Ranking recognises rocket-powered growth
An
American Sensor Technologies product story
Edited by the Engineeringtalk editorial team
Aug 17, 2004
American Sensor Technologies has been ranked fifth in Deloitte's Technology Fast 50 Programme for New Jersey.
American Sensor Technologies has been ranked fifth in Deloitte's Technology Fast 50 Programme for New Jersey, a ranking of the 50 fastest growing technology companies in the state by Deloitte and Touche.
Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999 to 2003.
"With our innovative sensor technology and experienced team of engineers, American Sensor Technologies has been very successful in growing both its revenue and customer base in the highly competitive global sensor market", states Karmjit S Sidhu, Vice President Business Development, American Sensor Technologies.
"Over the past five years, our company experienced a 1746% revenue growth and we anticipate continued growth into the future".
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
"The Deloitte New Jersey Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment", said Paul Mlynarski, Tax Partner and Chair of the New Jersey Technology Fast 50.
"We applaud the success of American Sensor Technologies and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years".
Winners of the 19 regional Technology Fast 50 programmes in North America are automatically entered into the Deloitte Technology Fast 500 programme, which ranks North America's top 500 fastest growing technology companies.
Winners of this programme will be announced in October 2004.
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