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Business 2.0 Magazine Unveils 'B2 100' Ranking of the Fastest-Growing Technology Companies for 2004; Comtech Telecom Garners Top Spot

May 13, 2004 at 12:00 AM EDT
Business 2.0 Magazine Unveils 'B2 100' Ranking of the Fastest-Growing Technology Companies for 2004; Comtech Telecom Garners Top Spot

SAN FRANCISCO--(BUSINESS WIRE)--May 13, 2004--Business 2.0 magazine has released its 2004 B2 100 ranking of the fastest-growing technology companies. The complete list is currently available to subscribers online and will be featured in the June 2004 issue of the magazine, on newsstands May 24.

The following are the top 10 companies to merit a spot in the 2004 B2 100:

  1. Comtech Telecom (CMTL), Melville, NY - military electronics contractor
  2. Genentech (DNA), South San Francisco, CA - biomedical firm specializing in cancer therapy
  3. Silicon Laboratories (SLAB), Austin, TX - semiconductor engineering group
  4. eBay (EBAY), San Jose, CA - online auction house
  5. Electronic Arts (ERTS), Redwood City, CA - videogame producer
  6. Ceradyne (CRDN), Costa Mesa, CA - manufacturer of advanced technical ceramics for the military
  7. Electronics Boutique (ELBO), West Chester, PA - videogame retailer
  8. Websense (WBSN), San Diego, CA - provider of employee Internet monitoring products
  9. Cognizant Technology Solutions (CTSH), Teaneck, NJ - IT-services consultancy
  10. SS&C Technologies (SSNC), Windsor, CT - business software developer

This year more than half of the companies -- including five of the top 10 -- were not on the list in 2003. Business services, which includes outsourcing, is the largest single category of companies to make the list, accounting for 25 percent of the total. Electronics and software follow close behind with 21 percent and 20 percent shares, respectively.

"Over the past year we've started to see an economic recovery. But no matter the rebound, it still requires innovative ideas, strong management skills and tight execution -- not to mention luck -- to grow rapidly in today's technology sector. With an eye towards helping our readers achieve the same, we offer this year's collection of B2 100 companies as a primer on shifting trends and inventive strategies," said Josh Quittner, editor of Business 2.0.

As with the magazine's 2003 list, California claims the most companies on the 2004 list, with 33. The remainder of the U.S. regional breakdown is as follows: Massachusetts, 8; Pennsylvania, 6; Texas, Missouri, New York and Maryland, 4 each; Colorado, Kentucky, Michigan, Connecticut and Georgia, 3 each; Kansas, Ohio, Virginia and New Jersey, 2 each; Oregon, Arizona, South Dakota, Minnesota, Illinois, Florida, South Carolina and New Hampshire, 1 each.

Five international companies made the list, with one citation each for Canada, France, India, Israel and the Netherlands.

Companies in the third annual B2 100 cleared a series of demanding financial hurdles. The list of 100 was narrowed down from an initial group of 2,000 publicly traded tech companies. Criteria for making the final list included at least three years of trading on a major U.S. stock exchange, at least $50 million in annual revenue, and positive cash flow during the most recently reported 12 months. Business 2.0 editors then ranked the companies with the help of Zacks Investment Research of Chicago, using a combination of four financial criteria: growth in revenue, profit, and operating cash flow during the past three years, and 12-month stock return. Cash flow growth counted for 40 percent of a company's ranking; each of the other criteria counted for 20 percent.

A copy of the complete list is available upon request.

About Business 2.0

Business 2.0, a magazine about business, technology and innovation, is published out of the FORTUNE Group at Time Inc., a Time Warner company. To learn more, visit www.business2.com.