Fonix Ranked No. 105 Fastest Growing Technology Company in North America on the 2005 Deloitte Technology Fast 500
MONDAY, OCTOBER 24, 2005 9:00 AM
- BusinessWire
SALT LAKE CITY, Oct 24, 2005 (BUSINESS WIRE) -- Fonix(R) Corp. (FNIX) , a communications and technology company providing integrated telecommunications services and value-added speech technologies, today announced that it ranked No. 105 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on percentage revenue growth over five years, from 2000-2004. Fonix grew 2,168 percent during this period.
Thomas A. Murdock, Fonix CEO, credits an evolving business strategy to provide businesses and consumers with integrated communications services with the company's 2,168 percent revenue growth over the past five years. He said, "Fonix Corp. continues to seek innovative ways to meet our consumers' communication needs. Fonix Telecom provides industry-leading telecommunications services with next-generation offerings such as VoIP and BPL, while The Fonix Speech Group continues to dominate the speech interface software and technology markets in videogames, electronic dictionaries, devices for assistive needs, and mobile devices with our speech recognition and text-to-speech solutions."
"Achieving sustained revenue growth of 2,168 percent over five years is a tremendous achievement," said Tony Kern, deputy national managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "Fonix Corp.'s phenomenal growth puts it in select company."
Fonix Corp. previously ranked 394 on 2004 Deloitte Technology Fast 500.
Overall, companies that ranked on the 2005 Technology Fast 500 had growth rates ranging from 240 to 73,752 percent over five years, with an average growth rate of 2,408 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2004 operating revenues must be at least $1 million USD or CD.
Entrants must be headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's 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.
About Fonix
Fonix Corp., based in Salt Lake City, is an innovative communications and technology company that provides integrated telecommunications services and value-added speech technologies through Fonix Telecom Inc., LecStar Telecom Inc. and The Fonix Speech Group. The combination of interactive speech technology and integrated telecommunications services allows Fonix to provide customers with comprehensive cost-effective solutions to enhance and expand their communications needs. Visit www.fonix.com for more information, or call 801-553-6600 and say "Sales."
About Deloitte
Deloitte refers to one or more 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 United States, 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.
Statements released by Fonix that are not purely historical are forward looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE: Fonix Corp.
Fonix Corp.
Gino De Jesus, 770-989-9885 (Investors)
gdejesus@fonix.com
or
Elizabeth Sweeten, 801-553-6600
mediainfo@fonix.com
Copyright Business Wire 2005
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