearance on the Fast 500 ranking.
On February 19, 2007, Sirius announced a merger deal with the competitor XM Satellite Radio. Upon government approval, the merger will combine the two radio services and create a single satellite radio network in the United States.
In addition to Number 1-ranked SIRIUS Satellite Radio Inc., the top five Fast 500 winners include:
Number 2 — SkyBitz Inc., a Sterling, Va.-based privately held communications/networking company, came in second on the 2007 Fast 500 listing. SkyBitz (www.skybitz.com), a real-time tracking and information management solutions company, reported revenues of $26,673,000 in 2006, a leap of 40,314 percent from 2002 revenues of $66,000. This is its first appearance on the Fast 500 ranking.
Number 3 — iTech US Inc., a privately held software company based in South Burlington, Vt., came in third on the 2007 Fast 500 listing. iTech US (www.itechus.com), provider of IT services and e-business operations, reported revenues of $28,434,000 in 2006, a leap of 39,392 percent from 2002 revenues of $72,000. This is its first appearance on the Fast 500 ranking.
Number 4 — First Solar Inc. (NASDAQ: FSLR), a Phoenix-based publicly held semiconductor company, came in fourth on the 2007 Fast 500 listing. First Solar (www.firstsolar.com), which specializes in renewable power generation, reported revenues of $134,974,000 in 2006, a leap of 27,446 percent from 2002 revenues of $490,000. This is its first appearance on the Fast 500 ranking.
Number 5 — ISTS Worldwide Inc., a Fremont, Calif.-based privately held software company, came in fifth on the 2007 Fast 500 listing. ISTS Worldwide (www.istsinc.com), a retail and payment technology-focused custom development, consulting and systems integration services firm, reported revenues of $10,064,000 in 2006, a leap of 19,254 percent from 2002 revenues of $52,000. This is its first appearance on the Fast 500 ranking.
Fastest Growing Companies Are Private
The proportion of private vs. public companies that make up the fastest growing businesses in the 2007 Fast 500 has completely reversed itself from 2002, with private companies now dominating the top 20 slots.[...]
Technology World Is Not Flat
The traditional technology hotspots in California and the Northeast constituted a growing share of the Fast 500, while other regions saw a general decline. Silicon Valley and Silicon Alley’s ecosystems of innovation, academia, venture capital and skilled employees are proving difficult to replicate in other regions.