Attributes the combined effort, knowledge and innovativeness of the sales force, engineering, and manufacturing to its growth.
Newington, CT 10/23/2007 — On Site Gas Systems today announced that it ranked Number 349 on Deloitte’s 2007 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002–2006.
On Site Gas System’s CEO, Guy Hatch, credits the combined effort, knowledge and innovativeness of the sales force, engineering, and manufacturing with the company’s 420% revenue growth over the past five years. He said, “All of our employees are extremely excited about our first national ranking as a top 500 company. We are grateful for being on the Connecticut Fast 50 for 7 straight years and it is an honor to be recognized at the next level."
“To rank on Deloitte’s Technology Fast 500, companies must achieve phenomenal revenue growth over five years,” said Phil Asmundson, vice chairman, U.S. Technology, Media and Telecommunications, Deloitte & Touche USA LLP. "We congratulate On Site Gas Systems on this significant accomplishment."
In addition to ranking on Deloitte’s Technology Fast 500, On Site Gas Systems ranked 11th on the Connecticut Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Connecticut.
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media, telecommunications and life sciences companies in North America. It is compiled from Deloitte’s 16 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. Companies are selected based on percentage revenue growth from 2002 to 2006.
Entrants must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues or devote a significant proportion of revenues to research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Base-year operating revenues must be at least $50,000 USD or $75,000 CD, and current-year operating revenues must be at least $5 million USD or CD. Companies must be in business a minimum of five years, and they must be headquartered within North America.