SOURCE: Compellent Technologies

Compellent Technologies

May 04, 2009 17:30 ET

Compellent Named Fastest Growing Public Company by Minneapolis / St. Paul Business Journal

Efficiency Drives Demand for Company's Modular, Scalable Data Storage

EDEN PRAIRIE, MN--(Marketwire - May 4, 2009) - Compellent Technologies, Inc. (NYSE: CML) today announced it was ranked number one on the Minneapolis/St. Paul Business Journal's "Top 25 Fastest-growing Public Companies List" for 2009.

"In a time of decreased IT spending, we reported record revenues in Q1 and our 14th consecutive quarter of sequential growth. We see this as a direct result of our technology innovations and the positive aggressive culture we foster at Compellent," said Phil Soran, president and CEO, Compellent. "To cope with data growth and shrinking budgets, enterprises are increasingly turning to the Compellent storage solution to slash costs and simplify management. It's an honor to be at the top of this year's fastest growing public companies list."

The Midwest has been heralded as an innovation hotbed, with just one fewer Fortune 500 companies than California, yet only 14 percent of California's population (5.2 million versus 36.7 million). Most recently, McKinsey & Company partnered with the World Economic Forum to create an "Innovation Heat Map" which examined more than 700 variables to identify global regions contributing to worldwide technological evolution. At the center of the map resides Minneapolis-St. Paul, a region identified for its large, vibrant ecosystem and steady stream of innovations.

Minneapolis/St. Paul Business Journal's "Top 25 Fastest-growing Public Companies List" for 2009 used the following methodology to qualify the rankings, and the companies were then ranked by average annual growth rate over the past three fiscal years -- from base year 2005 through 2008. Public companies with headquarters in Minnesota that met the following criteria were considered for the list: founded on or before Jan. 1, 2005, published financial data for the past four years with at least $1 million in revenue in the base year 2005 and revenue growth during the most-recently completed fiscal year.

About Compellent

Compellent is a leading provider of enterprise-class network storage solutions that are highly scalable, feature rich, and designed to be easy to use and cost effective. Compellent Technologies' principal offices are located in Eden Prairie, Minn. For more information, please visit: http://www.compellent.com.