Technology Fast 500 - Deloitte LLP

This analysis provides a recap of the 2007 Technology Fast 500. Use the anchor links below to visit a specific part of the analysis.

Top 5 Companies on Deloitte’s 2007 Technology Fast 500
Interesting Stats About the Top 10 Companies
No Repeat Companies in 2007 Top 10
Repeat Companies
Growth Percentages
Geography of the Fast 500
Region With the Greatest Average Growth Rates
Average Percent Growth by Region
Regional Breakdown
Fast 500 Companies in Top Technology Centers
Industry Breakdown (in order of greatest percentage)
Average Percent Growth by Industry
Repeat Companies From 2006 Fast 500’s Top 10
Past Number 1 Companies: Where Are They Now?
Largest Companies on the Fast 500 (in order of revenue)
Public or Privately Held
Rising Stars

Top 5 Companies on Deloitte’s 2007 Technology Fast 500

Sirius Satellite Radio Inc. (NASDAQ: SIRI) was named the fastest growing company in North America, topping the 2007 Deloitte Technology Fast 500, a ranking of the fastest growing companies in North America based on a percentage revenue growth over five years (fiscal year revenues 2002–2006) by Deloitte & Touche USA, LLP. Sirius had a revenue growth rate over five years of 79,060 percent, moving from revenues of $805,000 in 2002 to $637,235,000 in 2006. Based in New York City, Sirius (www.sirius.com) is a publicly held provider of satellite radio services. This is its first appearance on the Fast 500 ranking.
SkyBitz Inc., a Sterling, Va.-based privately held communications/networking company, came in second on the 2007 Fast 500 listing. SkyBitz (www.skybitz.com), a company that provides wireless tracking sensors for the transportation industry, reported revenues of $26,673,000 in 2006, a leap of 40,314 percent from 2002 revenues of $66,000. This is its first appearance on the Fast 500 ranking.
iTech US Inc., a privately held software company based in South Burlington, Vt., came in third on the 2007 Fast 500 listing. iTech US (www.itechus.com), which provides IT services and business process outsourcing solutions, reported revenues of $28,434,000 in 2006, a leap of 39,392 percent from 2002 revenues of $72,000. This is its first appearance on the Fast 500 ranking.
First Solar Inc. (NASDAQ: FSLR), a Phoenix-based publicly held semiconductor company, came in fourth on the 2007 Fast 500 listing. First Solar (www.firstsolar.com), which manufactures solar modules, reported revenues of $134,974,000 in 2006, a leap of 27,446 percent from 2002 revenues of $490,000. This is its first appearance on the Fast 500 ranking.
ISTS Worldwide Inc., a Fremont, Ca.-based privately held software company, came in fifth on the 2007 Fast 500 listing. ISTS Worldwide (www.istsinc.com), an IT consulting and solutions company for the retail sector, reported revenues of $10,064,000 in 2006, a leap of 19,254 percent from 2002 revenues of $52,000. This is its first appearance on the Fast 500 ranking.

Interesting Stats About the Top 10 Companies

Number 1 Sirius Satellite Radio Inc. (based in New York City) is the only media/entertainment company in the Top 10.
Eight of the Top 10 are privately held companies (only 2 are publicly traded).
None of the Top 10 companies have appeared on the Fast 500 listing in previous years; this is the first year each Top 10 company has appeared on the Fast 500 ranking.
Four of the Top 10 are based in the West.
Three of the Top 10 are based in the Northeast.
Two of the Top 10 are based in the Southeast.
One of the Top 10 is based in the Southwest (same for 2006 and 2005).
Four of the Top 10 are software companies.
Two of the Top 10 are communications/networking companies.
One of Top 10 is from each of the following categories: media/entertainment, semiconductor, medical equipment, and Internet.

No Repeat Companies in 2007 Top 10

For the first time ever, all of the Top 10 companies are newcomers on the Fast 500 ranking. Not one of these companies has previously appeared on the Fast 500 listing.

Repeat Companies

Note: There were no 13-, 12-, 11-, or 10-time repeat companies.

One company has ranked on the Fast 500 list for nine years:

Number 287-ranked Gilead Sciences Inc. (NASDAQ: GILD), a Biotechnology/Pharmaceutical company based in Foster City, Calif.

Three companies have ranked on the Fast 500 list for eight years:

Number 209-ranked Open Solutions Inc. (NASDAQ: OPEN), a software company based in Glastonbury, Conn.
Number 280-ranked Celgene Corporation (NASDAQ: CELG), a biotechnology/pharmaceutical company based in Summit, N.J.
Number 336-ranked Research In Motion (NASDAQ: RIMM; TSX: RIM), a communications/networking company based in Ontario, Canada.

There were also six companies on the list seven times; six companies on the list six times; 15 five-time companies; 50 four-time companies; 78 three-time companies; and 122 two-time companies. This year, 219 companies appeared on the Fast 500 listing for the first time.

Growth Percentages

The 2007 Top Five companies’ growth rate averaged 41,093 percent over five years, up from 38,107 percent in 2006 but down from 45,531 percent in 2005, 183,337 percent in 2004, 177,851 percent for 2003, and 196,762 percent for 2002. The 2001 top five companies’ average was 93,496 percent, and the top five companies’ growth rate averaged 59,367 percent in 2000.
Overall average growth for all 500 companies was 1,823 percent, down from 2,145 percent in 2006, 2,408 in 2005 and 4,109 percent in 2004.
Fast 500 Average Growth Percentages by Program Year

2007 — 1,823 percent
2006 — 2,145 percent
2005 — 2,408 percent
2004 — 4,109 percent
2003 — 5,493 percent
2002 — 6,772 percent
2001 — 6,184 percent
2000 — 3,956 percent
1999 — 4,998 percent
1998 — 2,958 percent
1997 — 2,500 percent
1996 — 2,712 percent
1995 — 2,834 percent

Revenue growth for the 2007 Fast 500 companies ranged from 253 percent to 79,060 percent, compared with 209 percent to 48,948 percent for 2006 companies, 240 percent to 73,752 percent for 2005 companies, 329 percent to 437,115 percent for 2004 companies, 469 percent to 296,080 percent for 2003 companies, 614 percent to 293,493 percent for 2002 companies, 824 percent to 115,874 percent for 2001 companies, and 593 percent to 71,257 percent for 2000 companies.

Geography of the Fast 500

The Northeast United States boasts the most companies on the Fast 500 listing this year with 30 percent (152 companies) of the list, up from 28 percent (138 companies) in 2006, up from 25 percent (123 companies) in 2005, and up from 22 percent (110 companies) in 2004. This year, the Number 1-ranked company is located in the Northeast.
The Western United States is home to 29 percent (144 companies) this year, up slightly from 28 percent (139 companies) in 2006 and 28 percent (139 companies) in 2005, down from 34 percent (167 companies) in 2004 and from 32 percent (162 companies) in 2003, and down from 36 percent (180 companies) in 2002. This year, four of the Top 10 companies are based in the West.
California retains its title as home to more Fast 500 technology companies than any other state with 25 percent (123 companies) based there, up from 23 percent (116 companies) in 2006 and from 21 percent (105 companies) in 2005, down slightly from 26 percent (130 companies) in 2004, the same as 25 percent (126 companies) in 2003, and down from 30 percent (149 companies) in 2002. Northern California is home to 70 companies, while Southern California has 45 companies.
U.S. states and Canadian Provinces with a large number of companies (from largest to smallest) include:
- California with 123 companies, up from 116 companies in 2006.
- New Jersey with 48 companies, up from 37 companies in 2006.
- Canada with 42 companies, down from 56 companies in 2006.
- Massachusetts with 42 companies, up slightly from 39 companies in 2006.
- Texas with 37 companies, down from 46 companies in 2006.
- New York with 28 companies, up from 23 companies in 2006.
- Virginia with 24 companies, down from 34 companies in 2006.
- Maryland with 18 companies, down from 23 companies in 2006.
Canada holds 8 percent (42 companies) of this year’s companies, down from 11 percent (56 companies) in 2006 and from 10 percent (53 companies) in 2005, down from 2004’s 11 percent (55 companies), down from 14 percent (68 companies) in 2003, and down from 10 percent in 2002. The highest ranked Canadian Fast 500 company for 2007 is Number 26-ranked ViXS Systems Inc., a privately held computer/peripheral company based in Toronto, Ontario, Canada. Westport reported revenues of $16,692,000 in 2006, a leap of 6,472 percent from 2002 revenues of $254,000. This is its first appearance on the Fast 500 ranking.

Region With the Greatest Average Growth Rates

The Northeastern United States is the high-tech leader with the largest average growth rate for its companies. Fast 500 companies in the Northeast had an average percentage growth of 2,169 percent, compared to 1,815 percent in 2006.

Average Percent Growth by Region

Northeastern United States Fast 500 companies had the highest average revenue growth of all the regions with 2,169 percent, up from 1,825 percent in 2006, up from 1,948 percent in 2005 and up from 1,864 percent in 2004.
Southwestern United States Fast 500 companies had average revenue growth of 2,133 percent, down from 2,335 percent in 2006, down from 2,615 percent in 2005 and up from 1,727 percent in 2004.
Southeastern United States Fast 500 companies grew average revenues by 2,105 percent, up from 1,606 percent in 2006, up from 2,081 percent in 2005 and up from 1,886 percent in 2004.
Western United States Fast 500 companies had average revenue growth of 1,692 percent, down from 2,126 percent in 2006, down from 3,137 percent in 2005 and down from 8,790 percent in 2004.
Midwestern United States Fast 500 companies had average revenue growth of 1,030 percent, down from 1,818 percent in 2006, down from 2,165 percent in 2005 and down from 1,408 percent in 2004.
Canadian Fast 500 companies had average revenue growth of 984 percent, down from 3,876 percent in 2006, down from 2,195 percent in 2005 and down from 1,597 percent in 2004. Their revenues were calculated in Canadian dollars.

Regional Breakdown

Northeastern United States — 30 percent (152 companies), up from 28 percent (138 companies) in 2006, up from 25 percent (123 companies) in 2005 and up from 22 percent (110 companies) in 2004.
Western United States — 29 percent (144 companies), up from 28 percent (139 companies) in 2006 and from 28 percent (139 companies) in 2005 and down from 34 percent (168 companies) in 2004.
Southeastern United States — 16 percent (78 companies), down from 18 percent (90 companies) in 2006, down from 20 percent (100 companies) in 2005 and the same as 16 percent (80 companies) in 2004.
Southwestern United States — 9 percent (42 companies), the same as 9 percent (46 companies) in 2006, the same as 9 percent (44 companies) in 2005 and up from 7 percent (37 companies) in 2004.
Canada — 8 percent (42 companies), down from 11 percent (56 companies) in 2006, down from 10 percent (53 companies) in 2005 and down from 11 percent (54 companies) in 2004.
Midwestern United States — 8 percent (42 companies), up from 6 percent (31 companies) in 2006, the same as 8 percent (41 companies) in 2005 and down from 10 percent (51 companies) in 2004.

Fast 500 Companies in Top Technology Centers

California — 25 percent (123 companies, with 70 in Northern California and 53 in Southern California)
New York Tri-State (New Jersey, New York and Connecticut combined) — 18 percent (91 companies)
Greater Washington DC Area (Maryland, Virginia and Washington DC combined) — 8 percent (42 companies)
Canada — 8 percent (42 companies)
Massachusetts — 8 percent (42 companies)
Washington and Oregon combined — 3 percent (13 companies)
Other states — 29 percent (147 companies)

Industry Breakdown (in order of greatest percentage):

Software — 37 percent (185 companies), up slightly from 36 percent (179 companies) in 2006, consistent with 37 percent (186 companies) in 2005 and down slightly from 38 percent (192 companies) in 2004.
Communications and networking — 16 percent (81 companies), up from 13 percent (65 companies) in 2006, up from 14 percent (70 companies) in 2005 and 14 percent (72 companies) in 2004.
Biotechnology and pharmaceutical — 12 percent (60 companies), down from 15 percent (76 companies) in 2006 and down from 16 percent (82 companies) in 2005. In previous years, this category was part of the life sciences category.
Internet — 12 percent (61 companies), the same as 12 percent (60 companies) in 2006, fairly consistent with 11 percent (57 companies) in 2005 and down from 14 percent (70 companies) in 2004.
Medical equipment — 6 percent (31 companies), the same as 6 percent (31 companies) in 2006, down from 8 percent (39 companies) in 2005. In previous years, this category was part of the life sciences category.
Scientific/technical instrumentation — 6 percent (29 companies), up slightly from 5 percent (27 companies) in 2006 and consistent with 6 percent (29 companies) in 2005. In previous years, this category was part of the semiconductor/equipment category.
Semiconductor — 5 percent (22 companies), down slightly from 5 percent (23 companies) in 2006 and consistent with 4 percent (20 companies) in 2005. In previous years, this category was part of the semiconductor/equipment category.
Computers and peripherals — 4 percent (21 companies), down from 6 percent (29 companies) in 2006, consistent with 4 percent (17 companies) in 2005 and down from 6 percent (27 companies) in 2004.
Media and entertainment — 2 percent (10 companies), consistent with 2 percent (10 companies) in 2006. This is the second year this category has been included on the Fast 500 listing.

Average Percent Growth by Industry

Media/Entertainment — 9,021 percent, up from 675 percent in 2006
Semiconductors — 2,289 percent, down from 2,313 percent in 2006
Communications/Networking — 1,954 percent, down from 3,778 percent in 2006
Software — 1,759 percent, down from 1,822 percent in 2006
Biotechnology/Pharmaceutical — 1,642 percent, down from 1,897 percent in 2006
Internet — 1,562 percent, down from 2,299 percent in 2006
Computers/Peripherals — 1,316 percent, up from 883 percent in 2006
Medical equipment — 1,307 percent, down from 1,553 percent in 2006
Scientific/Technical instrumentation — 877 percent, down from 3,156 percent in 2006

Repeat Companies From 2006 Fast 500’s Top 10

Five of last year’s Top 10 companies made the 2007 Fast 500 Ranking:

Litle & Co., Number 3 in 2006, ranked Number 17 in 2007
NewMarket Technology Inc., Number 5 in 2006, ranked Number 21 in 2007
DragonWave Inc., Number 7 in 2006, ranked Number 235 in 2007
I-trax Inc., Number 8 in 2006, ranked Number 55 in 2007
Imaging Dynamics Company Ltd., Number 9 in 2006, ranked Number 33 in 2007

Past Number 1 Companies: Where Are They Now?

In the Fast 500’s 12-year history, two previous Number 1 companies rank on the 2007 list: 2005’s Nuvasive Inc. and 2004’s Google, ranked Number 231 and Number 70, respectively. Being acquired has proven to be a popular path for former Number 1 companies on the list with seven of the 12 taking that route.

Here’s a look at where the past Number 1 Fast 500 companies are today:

2006: Occam Networks Inc., Santa Barbara, Calif.: Independent.
2005: NuVasive, Inc., La Jolla, Calif.: Independent.
2004: Google, Mountain View, Calif.: Independent.
2003: TheraSense Inc., Alameda, Calif.: Acquired by Abbott Diabetes Care in 2003.
2002: ITXC Corp., Princeton, N.J.: Acquired by Teleglobe Inc. in 2004, which was subsequently acquired by VSNL in 2005.
2001: eBay Inc., San Jose, Calif.: Independent.
2000: Primus Telecommunications Group, Inc., McLean, Va.: Independent.
1999: Siebel Systems Inc., San Mateo, Calif.: Acquired by Oracle in 2006.
1998: Advanced Fibre Communications Inc., Petaluma, Calif.: Acquired by Tellabs Inc. in 2004.
1997: Integrated Process Equipment Corp., San Jose, Calif.: Acquired by SpeedFam in 1999, creating SpeedFam-IPEC, which was later acquired by Novellus Systems in 2002.
1996: AmeriData Technologies, Stamford, Conn.: Acquired by GE Capital Information Technology Solutions in 1996, which later merged with CompuCom Systems in 2005.
1995: Ascend Communications, Alameda, Calif.: Acquired by Lucent Technologies in 1999, which is merging with Alcatel.

Largest Companies on the Fast 500 (in order of revenue):

There are 16 companies, 15 public and one private, whose 2006 revenues exceed $1 billion. These companies, in order of revenue, are:

Number 195 AstraZeneca Pharmaceuticals LP, a privately held biotechnology/pharmaceutical company based in Wilmington, Del., with 2006 revenues of $26.5 billion. This is its first appearance on the Fast 500 ranking.
Number 70 Google Inc. (NASDAQ: GOOG), and Internet company from Mountain View, Calif., with 2006 revenues of $10.6 billion. It was ranked Number 41 in 2006, Number 14 in 2005 and Number 1 in 2004.
Number 487 Genentech Inc. (NYSE: DNA), a biotechnology/pharmaceutical company from South San Francisco, Calif., with 2006 revenues of $9.3 billion. It ranked Number 479 in 2006.
Number 217 Liberty Media Corporation (NASDAQ: Nasdaq: LINTA, LCAPA), a media/entertainment company based in Englewood, Colo., with 2006 revenues of $8.6 billion. It ranked Number 262 in 2006.
Number 270 Yahoo! Inc. (NASDAQ: YHOO), an Internet company from Sunnyvale, Calif., with 2006 revenues of $6.4 billion. It was ranked Number 241 in 2006, Number 353 in 2002, Number 99 in 2001, and Number 6 in 2000.
Number 456 Symantec Corporation (NASDAQ: SYMC), a software company based in Cupertino, Calif., with 2006 revenues of $4.1 billion. It was ranked 328 in 1995.
Number 308 SanDisk Corporation (NASDAQ: SNDK), a semiconductor company from Milpitas, Calif., with 2006 revenues of $3.3 billion. It was ranked Number 281 in 2006 and Number 487 in 2004.
Number 287 Gilead Sciences Inc. (NASDAQ: GILD), a biotechnology/pharmaceutical company from Foster City, Calif., with 2006 revenues of $3.0 billion. Gilead Sciences has appeared 9 times on the Fast 500 ranking. It was ranked Number 206 in 2006; Number 267 in 2005; Number 415 in 2004; Number 236 in 2003; Number 124 in 2000; Number 401 in 1999; Number 354 in 1998; and Number 361 in 1997.
Number 279 Biogen Idec Inc. (NASDAQ: BIIB), a biotechnology/pharmaceutical company based in Cambridge, Mass., with 2006 revenues of $2.7 billion. It was ranked Number 150 In 2005 and Number 380 in 2004.
Number 336 Research In Motion (NASDAQ: RIMM; TSX: RIM), a communications/networking company based in Ontario, Canada, with 2006 revenues of $2.5 billion. It was ranked Number 342 in 2006; Number 290 in 2005; Number 361 in 2004; Number 243 in 2003; Number 167 in 2002; Number 298 in 2001; and Number 186 in 2000.
Number 239 Armor Holdings Inc. (NASDAQ: AH), a scientific/technical instruments company from Jacksonville, Fla., with 2006 revenues of $2.4 billion. This is its first appearance on the Fast 500 ranking.
Number 420 Juniper Networks Inc. (NASDAQ: JNPR), a communications/networking based in Sunnyvale, Calif., with 2006 revenues of $2.3 billion. It ranked Number 65 in 2004 and Number 31 in 2003.
Number 363 Dade Behring Holdings Inc. (NASDAQ: DADE), a scientific/technical instrumentation company based in Deerfield, Ill., with 2006 revenues of $1.7 billion. This is its first appearance on the Fast 500 ranking.
Number 150 MetroPCS Communications Inc. (NASDAQ: PCS), a communications/networking company based in Dallas, with 2006 revenues of $1.5 billion. This is its first appearance on the Fast 500 ranking.
Number 294 Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a software company based in Teaneck, N.J., with 2006 revenues of $1.4 billion. It was ranked Number 334 in 2006; Number 400 in 2005; Number 492 in 2002; Number 438 in 2001; and Number 312 in 2000.
Number 364 Sepracor Inc. (NASDAQ: SEPR), a biotechnology/pharmaceutical company based in Marlborough, Mass., with 2006 revenues of $1.2 billion. It was ranked Number 314 in 2006; Number 380 in 2005; Number 157 in 2004; Number 158 in 2003, and Number 380 in 2002.

Public or Privately Held

52 percent (259 companies) of the Fast 500 companies are publicly held, up from 49 percent in 2006, down slightly from 53 percent (266 companies) in 2005, down from 59 percent (296 companies) in 2004, and down from 62 percent (309 companies) in 2003 and 65 percent in 2002.
Eight of the Top 10 companies are privately held.

Rising Stars

As an accompaniment to the Fast 500, Deloitte also honors 25 “Rising Star” companies. Eligibility is the same for “Rising Star” companies, except that they must have been in business a minimum of three years but less than five years; they are selected based on percentage revenue growth over three years, from fiscal years 2004–2006.

Deloitte’s Top 3 “Rising Stars” for 2007 are:

oDesk Corporation, a privately held Internet company based in Menlo Park, Calif., with 4,573 percent growth over three years.
Distributive Networks, a privately held communications/networking company based in Washington, D.C., with 4,261 percent growth over three years.
AdBrite Inc., a privately held Internet company based in San Franciso, with 2,741 percent growth over three years.


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