Corinex Ranked 70th Fastest Growing Technology Company in North America
Friday, November 21, 2008
Company Profile
|
Follow Company
Vancouver, BC, November 21, 2008--(T-Net)--Corinex Communications Corp. today announced that it ranked number 70th on Deloitte’s 2008 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2003–2007. Corinex grew 3,597.88 percent during this period.
Corinex’s CEO, Peter Sobotka, credits the international Corinex team and their partners, as well as the growing awareness of Powerline networking with the company’s 3,597.88 percent revenue growth over the past five years. He said, “We are very pleased to be recognized as one of the elite companies on the Deloitte 2008 Technology Fast 500 for North America. This privilege serves not only as recognition for the company and all Corinex employees, but also for the Powerline industry and Canadian business as a whole."
“It’s great to see so many of our Canadian Technology Fast 50 winners included in the North American Fast 500,” stated John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “While helping fuel the growth of the Canadian technology industry and as an outstanding example of Canadian technology leadership, Corinex is more than just a Canadian success story — it is also a North American technology leader.”
In addition to ranking on Deloitte’s Technology Fast 500, Corinex ranked sixth on the Canadian Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in country.
Overall, companies that ranked on the 2008 Technology Fast 500 had growth rates ranging from 242 to 138,762 percent over five years, with an average growth rate of 3,043 percent.
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2003 to 2007.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.
About Corinex Communications Corp.
Corinex AnyWire™ Connectivity solutions distribute high speed IP signals on electrical wiring, coax, and phone lines. Corinex has a Powerline market share of 48% worldwide (In-Stat) and 40% in North America (Frost & Sullivan). Its products are used by tier one service providers including Telefonica and Belgacom to distribute IPTV service throughout the home. Corinex is the recipient of the From & Sullivan “Best Product Line Strategy” award, Utilities Telecom Council’s Best Automated Metering Infrastructure award for Access, finalist for the International Engineering Consortium InfoVision award for Best Access Technology, RetailVision nominee for Best New Product and Best Product: Digital Home (x2) for Corinex In-Home products and others. For media inquiries, contact Lauren Littlefield at Dittoe PR at 317-202-2280 x.17 or laurenl@dittoepr.com.
About the Deloitte Technology Fast 500
The Deloitte Technology Fast 500 is an annual ranking of the 500 fastest-growing technology, media, telecommunications and life sciences companies in North America, based on percentage of revenue growth over five years. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To be considered, entrants must meet the following criteria:
. Own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues, or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
. 2003 revenues must be at least $75,000 (or $50,000 U.S.), and 2007 revenues must be at least $5 million (or $5 million U.S.). Companies are required to submit tax returns or audited financial statements with their submitted nominations to complete their eligibility.
. Must be in business a minimum of five years.
. Must be headquartered within North America. Subsidiaries or divisions are not eligible (unless they have some public ownership and are separately traded).
Deloitte selects 10 fast growing young companies as “Rising Stars.” To qualify, companies must have been in business a minimum of three years, but less than five years. Rankings are based on companies’ percentage fiscal year revenue growth over three years (2005-2007). Other qualifications are the same.
About the Deloitte Technology Fast 50™
The Deloitte Technology Fast 50™ program is Canada’s pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Deloitte Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15™ Awards (Canada’s leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC Capital Markets, Wellington Financial, Stonewood Group, CATAAlliance and IGLOO. For further information, visit www.fast50.ca
Company Snapshot |
|
Corinex
Vancouver, BC (InfoTech)
20-49 Employees In BC (50-99 Employees Total)
Founded: 1999 | Revenues: $15.00 Million
Enabling decarbonization through self-regulating energy systems
|