| FOR IMMEDIATE RELEASE:
Innova Electronics, LP Named One of Texas's Fastest Growing Technology Companies in Deloitte Texas Crescent Technology Fast 50 Program
Attributes customer and employee dedication to its revenue growth.
Houston, TX, September 8, 2004 — Innova Electronics has been named to Deloitte's prestigious Technology Fast 50 Program for Texas, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999–2003.
Trey Cook, Innova's Managing Partner credits a close working relationship with customers and a strong team of employees focused on customer success for the company's revenue growth. He said, "By not only looking at our customers' current manufacturing requirements, but by also investing heavily in next generation manufacturing processes and equipment, we have been able to position ourselves as a leading solution provider to our core markets. These investments have also paid off by attracting leading edge customers in non traditional markets which are adding fuel to our future growth plans."
Innnova's increase in revenues of 212 percent from 1999 to 2003 resulted in a 46th ranking in the Fast 50 for Texas. The average increase in revenues among companies who made the Fast 50 for this region was 1,124 percent.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a “technology company” defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 19 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Fast 50 or Fast 500 programs, visit www.fast500.com .
This year's Texas Crescent Technology Fast 50 program is presented by Deloitte & Touche USA LLP, one of the nation's leading professional services firms, and its Fast 50 sponsors Haynes & Boone , NASDAQ and Comerica Bank.
About Innova: Innova Electronics, LP is a leading Houston based contract manufacturer specializing in advanced electronics fabrication and system integration. In operation since 1989, Innova has products at work for commercial, petrochemical, and rugged applications around the world. Visit our web site at http://www.innovaelec.com . |