APS Technology, Inc. Ranked One of the Fastest-growing Technology Companies in North America on Deloitte's 2009 Technology Fast 500™
Connecticut Company Creates the World's Most Advanced and Reliable Electromechanical, Instrumentation, Sensor and Software Products for Oilfield Customers
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Wallingford, CT – Oct. 28, 2009 – APS Technology, Inc. today announced that it ranked number 374 on Technology Fast 500™, Deloitte LLP's ranking of 500 of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five-year period from 2004-2008. APS Technology grew 341% percent during this period.
Bill Turner, president of APS Technology, attributes the success of the company to "reliability, customer support and ease-of-use. APS Technology is one of the few 'traditional' engineering and manufacturing companies in the Fast 500. We're delighted to receive this award again."
"Technology Fast 500™ recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate APS Technology on this accomplishment."
"With its impressive five-year growth, APS Technology has earned its position among the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor APS for its achievement."
APS Technology, Inc. specializes in the design, development and manufacture of electromechanical, instrumentation, sensor, and software designs for the oilfield and other harsh environments. APS has deep engineering expertise in oilfield drilling and sensor equipment, shock and vibration isolation designs, and stress analysis for static and rotating conditions. APS's customers include all of the major integrated multinational oilfield service companies, independent directional drilling companies, MWD service companies and oilfield companies engaged in non-drilling related services. APS also provides engineering analysis, product development services, and proprietary products to customers worldwide.
APS previously ranked 483 as a Technology Fast 500™ award winner for 2005. The company was also recently recognized as one of Connecticut's fastest-growing technology companies in the Connecticut Technology Council's UHY LLP Tech Top 40.
Technology Fast 500™ provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500™ website, and public company database research conducted by Deloitte. Technology Fast 500™ award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues. Technology Fast 500™ award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CAD, and current-year operating revenues of at least $5 million USD or CAD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About APS Technology
APS Technology, Inc. specializes in the design, development and manufacture of electromechanical, instrumentation, sensor, and software designs for the oilfield and other harsh environments. APS has deep engineering expertise in oilfield drilling and sensor equipment, shock and vibration isolation designs, and stress analysis for static and rotating conditions. APS's customers include all of the major integrated multinational oilfield service companies, independent directional drilling companies, MWD service companies and oilfield companies engaged in non-drilling related services. APS also provides engineering analysis, product development services, and proprietary products to customers worldwide.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
For more information please contact:
Brian Stroehlein
Marketing Director
APS Technology, Inc.
7 Laser Lane Wallingford, CT 06492
Tel: 860.613.4450 ext. 121
E-mail: bstroehlein{at}aps-tech.com
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