SOURCE: Pacific Biometrics, Inc.

October 29, 2007 09:00 ET

Pacific Biometrics, Inc. Ranked 26th in Deloitte's Technology Fast 50 Program for Washington State

Attributes Its 144% Percent Revenue Growth to Business Development and Diversification of Clients

SEATTLE, WA--(Marketwire - October 29, 2007) - Pacific Biometrics, Inc. (PBI) (OTCBB: PBME) has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002-2006.

PBI's CEO Ron Helm credits aggressive business development efforts and a diversified client base with the company's 144% percent revenue growth from 2002-2006. Helm said, "Since 2002 we have focused considerable resources on expanding our business development and sales & marketing activities, together with substantial improvements and upgrades of our laboratory infrastructure. These investments have paid off, as witnessed by our fiscal 2006 and 2007 financial performance, which in terms of revenues are the two best years in the company's history. Moreover, as we have noted before, the company now has a larger number of active contracts and a smaller percentage of total revenues deriving from our top two clients than in prior years, indicating that we continue to broaden and diversify our client base. We expect this trend to continue with the recent introduction of Clinical Biomarker Services, a completely new addition to our service menu, and the further expansion of our business development team."

PBI's increase in revenues of 144 percent from 2002 to 2006 resulted in a 26th ranking in the Technology Fast 50 for Washington State.

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.

Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.

This year's Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie, Citibank, AH&T Insurance and the Puget Sound Business Journal.

About Pacific Biometrics, Inc. (PBI)

Established in 1989, PBI provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The company provides expert services in the areas of cardiovascular disease, diabetes, osteoporosis, arthritis, and nutrition. The PBI laboratory is accredited by the College of American Pathologists, and through its non-profit affiliate Pacific Biometrics Research Foundation, is one of only three U.S.-based members of the Centers for Disease Control (CDC) Cholesterol Reference Method Laboratory Network. PBI's clients include many of the world's largest pharmaceutical, biotech, and diagnostic companies.

For more information about Pacific Biometrics, visit the company's web site at www.pacbio.com.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements including to but not limited to our strategic planning and business development plans, our future growth, and the viability and acceptance of our products and services in the market. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to bid on and win laboratory services contracts, the success of our marketing and business development efforts, competition in the industry, and our ability to manage growth, as well as the risks and other factors set forth in our periodic filings with the U.S. Securities and Exchange Commission (including our Form 10-KSB for the year ended June 30, 2007 and our reports on Form 10-QSB for the quarters ended September 30, 2006, December 31, 2006, and March 31, 2007).

Contact Information

  • Contacts:

    Pacific Biometrics, Inc.
    Ron Helm
    CEO
    (206) 298-0068

    Kari Charbonnel
    (206) 298-0068