Deloitte & Touche unveiled its ‘Fast 50’ rankings amid gloomy economic projections in the wake of last week’s U.S. terrorist attacks.
On Thursday the Toronto-based consulting firm announced the winners for its 2001 Canadian Technology Fast 50. The list of the country’s fastest growing technology companies is compiled annually by the Toronto-based consulting firm.
Toronto-based Stratos Global Corporation topped this year list, surpassing its second place finish last year. The telecommunications company posted a whopping 73,068 per cent growth in revenues from 1996 to 2000.
First time finalists, Ottawa-based Dynex Power and Toronto-based Cryptologic, ranked No. 2 and 3 respectively with 45,574 per cent and 23,779 per cent growth.
In August, when the original Fast 50 nominees were announced, Garry Foster, national technology and communications director at Deloitte & Touche said the list proves that in the midst of economic uncertainty, Canada’s tech sector is experiencing vibrant, nation-wide growth and expansion. Eighteen of this year’s Fast 50 recipients also placed in last year’s rankings.
Rounding out the top 10 are Pivotal Corporation (Vancouver, 14,351 per cent), Knowledge House Inc. (Halifax, 14,258 per cent), InfoInterActive Inc. (Bedford, 9,443 per cent),MedcomSoft Inc. (Toronto, 6,001 per cent), MGI Software (Toronto, 5,819 per cent), Shop 9000 SalesInc.(Toronto, 5,656 per cent) and Bridges.com Inc. (Kelowna, B.C. 5,015 per cent).
Two Nova Scotia firms, Knowledge House (Halifax) and InfoInterActive (Bedford) are on the list for the first time. Alberta’s presence grew from four companies last year to seven this year.
Industry sector representation also shifted in the past year – the communications and networking sector doubled its presence from five to 10 firms, while the Internet sector now has five firms on the list, versus three last year.
The Fast 50 defines an eligible technology company as one that manufactures and derives a ‘significant portion’ of operating revenue from a proprietary, tech-related product. The company also had to be operated, headquartered and controlled in Canada for a least five years and which in 2000 reported revenues totalling $1 million or more.
Companies are rated on a five year revenue growth calculation based on the last fiscal year (December 31, 2000).
Deloitte & Touche is at http:// www.deloitte.ca