Thought you might be interested in this:
ADIC's 470% Five-year Growth Rate Earns 3rd Consecutive Listing as One of Washington's Fastest Growing High Tech Companies
REDMOND, Wash.--(BUSINESS WIRE)--Oct. 5, 1999--Advanced Digital Information Corporation (Nasdaq: ADIC) today announced that it has been recognized as one of the 50 fastest-growing high technology companies in Washington state.
The company's five-year revenue growth rate of 470% placed it 25th in Deloitte & Touche's Washington High Technology Fast 50 rankings. ADIC, which became an independent corporation at the end of 1996, has appeared on the Fast 50 list three years in a row -- in all of the years it was eligible for the listing.
The Deloitte & Touche Fast 50 listing is designed to acknowledge leadership among the state's technology companies with the highest sustained growth rates over the last five years. ADIC's current annual revenue, based on current run rates, is over $225 million with revenue in the last fiscal quarter (ending July 30) of just over $57.
ADIC is one of the world's leading suppliers of data storage solutions for client-server computer networks. It has an installed base of more than 45,000 automated tape libraries, and an expanding suite of specialized storage management software tools designed to help companies protect, organize, and share information. The company has recently announced a strategic investment in @Backup, a leading supplier of online backup services, and the acquisition of CentraVision, software that allows the kinds of very large files associated with video and film editing to be shared among users over Fibre Channel Storage Area Networks (SANs).
According to ADIC CEO Peter van Oppen, "We're proud to have received Fast 50 recognition in each of our first three years as an independent, publicly held company. We are committed to expand our innovative data management solutions for organizations facing an explosion in the volume and value of their data due to internal growth, increased Internet communications, or e-business conversion. Our continued success demonstrates both the strength of our team and the momentum of our market." |
