Delphax Ranks Among Minnesota Fastest Growing Companies
Press release from the issuing company
MINNEAPOLIS, Sept. 19 -- Delphax Technologies Inc. is proud to announce it ranks 45th among Minnesota's fastest growing technology companies, according to the Deloitte & Touche Technology Fast 50 program. The Fast 50 program rankings are based on the percentage of growth in revenues from 1998 to 2002.
Delphax Technologies Inc. has achieved 121 percent revenue growth over the past five years -- from $23.7 million in fiscal 1998 to $52.4 million in fiscal 2002. Jay Herman, chairman and chief executive officer of Delphax Technologies Inc., credits the company's innovative technology, exceptional customer service, worldwide presence, and value proposition of its product offerings for the company's continued success.
"We are pleased to be recognized for the significant revenue growth we have achieved over the last several years," said Herman. "Considering the economic environment our industry has been dealing with during this time, we have made considerable progress in implementing our strategy of developing our patented digital imaging technology to create superior high-performance printing solutions that will enable our customers to achieve global market leadership positions."
"In today's economy, double- or triple-digit percentage growth is an exceptional accomplishment," said Ron Hafner, Deloitte & Touche partner. "We commend Delphax Technologies Inc. for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor Delphax Technologies Inc. as a Deloitte & Touche Technology Fast 50 winner."
To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1 million in 2002; must be public or private companies headquartered in Minnesota; and must be "technology companies" defined as companies that own proprietary technology, manufacture a technology product, or devote a high percentage of effort to the research and development of technology.
For more information on the Deloitte & Touche Fast 50 or Fast 500 programs, visit www.fast50.com .
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