Wednesday October 6, 3:39 pm Eastern Time
Company Press Release
SOURCE: Able Telecom Holding Corp.
Able Telcom Holding Corp. Included in Bloomberg's Fastest Growing 'Tech 100'
Ranked #42 by Annual Sales Growth
ROSWELL, Ga., Oct. 6 /PRNewswire -- Able Telcom Holding Corp. (Nasdaq: ABTE - news) today announced its inclusion in ''The Tech 100,'' a featured list in the October issue of Bloomberg Personal Finance showcasing the nation's fastest growing technology companies. The top 100 companies were culled from the more than 4,400 U.S. technology stocks in the Bloomberg database.
For the measurement period -- using companies' most recent full year performance up to Aug. 2, 1999 -- annual sales for Able Telcom were reported at $217 million, and annual sales growth was listed at 152% (these figures are for Able's fiscal year ended Oct. 31, 1998). To exclude companies with one-time growth spurts, Tech 100 companies were also required to have at least 25% growth in the last quarter in which full financial results were reported to the Bloomberg database. Able's quarterly sales growth was listed at 260%, with a total year-to-date return of 53%.
Commenting on the Bloomberg listing, Billy V. Ray, Chairman and CEO of Able Telcom, said, ''Over 25% of the companies in the Tech 100 were involved with telecommunication or telecom services. Clearly, this underscores the extraordinary strength of our sector and the growing demand for e-commerce, and broadband fiber optic networks.''
Able Telcom Holding Corp. is a leading turnkey network and systems integration provider to the communications and transportation industries in the United States and South America. Since 1988, the Company has deployed more fiber miles than any other systems integrator. Able's unique one-stop service capabilities include the development, design, engineering, project management, installation, construction, operation and ongoing maintenance services for
both telecommunications/communication systems and for intelligent transportation and automated toll collection systems. The Company has developed some of the most advanced and sought after hardware/software solutions for Intelligent Transportation Systems (ITS) and has successfully completed projects with numerous state departments of transportation and toll collection agencies. |
