RAVISENT Technologies Inc. Named the #1 Fastest Growing Technology Company in Deloitte & Touche Fast 50 Program; Experiences 23,731 Percent Sales Growth Over Five Years
MALVERN, Penn.--(BUSINESS WIRE)--Sept. 30, 1999--RAVISENT Technologies Inc. (NASDAQ NMS: RVST), a leading developer of software solutions enabling streaming digital video and audio management for manufacturers of PCs, consumer electronic devices and set top boxes, was revently named the number one company in Deloitte & Touche's prestigious Fast 50 Program for Eastern Pennsylvania, a ranking of the 50 fastest growing technology companies in the area. Rankings are based on the percentage of growth in revenues from 1994-1998.
"It is truly an honor to be recognized as the number one fastest growing technology company in Eastern Pennsylvania by Deloitte & Touche's Fast 50 program," said Frank Wilde CEO for RAVISENT. "With the growing worldwide demand for customizable, upgradeable technology to deliver video sources like HDTV, digital video, satellite, cable and others, RAVISENT is well positioned to continue its unprecedented growth."
"In an era where technology companies come and go like shooting stars, making the Deloitte & Touche 'Fast 50' is a testament to a company's leadership and its ability to not only have the right solution for that moment in time, but also the vision that allows growth over five years," states Michael J, Purcell, Partner, Philadelphia. RAVISENT has proven that they have the right stuff to succeed, and we at Deloitte & Touche salute their accomplishments."
To qualify for the Fast 50, companies must have had revenues of at least $50,000 in 1994 and at least $1,000,000 in 1998; must be public or private companies headquartered in the region; and be "technology companies" defined as a company that produces technology, manufactures a technology product, is technologically intensive, uses technology in problem-solving, or devotes a high percentage of effort to research and development of technology.
Winners of the 19 regional Fast 50 programs in the United States are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks the nation's top 500 fastest-growing technology companies.
For more information on the Deloite & Touche Fast 50 or Fast 500 programs, visit the web site at www.fast50.com.
About RAVISENT Technologies Inc.
RAVISENT is driving the digital entertainment revolution with an integrated suite of innovative digital video and audio products for PC and consumer electronics manufacturers. RAVISENT enables the convergence of personal computer and consumer electronics devices through software and hardware products designed around a unique, modular software architecture that provides a consistent look and feel across technology platforms. Combining outstanding on-screen quality with high overall system performance and integration, RAVISENT provides flexible and cost-effective solutions to a spectrum of partners in the PC-OEM, CE-OEM and semiconductor markets, including Acer, Compaq, Dell Computer, Gateway, Hewlett-Packard, Micron, Fujitsu, Packard Bell/NEC, Quantex, Sony, Tottori-Sanyo, Vestel, Yamaha, ATi Technologies, C-Cube, and ST Microelectronics.
Founded in 1994, RAVISENT is headquartered in Pennsylvania and has offices in the Silicon Valley, Seattle, Germany and Japan. Information about RAVISENT can be found on the World Wide Web at www.ravisent.com.
All companies and product names mentioned herein are for identification purposes only and may be trademarks and/or registered trademarks of their respective companies.
This press release may contain certain forward-looking statements that relate to RAVISENT's future business and financial performance. Such statements are subject to a number of risks and uncertainties that may cause the actual events of future results to differ from those discussed herein. Such factors include, among others: RAVISENT's recent change in its business model, its limited operating history, fluctuating quarterly operating results, expectation of future losses, anticipated price declines in products, dependence on its CineMaster products, dependence on a small number of customers, lack of long-term commitments with customers, dependence on manufacturers and strategic relationships, product delays, the difficulty of protecting proprietary rights, the ability to manage growth and attract and retain additional personnel, the potential for defects in its products, risks from international operations, its ability to raise capital in the future, its dependence on the personal computer and consumer electronics industries, competition, its ability to manage technological change and respond to evolving industry standards, government regulation and Year 2000 software issues.
CONTACT:
RAVISENT Technologies Inc.
Lori Crenny
610/408-7494
lcrenny@ravisent.com
or
RAVISENT Technologies Inc.
Idalia Rodriguez
610/407-7282
irodriguez@ravisent.com
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