Here is an old article on ACTC:ALL WHO BOUGHT THE STOCK SHOULD READ.
Applied Cellular Technology, Inc. Is Ranked As The Ninth Fastest Growing Technology Company In The Deloitte & Touche 'Fast 500' Program
PR Newswire - November 23, 1998 13:01
PALM BEACH, Fla., Nov. 23 /PRNewswire/ -- Applied Cellular Technology, Inc. (Nasdaq: ACTC) has been named to Deloitte & Touche's prestigious "Fast 500" Program, a ranking of the 500 fastest growing technology companies in the U.S. Rankings are based on five-year percentage growth in revenues from 1993- 1997. The companies featured in this program can be previewed in the Deloitte & Touche Forbes November 30th ASAP insert.
Applied Cellular's Chairman & CEO Richard J. Sullivan commented, "We are honored to achieve this listing from Deloitte & Touche, which underscores the successful growth record that our Company has established during the past five years. Applied Cellular expects to report record revenue of approximately $215 million for the 1998 calendar year, which represents a cumulative growth rate of 523,390 percent over the six-year period of 1993 to 1998."
"To attain a listing on the Fast 500 is no easy feat, and we at Deloitte & Touche congratulate Applied Cellular Technology, Inc. for attaining this honor," said Mark Evans, Managing Director Deloitte & Touche High Technology Industry Group. "In today's fast-paced world of technology, where multi- million dollar technology companies seem to appear overnight, it's an honor to be named one of the fastest growing technology companies. We commend Applied Cellular Technology, Inc. for making the commitment to technology and delivering on the promise of market longevity."
Applied Cellular Technology's increase in revenues of 25,061 percent over the five-year period of 1993 to 1997 resulted in a nine (9) ranking overall in the Technology Fast 500. The average increase in revenues among companies who made the Fast 500 was 2,958 percent.
To qualify for the Fast 500, companies must have had revenues of at least $50,000 in 1993; must be headquartered in the United States; and be "technology companies" defined as companies that produce technology, manufacture a technology product, are technologically intensive, use technology in problem-solving, or de votes a high percentage of effort to research and development of technology.
Technology Fast 500 Winners are invited to an exclusive two-day conference that will be held from April 30 to May 1, 1999 at the Arizona Biltmore in Phoenix. The conference was designed to address the unique business issues facing these super-charged, technology companies.
For more information on Deloitte & Touche Technology Fast 500 program, visit the website at us.deloitte.com.
Applied Cellular Technology, Inc. is a diversified communications technology company. The Company's goal is to provide customers with integrated communications systems that are fast, reliable and cost effective. For further information visit the Company's website at appliedcell.com
Deloitte & Touche, one of the nation's leading professional services firms, provides accounting and auditing, tax, and management consulting services through 23,000 people in offices in over 100 U.S. cities. Deloitte & Touche is part of Deloitte & Touche Tohmatsu, a global leader in professional services with more than 72,000 people in over 125 countries.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such forward-looking statements be subjected to the safe harbors created thereby. Since these forward-looking statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
SOURCE Applied Cellular Technology, Inc.
/CONTACT: Hayden, Buczek & Assoc., 843-272-4653, for Applied Cellular
Technology, Inc./
/Web site: us.deloitte.com
/Web site: hba-marketplace.com
/Web site: appliedcell.com
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