Four Aces: California Firms Score High on Tech List
The Number One company on the list saw revenue growth of 73,752% last year
NEW YORK - 11/02/05 - Four California high technology companies lead the list of the fastest growing technology companies in North America, according to the latest Deloitte & Touche 2005 Technology "Fast 500" ranking.
The list measures maturity, innovation, and sustained growth based on percentage revenue growth over five years - fiscal year revenues 2000-2004 - as measured by Deloitte & Touche USA LLP.
Leading the list is San Diego-based NuVasive Inc., a medical equipment company that develops minimally invasive back surgery products.
NuVasive's revenue growth was a staggering 73,752%, skyrocketing from revenues of a mere $52,000 in 2000 to more than $38.4 million last year.
The company's ranking is its first appearance on the Fast 500 ranking.
Coming in at Number 2 on the list was NetSuite Inc., a San Mateo-headquartered privately-held software company, that develops on-demand applications for NetSuite.
The company reported revenues of more than $41 million in 2004, a leap of 43,327 percent from 2000 revenues of $95,000.
Ranked third on the "Fast 500" list is the Acacia Research Corp., a technology licensing company that develops, acquires, and licenses patented technologies.
Based in Newport Beach, Acacia Research posted more than $23.9 million in revenues in 2004, an astounding 41,874% higher than its 2000 revenues of $57,000.
Acacia Research ranked Number 497 on the D&T "Fast 500" list in 2004.
Number Four on the list is CaseStack Inc., a privately held software company that provides logistics outsourcing services to mid-sized consumer packaged goods companies.
The Santa Monica-headquartered firm reported revenues of $25.4 in 2004, jumping 39,071% from 2000 revenues of $65,000.
The western US claims the greatest number of companies on the ranking with 28%, or 139 firms on the list.
California is home to more "Fast 500" companies than any other state with 21%, 105 companies, down from 26% (130 companies) last year. Northern California is home to 54 companies, while Southern California claims 51 companies.
According to D&T, software industry companies once again account for the largest group of the Fast 500, with 37% - 186 companies.
Other significant industry groups include biotechnology and pharmaceutical companies with 16%, 82 firms, and communications and networking companies with 14% or 70 companies.
Semiconductors represented the "Fast 500" list's fastest growing industry segment with 4,302% average revenue growth.
Runners-up include the Internet sector with 3,983% average growth; medical equipment companies, averaging 3,129% growth; software companies with an average of 2,400%.
Communications and networking listees averaged 2,242% average growth last year, said D&T.
For a complete list of the Deloitte Technology Fast 500 winners for 2005 and past years, visit www.fast500.com
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