Net2Phone Named One of New Jersey's Fastest Growing Technology Companies in Deloitte & Touche Technology Fast 50 Program
Thursday August 14, 4:25 pm ET
NEWARK, N.J.--(BUSINESS WIRE)--Aug. 14, 2003--Net2Phone, Inc. (Nasdaq:NTOP - News), the leading provider of retail Voice over IP (VoIP) services, today announced that it has been named to Deloitte & Touche's prestigious Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1998-2002. This is the second time that Net2Phone has received this honor.
"Net2Phone is proud to be included in this ranking for the second consecutive year. As a communications provider utilizing data networks, we have proven ourselves to be thriving survivors of the telecom and 'dot com' implosions, and take great pride in our ability to adapt to the everchanging global economic conditions, resulting in us being the leader in delivering retail VoIP services worldwide," said Stephen Greenberg, Chief Executive Officer at Net2Phone. "Now, with our new corporate structure, the creation of Net2Phone Global Services (NGS) and Net2Phone Cable Telephony (NCT), we are able to better focus on the expansion of our cable telephony solution for MSOs, while continuing to grow our international VoIP presence for consumers and businesses worldwide."
"The Deloitte & Touche 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 successes of Net2Phone and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."
Net2Phone's increase in revenues of 1148% percent from 1998 to 2002 resulted in a ranking of #16 overall in the Fast 50 for New Jersey. The average increase in revenues among companies who made the Fast 50 for this region was 2,155% from 1998-2002.
To qualify for the Technology Fast 50, a company must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2002, must be a public or private company 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.
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast500.com.
About Net2Phone
Founded in 1995, Net2Phone is a leading provider of voice services over IP networks worldwide, enabling toll-quality calls between computers, telephones, and broadband devices. Recognized as the first Company to bridge the Internet with the public switched telephone network, Net2Phone has routed billions of minutes of traffic over its award-winning network. Incorporated within the company are (1) Net2Phone Global Services, which sells retail VoIP solutions globally and (2) Net2Phone Cable Telephony, which has developed a fully outsourced standards-compliant telephony solution for cable operators. Traded on the NASDAQ under the symbol NTOP, Net2Phone's strategic partners and investors include Liberty Media Corporation (NYSE: LMC.A; LMC.B) and IDT Corporation (NYSE: IDT; IDT.C). For more information about Net2Phone's products and services, please visit www.net2phone.com. |
