Google Named Fastest Growing Tech Company in North America in Deloitte's Technology Fast 500 Ranking; Google Logged 437,115 Percent Revenue Growth Over Five Years

SAN JOSE, Calif.--()--Oct. 20, 2004--Google (NASDAQ:GOOG) was named the fastest growing technology company in North America, topping the 2004 Deloitte Technology Fast 500, a ranking of the fastest growing technology companies in North America based on percentage revenue growth over five years (fiscal year revenues 1999-2003) by Deloitte & Touche, USA, LLP. Google had a revenue growth rate over five years of 437,115 percent, moving from revenues of $220,000 in 1999 to $961,874,000 in 2003. Based in Mountain View, Calif., Google (www.google.com) is a search engine firm that has become a household name. This is its first appearance on the Fast 500 ranking.

"Google tops a list of companies that are proving the resilience of the technology sector," said Mark Evans, managing partner of Deloitte's Technology, Media & Telecommunications Group. "With growth percentages ranging from 329 to 437,115 percent, the Fast 500 winners have demonstrated an ability to perform in difficult conditions."

The Top Five

In addition to Number 1-ranked Google, the top five Fast 500 winners include:

Number 2 -- TheraSense (NYSE:ABT), an Alameda, Calif.-based life sciences company, came in second on the Fast 500 list. Now a part of Abbott Diabetes Care (www.abbottdiabetescare.com), a division of Abbott, the company develops and markets glucose self-monitoring systems that reduce the pain of testing for people with diabetes. It reported revenues of $211,854,000 in 2003, a leap of 249,140 percent over five years from 1999 revenues of $85,000. TheraSense topped the list last year.

Number 3 -- STSN Inc., a Salt Lake City-based privately held Internet company that provides high-speed Internet access to the hospitality industry, ranked third. STSN (www.stsn.com) posted $60,591,000 in revenues in 2003, 118,706 percent higher than its 1999 revenues of $51,000. This is its first appearance on the Fast 500 ranking.

Number 4 -- Cardiac Science Inc. (NASDAQ:DFIB), a life sciences company that develops and manufactures cardiac defibrillators, came in fourth. The Irvine, Calif.-based company reported revenues of $61,982,000 in 2003, jumping 60,077 percent from 1999 revenues of $103,000. Cardiac Science (www.cardiacscience.com) ranked Number 107 in 2003 and Number 417 in 2002.

Number 5 -- Pricegrabber.com, a privately held Internet company that provides online comparison shopping, came in fifth with 2003 revenues of $26,909,000, 51,648 percent higher than its $52,000 in revenues in 1999. PriceGrabber.com (www.pricegrabber.com) is based in Culver City, Calif. This is its first appearance on the Fast 500 ranking.

Top Winners Average 183,337 Percent; Overall Winners 4,109 Percent

Combined, the 2004 top five winners' growth rate averaged 183,337 percent, up from the 2003 top winners' average of 177,851 percent but down from 2002's 196,762 percent; it is still up from the 2001 and 2000 averages of 93,496 percent and 59,367 percent respectively.

Overall average percentage growth for all 500 winners was 4,109 percent, down from last year's 5,493 percent and 6,772 percent for 2002. The average in 2001 was 6,184 percent and 3,956 percent for 2000.

Percentages for the 2004 Fast 500 winners ranged from 329 percent to 437,115 percent, compared to 469 percent to 296,080 percent for 2003 winners; 614 percent to 293,493 percent for 2002 winners; 824 percent to 115,874 percent for 2001 winners; and 593 percent to 71,257 percent for 2000 winners.

Majority of Winners in Western United States

The Western United States claims the greatest number of companies on the ranking with 34 percent (168 companies) this year. The percentage of winners based in the West has been fairly consistent for the past four years, with 32 percent in 2003, 36 percent in 2002, and 32 percent in 2001. The West also claims the highest percentage of growth (8,790 percent); is home to all of the top 10 winners; and is also home to the ranking's largest companies, with five of the seven companies on the list with revenues over $1 billion based there.

The Northeastern United States is home to 22 percent (110 companies) of the winners, holding steady from 23 percent (113 companies) in 2003, 23 percent (114 companies) in 2002, 23 percent (115 companies) in 2001, and 25 percent (125 companies) in 2000.

The Southeastern United States claims 16 percent (80 companies) of the winners, consistent with 16 percent (82 companies) in 2003 and 16 percent (82 companies) in 2002, but down from 19 percent (97 companies) in 2001 and 21 percent (105 companies) in 2000.

Canada boasts 11 percent of the winners with 55 companies located there, down from 14 percent (68 companies) in 2003, but up from 10 percent (52 companies) in 2002, 9 percent (47 companies) for 2001 and 2000 (9 percent or 46 companies). This is the fifth year Canadian companies were eligible for the ranking.

The Midwestern United States is home to 10 percent (51 companies) of the winners, holding steady with 9 percent (44 companies) in 2003, 10 percent (49 companies) in 2002, and 11 percent (54 companies) in 2001 but down from 14 percent (68 companies) in 2000.

The Southwestern United States claims 7 percent (37 companies) of the winners, holding steady from 6 percent (31 companies) in 2003, 5 percent (23 companies) in 2002, 6 percent (29 companies) in 2001 and up from 4 percent (21 companies) in 2000.

California Home to 26 Percent of Fast 500 and 8 of Top 10 Winners

California retains its title as home to more Fast 500 companies than any other state with 26 percent (130 companies) based there, up from 25 percent (126 companies) in 2003, but down from 30 percent (149 companies) in 2002. It also had 26 percent (132 companies) of the 2001 Fast 500 winners. Northern California is home to 79 companies, while Southern California has 51 companies. This year, eight of the top 10 winners are based in California, six in Northern California and two in Southern California.

Other United States regions with a large number of winners include:

-- New York Tri-State (New Jersey, New York and Connecticut combined) -- 12 percent (58 companies)

-- Greater Washington DC Area (Maryland, Virginia and Washington DC combined) -- 10 percent (51 companies)

Canada Has 11 Percent (55 Companies) of the Fast 500

Canada has 11 percent (55 companies) on this year's Fast 500 ranking, down from 14 percent (68 companies) in 2003, but up slightly from 10 percent in 2002 and 9 percent in 2001.

The highest ranked Canadian Fast 500 winner for 2004 is Number 26-ranked Rutter Inc. (www.rutterinc.ca), a software company based in St. John's, Newfoundland, Canada. Its revenues increased 11,662 percent from $168,000 CD in 1999 to $19,760,000 CD in 2003.

Canadian Fast 500 winners had an average percentage revenue growth of 1,597 for 2004, down from 1,809 percent in 2003, 2,019 percent in 2002 and 6,426 percent in 2001. This is the fifth year Canadian companies were eligible for the Fast 500. Their revenues were calculated in Canadian dollars.

Western Fast 500 Winners Claim Highest Average Growth Percentage

Fast 500 winners in the West claim the highest average percentage of growth (8,790 percent); up from 7,427 percent in 2003, down from 9,730 percent in 2002 and up slightly from 8,777 percent in 2001.

Southeastern United States Fast 500 winners grew by 1,886 percent, down from 9,209 percent in 2003, 2,325 percent in 2002 and 5,094 percent in 2001.

Northeastern United States Fast 500 winners had an average percentage growth of 1,864 percent, down from 3,862 percent in 2003, 8,574 percent in 2002, and 4,244 percent in 2001.

Southwestern United States Fast 500 winners had an average percentage growth of 1,727 percent this year, down from 4,195 percent, 3,988 percent in 2002, and 5,770 percent in 2001.

Midwestern United States Fast 500 winners had an average percentage growth of 1,408 percent, down from 2,241 percent in 2003, 5,629 percent in 2002, and 4,702 percent in 2001.

Software Companies Account for More Than One-Third of Fast 500 Winners

Software industry companies account for 38 percent (192 companies) of the 2004 Fast 500 winners, fairly consistent with 39 percent (196 companies) in 2003, but down from 48 percent in 2002 and 57 percent in 2001.

Companies in the life sciences industry represented 22 percent (108 companies), up from 19 percent (94 companies) in 2003, 16 percent in 2002 and 15 percent in 2001. Internet companies represented 14 percent (70 companies), down from 18 percent (89 companies) in 2003, but up from 10 percent in 2002 and 15 percent in 2001. Communications and networking companies accounted for 14 percent (72 companies) of winners, down slightly from 16 percent (78 companies) in 2003, and fairly consistent with 15 percent in 2002 and 13 percent in 2001.

Semiconductor and equipment companies represented 6 percent (31 companies), up from 4 percent (22 companies) in 2003, and fairly consistent with 7 percent in 2002 and 6 percent in 2001. Computer and peripheral companies represented 6 percent (27 companies), up from 4 percent (21 companies) in 2003, 4 percent in 2002 and consistent with 6 percent in 2001.

$1 Billion Plus Companies on the Fast 500

Being multi-billion dollar companies in North America hasn't stopped the following companies from experiencing stellar growth. There are seven companies whose 2003 revenues exceed $1 billion. The three largest companies, in order of revenue, are:

Number 273 Sanmina-SCI Corporation (NASDAQ:SANM), a semiconductor company based in San Jose, Calif., with 2003 revenues of $10.4 billion. It ranked Number 344 in 2003.

Number 294 Level 3 Communications (NASDAQ:LVLT), a communications/networking company based in Broomfield, Colo., with 2003 revenues of $4.0 billion. It ranked Number 371 in 2003.

Number 229 UTStarcom Inc. (NASDAQ:UTSI), a communications/networking company based in Alameda, Calif., with 2003 revenues of $2.0 billion. It ranked 324 in 2003.

Fifty-nine Percent of Fast 500 Winners Are Publicly Traded

Fifty-nine percent of the companies on the 2004 Fast 500 are publicly traded, down slightly from 62 percent in 2003. Forty-one percent of the winners are privately held, up from 38 percent in 2003. Six of the top 20 companies are privately held.

Rising Stars -- 25 Fast-Growth Companies Less Than Five Years Old

As an accompaniment to the Fast 500, Deloitte also honors 25 "Rising Star" companies. These winners have accomplished fast growth and meet the criteria of being a technology company based in North America. They have been in business less than five years but at least three years. Rankings are based on their percentage growth in revenues from 2001 to 2003.

Topping Deloitte's "Rising Stars" ranking are:

Number 1 -- TRIRIGA, a privately held software company based in Las Vegas, Nev., with 8,247 percentage growth over three years.

Number 2 -- Sourcefire Inc., a privately held software company based in Columbia, Md., with 5,884 percentage growth over three years.

Number 3 -- Access Integrated Technologies Inc., a public software company based in Morristown, N.J., with 5,855 percentage growth over three years.

Qualifying Criteria for the Fast 500

The Fast 500 ranks the fastest growing technology companies in North America. It is compiled from Deloitte's 19 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research.

Winners are selected based on the percentage of growth in revenues from 1999 to 2003. To be considered, Fast 500 and Fast 50 entrants must have met the following criteria:

-- 1999 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2003 operating revenues must be at least $1 million USD or CD.

-- Must be a public or private company headquartered in North America and must have been in business a minimum of five years.

-- Must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.

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Note: For a complete list of the Deloitte Technology Fast 500 winners for 2004 (and past years), visit www.fast500.com.

All names are trademarks or registered trademarks of their respective companies and are used for information purposes only.

The Deloitte Technology Fast 500 contains general information only, and Deloitte is not, by means of this program, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. The Technology Fast 500 is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect you or your business. Past performance is not necessarily indicative of future results. In addition, prediction of future events is inherently subject to both known and unknown risks, uncertainties and other factors that may cause actual results to vary materially. Before making any decision or taking any action that may affect you or your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person or entity that relies on this program.

Contacts

Deloitte
Hiro Notaney, 408-704-2464
hnotaney@deloitte.com
or
TBPR
Teri Bruno, 714-536-8407
teribruno@aol.com

Contacts

Deloitte
Hiro Notaney, 408-704-2464
hnotaney@deloitte.com
or
TBPR
Teri Bruno, 714-536-8407
teribruno@aol.com