Nextone Communications Tops Deloitte's Maryland Technology Fast 50 Ranking Of Fastest-Growing Technology Companies, With 7,901 Percent Growth OVER Five Years

Nextone Communications Tops Deloitte's Maryland Technology Fast 50 Ranking Of Fastest-Growing Technology Companies, With 7,901 Percent Growth OVER Five Years

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WASHINGTON, D.C., September 29, 2006 — NexTone Communications tops the list of the fastest growing technology companies in Maryland as recognized by Deloitte & Touche LLP and Wilmer Cutler Pickering Hale and Dorr LLP at an award event held September 28 at The Sequoia in Georgetown. Called the “Maryland Technology Fast 50,” the annual award program ranks technology companies located in Maryland by revenue growth.

“Deloitte’s Maryland Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Mr. Andy Harrs, Deloitte’s southeast regional managing partner for the Technology, Media and Telecommunications Industry Practice based in McLean, VA. “We applaud the successes of NexTone Communications and acknowledge it as one of the very few to accomplish such an impressive growth rate over the past five years.”

“The success of this year’s ranked companies in Maryland prove technology strength across the state. These Maryland companies compete with companies across the nation and are able to grow at an impressive rate, which demonstrates the economic fitness of the state,” said Mr. William J. Perlstein, co-managing partner of WilmerHale. Congratulations to these companies for this accomplishment and their continued growth.”

Winners are selected based on percentage revenue growth over 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 Maryland; be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of its operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded.

The Technology Fast 50 company ranking is as follows:

 

2006 Rank

Company Name

City

5yr%

1

NexTone Communications

Gaithersburg

7901%

2

Vapotherm

Stevensville

3896%

3

LogicTree Corp.

Bowie

3089%

4

BroadSoft

Gaithersburg

2171%

5

CollabraSpace, Inc.

Annapolis

1988%

6

United Therapeutics Corporation

Silver Spring

1923%

7

SafeNet, Inc.

Belcamp

1351%

8

Martek Biosciences Corp.

Columbia

1058%

9

Ibiquity Digital

Columbia

728%

10

Wealth Engine

Bethesda

606%

11

Cbay Systems

Annapolis

590%

12

SP Systems

Greenbelt

585%

13

Catapult Technology, Ltd.

Bethesda

567%

14

NETCONN Solutions

Hagerstown

554%

15

GenVec, Inc.

Gaithersburg

501%

16

CSI Engineering

Beltsville

497%

17

Paradigm Infotech

Columbia

427%

18

Welocalize, Inc.

Frederick

370%

19

Systems Integration and Development

Rockville

340%

20

International Software Systems

Greenbelt

310%

21

Gryphon

Riverdale

305%

22

Vocus, Inc.

Lanham

253%

23

Digene Corporation

Gaithersburg

237%

24

EntreMed, Inc.

Rockville

218%

25

Advanced Concepts

Columbia

205%

26

CNSI

Rockville

203%

27

Breakaway Ltd.

Hunt Valley

180%

28

Barcoding, Inc.

Baltimore

170%

29

Chesapeake Research and review

Columbia

168%

30

Optelecom Inc

Germantown

157%

31

Ingenium

Upper Marlboro

142%

32

Integral Systems, Inc.

Lanham

141%

33

MetaStorm, Inc.

Baltimore

135%

34

Infinite Computer Solutions

Rockville

129%

35

United Industrial Corp.

Hunt Valley

117%

36

MedImmune, Inc.

Gaithersburg

101%

37

OPNET Technologies, Inc.

Bethesda

95%

38

NMR Consulting

Annapolis

95%

39

Capital Technology Info Services, Inc.

Rockville

89%

40

CoStar Group, Inc.

Bethesda

85%

41

MICROS Systems, Inc.

Columbia

84%

42

Gene Logic Inc.

Gaithersburg

83%

43

QSS Group, Inc.

Lanham

83%

44

Human Genome Sciences

Rockville

49%

45

Savantage Solutions

Rockville

48%

46

TeleCommunication Systems, Inc.

Annapolis

47%

47

Dataprise, Inc.

Rockville

46%

48

Avatech Solutions, Inc.

Owings Mills

24%

49

Spherix Incorporated

Beltsville

16%

50

Worldspace, Inc.

Silver Spring

16%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A special category called “Rising Stars” recognizes the five fastest growing technology companies based on revenue growth over three years (2003–2005).

 

2006 Rank

Company Name

City

3yr%

RS1

I4 Commerce

Timonium

2744%

The Maryland Technology Fast 50 program is hosted by Deloitte & Touche LLP, along with WilmerHale and media sponsors PR Newswire and SmartCEO magazine.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), 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 names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.

Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP.

About Wilmer Cutler Pickering Hale and Dorr LLP
WilmerHale is widely recognized as a leader in advising technology and life sciences companies. More than 70 lawyers hold degrees in scientific or technical fields, including information technology and life sciences. As a result of a longstanding focus on entrepreneurial and technology companies, WilmerHale represents more venture-backed companies in the eastern half of the US than any other law firm. WilmerHale's other premier practices include, antitrust and competition; aviation; bankruptcy; civil and criminal trial and appellate litigation (including white collar defense); communications; corporate (including public offerings, public company counseling, start‑up companies, venture capital, mergers and acquisitions, and licensing); defense and national security; financial institutions; intellectual property counseling and litigation; international arbitration; life sciences; securities regulation, enforcement and litigation; tax; and trade. WilmerHale was formed in May 2004 through the merger of two of the nation's leading law firms, Hale and Dorr LLP and Wilmer Cutler Pickering LLP. With a staunch commitment to public service, the firm is renowned as a national leader in pro bono representation. The firm has more than 1,000 lawyers and offices in Baltimore, Beijing, Berlin, Boston, Brussels, London, Munich, New York, Northern Virginia, Oxford, Palo Alto, Waltham and Washington, DC. For more information, please visit http://www.wilmerhale.com/.