TORONTO, ONTARIO--(Marketwire - June 7, 2012) - GuestLogix Inc. (TSX:GXI), the leading global provider of onboard retail and payment technology solutions to airlines and the passenger travel industry, today announced that it made the 24th annual PROFIT 200 ranking of Canada's Fastest-Growing Companies by PROFIT Magazine. In addition, when compared to other publicly traded technology companies that appeared on the list, GuestLogix was the 5th fastest growing1.
"We are excited to, yet again, be ranked as one of Canada's Fastest-Growing Companies by PROFIT Magazine," said Tom Douramakos, President and CEO of GuestLogix. "Our progress over the past five years is a result of our continued success in fulfilling an increasing need in the global airline industry for advanced onboard retailing technology solutions. Currently, we have a 90% market share in North America and a 40% market share worldwide. We are committed to the further expansion of our customer base as we continue to bring best-in-class onboard retail and payment technology to the passenger travel industry."
Ranking Canada's Fastest-Growing Companies by five-year revenue growth, the PROFIT 200 profiles the country's most successful growth companies. Published in the Summer issue of PROFIT and online at PROFITguide.com, the PROFIT 200 is Canada's largest annual celebration of entrepreneurial achievement.
"The PROFIT 200 companies are an inspiration to Canadian entrepreneurs and would-be entrepreneurs," said Ian Portsmouth, Editor-in-Chief of PROFIT Magazine. "PROFIT is proud to celebrate the success of these businesspeople, who, despite a challenging economy, have achieved outstanding success in a wide variety of fields."
Founded in 2002 by Tom Douramakos and Brett Proud, along with a core team of product and software developers, GuestLogix has experienced rapid expansion both within Canada and across the globe. The Company has solidified itself as the leading provider of onboard retail solutions to the global passenger travel industry based on its founding principle of technology innovation.
1. Cantech Letter, June 4, 2012 (http://www.cantechletter.com/2012/06/canadas-fastest-growing-tech-stocks-2012/)
About PROFIT Magazine
PROFIT: Your Guide to Business Success is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 30 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at PROFITguide.com.
GuestLogix Inc. (TSX:GXI), the leading global provider of onboard store technology and merchandising solutions, helps airlines and other travel operators create, manage, and control onboard retail environments tailored to their needs and their passengers. GuestLogix brings a decade of expertise as a trusted onboard transaction processing partner to airlines around the world. The Company's global headquarters and centre for product innovation is located in Toronto, Canada with regional head offices located in Dallas, Texas (serving Americas) London, UK (serving EMEA), and Hong Kong (serving Asia Pacific). A sales and support office is located in Singapore. Logistics centres are situated in Toronto, Dallas, London and Seoul with a software development centre located in India. More information is available at www.guestlogix.com.
© 2012 GuestLogix. All rights reserved.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on May 14, 2012 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.