Concentric Network Named 13th of the 500 Fastest Growing Technology Companies Nationwide in Deloitte & Touche's Fast 500 Program
Concentric Earns Top Ranking Based on the Company's Tremendous Revenue Growth
SAN JOSE, Calif., Nov. 16 /PRNewswire/ -- Concentric Network Corporation (Nasdaq: CNCX - news), a leading provider of e-business solutions for small- to medium-sized companies, is named to Deloitte & Touche's prestigious Technology Fast 500, a ranking of the fastest-growing technology companies in the United States. Concentric ranked 13th nationwide, based on the company's strong revenue growth from 1994 to 1998.
''This validation from Deloitte & Touche is a testament to our talented team of employees at Concentric,'' said Henry R. Nothhaft, chairman, president and CEO of Concentric Network. ''This recognition not only highlights our tremendous revenue performance, but also underscores our ability to successfully execute in the marketplace. We are continuing to forge ahead as a leader in key areas such as DSL, applications hosting and virtual private networks, laying the foundation for continued aggressive growth.''
Now in its fifth year, the Fast 500 ranks the fastest-growing technology companies in the United States based on the percentage of growth in revenues from 1994 to 1998. Both public and private companies are included in the ranking, as well as many types of technology industries that in the end provide a snapshot of the industries that are driving the world economy today.
All companies on this year's list experienced an average revenue growth rate of 4,998% during the five-year period between 1994-1998, which is 69% percent more than last year's Fast 500 winners. Concentric specifically had an 18,635% increase during this five-year period. ''We are extremely pleased to be a part of this group of industry leading companies,'' noted Mr. Nothhaft. ''Who says 13 is not a lucky number?''
Earlier this year Concentric was named sixth in Deloitte & Touche's Fast 50 companies in the Silicon Valley. |
