WALTHAM, Mass., Sept. 14 /PRNewswire/—Litle & Co., LLC tops the list of the fastest growing companies in New England as recognized by Deloitte & Touche USA LLP at an award event held September 13 at The Newton Marriott Hotel Pavilion. The New England Technology Fast 50, an annual award program, ranks technology, media, telecommunications and life sciences companies located in New England by revenue growth over five years.
Using state-of-the-art technology, Lowell, Massachusetts-based Litle & Co. offers the newest generation of payment processing systems. They scored a remarkable 33,683% revenue growth over the five years 2001-2006.
"To rank on Deloitte's Technology Fast 50, companies must have phenomenal revenue growth over five years," said Steve DiPietro, Partner with Deloitte & Touche LLP, in Boston. "Litle & Co. has proven to be one of the fast-growth success stories in New England, and we applaud their dedication to making their vision a reality."
This year's Fast 50 marks the Program's 10th anniversary -- a period that corresponds to the Tech Bubble, Bust and Recovery. Several companies on this year's list are notable for their stellar repeat performances. They include Unica with seven consecutive appearances, and eCopy, iBasis and Network Engines each with six. Two companies last listed on the 2000 Fast 50 earned "Come-back Company" honors: InteQ at #36 and Eze Castle Software at #43.
The New England Technology Fast 50 companies scored a median gain of 577%, and their revenue growth ranges from 33,683% to 250% over the five years from 2001 to 2005.
To be considered, Technology Fast 50 entrants must have operating revenues of at least $50,000 in 2001 and at least $5,000,000 in 2005; be headquartered in Massachusetts, New Hampshire, Rhode Island, Vermont or Maine; own proprietary technology or proprietary intellectual property that contributes to a significant portion of its operating revenues, or devote 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. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded.
The Deloitte New England Technology Fast 50 company ranking is as follows:
Litle & Co.
Arbor Networks, Inc.
Idenix Pharmaceuticals Cambridge
Data Intensity, Inc.
Evergreen Solar, Inc.
Coley Pharmaceutical Group
CardioTech International, Inc.
Inverness Medical Innovations, Inc.
Cubist Pharmaceuticals, Inc.
Click Tactics, Inc.
Network Engines, Inc.
Smarter Living, Inc.
ITA Software, Inc.
BridgeLine Software, Inc.
Deploy Solutions, Inc.
Outcome Sciences, Inc.
Palomar Medical Technologies, Inc.
Clinical Data, Inc.
Eze Castle Software
Nucryst Pharmaceuticals Corp.
Nuance Communications, Inc.
Bentley Pharmaceuticals, Inc.
IPG Photonics Corporation
A special category called "Rising Star" recognizes the fastest growing technology, media, telecommunications and life sciences company based on revenue growth over three years (2003-2005). This year Sepaton, Inc. of Marlboro, MA, earned Rising Star status with a three-year average revenue growth of 2,418%.
"These 2006 New England Fast 50 companies compete with technology and life sciences companies across the nation and even across the globe. They are among the elite and we congratulate them for their accomplishments and continued growth," said William F. Lee, co-managing partner of WilmerHale.
The Technology Fast 50 program is presented by Deloitte & Touche USA LLP with WilmerHale, and is co-sponsored by Comerica Bank, William Gallagher Associates and Mass High Tech.
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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.
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