Deloitte

Deloitte

September 28, 2005 13:35 ET

Three Waterloo-based Companies Among 2005 Deloitte Fast 50-A Ranking of Canada's Fastest Growing Technology Companies

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

-- DALSA Corporation Honoured with the GrowthWorks Leadership Award; RIM the Longest Standing Recipient with Eight Consecutive Appearances on the Fast 50 --

Three Waterloo region-based companies were 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.

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.

DALSA Corporation received the GrowthWorks Leadership award recognizing superior business performance judged against the norms in the Hardware/semiconductor sector. A leading developer of components and semiconductors for the imaging industry, DALSA was given the award for the second year in a row for its consistent and outstanding business performance and profitability that turning the company into a key player in its industry sector. This year, DALSA also made its debut appearance on the Fast 50, ranked 47 with an average five year revenue growth of 216%.

"We are very proud to be listed in this year's Canadian Technology Fast 50 and to receive the GrowthWorks Leadership award," said Dr. Savvas Chamberlain, CEO, DALSA Corporation. "We are firm believers that leadership in technology enables Canadian companies to expand successfully into new markets worldwide, so it's fantastic to be recognized for that."

Other tech-triangle recipients on this year's Fast 50 ranking include Research In Motion Limited (ranked 21 with 513% revenue growth) in its eighth consecutive appearance, making it the longest standing recipient since the program's inception in 1998. RDM Corporation (number 41, 240% growth), which develops solutions for electronic payment processing, is the third tech-triangle Fast 50 recipient.

This can be a lot stronger. This rate of growth compounded over several years is truly remarkable as are the multiple revenue streams that augur well for the future. We diminish them and ourselves by focussing on a 21 ranking.

"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."

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.

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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