WASHINGTON, Sept. 29 -NexTone Communications tops the list of the fastest growing 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, media, telecommunications and life sciences 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; own proprietary technology or proprietary intellectual property 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 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 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 15%
A special category called "Rising Stars" recognizes fast growing young companies that have been in business three or four years. Revenue growth is based 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/.
