SALISBURY, MD, November 17, 2008
/24-7PressRelease/ -- Navtrak, Inc. today announced that it ranked #415 on Deloitte's 2008 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 2003-2007. Navtrak grew 316 percent during this period.
Learn more about Navtrak here:
http://www.navtrak.net/pr/deloitte.cfm?leadID=22&cID=500
Navtrak, Inc.'s CEO, Ron Hodges, credits employee passion and an unwavering focus on fleet productivity solutions with the company's 316% revenue growth over the past five years. He said, "Working for a fast growth company is not for the weak at heart. It's a very dynamic environment and change is the norm. Our employees show a tremendous amount of passion in an often stressful environment. They are continually adapting to change while holding firm to our companies' core values and beliefs."
"Deloitte's Technology Fast 500 recognizes companies who have achieved extraordinary growth in North America's most innovative and competitive market sectors," said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. "We congratulate Navtrak, Inc. on this significant accomplishment."
In addition to ranking on Deloitte's Technology Fast 500, Navtrak, Inc. ranked #19 on the Maryland Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Maryland.
Overall, companies that ranked on the 2008 Technology Fast 500 had growth rates ranging from 242 to 138,762 percent over five years, with an average growth rate of 3,043 percent.
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 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 2003 to 2007.
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.
About Navtrak, Inc.
Navtrak, Inc., located in Salisbury, MD, is an industry leader in providing GPS vehicle tracking systems and fleet productivity solutions for businesses with mobile workforces. Founded in 1999 and serving thousands of customers across the country, Navtrak is committed to Driving Business Productivity with valuable, real-time vehicle tracking, reporting, routing and communication tools that improve efficiency and enhance customer service. For more information, please contact Navtrak at 800-787-2337 or online at
http://www.navtrak.net/pr/deloitte.cfm?leadID=22&cID=500
About Deloitte
"Deloitte" is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu (DTT), a Swiss Verein. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTT helps coordinate the activities of the member firms but does not itself provide services to clients. DTT and the member firms are separate and distinct legal entities, which cannot obligate the other entities. DTT and each DTT member firm are only liable for their own acts or omissions, and not those of each other. Each of the member firms operates under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Each DTT member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in their territories through subsidiaries, affiliates and/or other entities.
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