Deloitte

Deloitte

September 28, 2005 13:20 ET

Ottawa-based Cognos Honoured with Prestigious Deloitte Sustained Excellence Award

OTTAWA, ONTARIO--(CCNMatthews - Sept. 28, 2005) -

Five Area Companies Among the 2005 Deloitte Fast 50 Recipients - Recognized for Leadership, Innovation and Growth

Four Ottawa-based companies have been recognized as some of Canada's fastest growing technology companies in the 2005 Deloitte Technology Fast 50, the annual program which recognizes excellence in Canadian companies through factors such as strong business performance, intellectual property, strength of management and growth rate. In addition, Business Intelligence (BI) solutions developer Cognos Inc. was awarded with the prestigious Deloitte Sustained Excellence award, a Fast 50 award which recognizes exceptional organic and revenue growth, sound business strategy execution and significant presence in a sizeable and growing market segment.

Deloitte has taken a new approach to the Fast 50 program in recognition that as the tech sector in Canada develops, the dynamics are changing. Award categories for sector leadership, sustained excellence and next generation technology overachievers have been established. These awards expand beyond recognizing only financial performance to take into account other business practices such as quality of management, competitiveness, market size and a range of financial performance measures.

Ottawa-based BI leader Cognos, was honoured with the Deloitte Sustained Excellence award thanks to its consistent growth, strong balance sheet and profitability. Cognos, founded in 1969, has expanded its market footprint and presence over the years and boasts superior gross margins among its direct competitors.

"We are very pleased to be recognized as a leader not only in our respective market, but also in the Canadian technology industry," said Rob Ashe, President and CEO, Cognos. "Cognos invests tremendous resources in developing innovation and leadership within our organization - two important attributes that has helped our company to succeed on a global scale for a long period of time."

"This year's Fast 50 winners are not only innovators, but also operators who know how to take advantage of opportunities when they arise," said Garry Foster, National Leader with Deloitte's Technology, Media and Telecommunication practice. "This year's ranking features several bigger companies and companies that have excelled at competing on an international basis."

Leading the ranking among Ottawa Fast 50 recipients is multiple-year winner Protus IP Solutions which provides value-added communications solutions and services for companies worldwide. Protus IP Solutions ranked 14 overall with 1,328% revenue growth and is followed by online HR solution provider Workstream Inc. (placed 15, 1,174% growth) and software developer Espial Group Inc. (ranked 34, 281% growth). All three companies are making their third consecutive appearances on the Fast 50 ranking, demonstrating impressive ability to sustain growth over long periods. Bridgewater Systems, which provides software solutions for wireless, wireline and converged network service providers, ranked 40 with 240% revenue growth in its debut showing on the Fast 50 ranking.

Other Fast 50 Key Findings:

R&D Investments increased: Over the past year, the average R&D investment of Fast 50 recipients almost doubled to $9.2 million per company, up from $5.3 million the previous year.

Fastest of the Fast: St. John's-based Rutter Inc., which develops voyage data recorders and marine-certified electronic interface technologies made history this year as the first Fast 50 company to own the top rank with the highest revenue growth (29,630%) for two years in a row. Following Rutter are Toronto-based Workbrain, Inc. (2nd place) and Vancouver-based Cardiome Pharma Corp. (ranked third) with 11,768.48% and 11,531.28% five year revenue growth rates respectively.

Regional Breakdown: Ontario continues to be the largest tech hub with 19 recipients on the Fast 50, followed by British Columbia which fielded 12 companies, Alberta with 10 and the province of Quebec with seven finalists. Manitoba and Newfoundland made the ranking with one winner each. The regional breakdown reflects the important role of Canada's tech clusters in supporting the establishment and growth of tech companies. In each region the presence of national and multi-national companies, as well as leading research and academic centres in these provinces acts as an incubator that attracts and nourishes tech companies.

Repeat Winners: Fifty-two per cent of this year's winners have been recognized on the Deloitte Technology Fast 50 rank for two consecutive years or more with 32% boasting multiple appearances - proving their ability to sustain growth over longer periods. Most noticeable are Waterloo-based Research In Motion Limited, the only company that has appeared on the Fast 50 in each of the eight years since the program's inception, and Vancouver-based ID Biomedical Corp. that has ranked on the Fast 50 for five years in a row.

About Deloitte

Deloitte, Canada's leading professional services firm, provides audit, tax, financial advisory services and consulting through more than 6,100 people in more than 47 offices. Deloitte & Touche LLP operates in Quebec as Samson Belair/Deloitte & Touche s.e.n.c.r.l. The firm is dedicated to helping its clients and its people excel. Deloitte is the only professional services firm to be named to the Globe and Mail's Report on Business Magazine annual ranking of Canada's top employers for two consecutive years: 35 Best Companies to Work for in Canada in 2001 and 50 Best Companies to Work for in Canada in 2002. "Deloitte" refers to Deloitte & Touche LLP and affiliated entities. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, 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 name "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names. The services described herein are provided by the Canadian member firm and not by the Deloitte Touche Tohmatsu Verein.

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