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Flow International Corporation Ranked Number 40 in Deloitte's Technology Fast 50 Program for (FLOW)
SEATTLE, Wash. ? Sept. 30, 2008? Flow International Corporation (NASDAQ: FLOW), the world’s leading developer and manufacturer of ultrahigh-pressure (UHP) waterjet technology, has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2003?2007.
Flow's CEO Charley Brown credits increasing acceptance of ultrahigh-pressure waterjet cutting technology, demand for waterjet cutting of composites in the aerospace industry, and Flow’s leadership and technological expertise in bringing 87,000 psi waterjet cutting to market with the company's 78 percent revenue growth from 2003?2007. Flow’s revenue increase resulted in its ranking in the Technology Fast 50 for Washington State.
“We are pleased to be recognized by Deloitte for our hard work and resulting growth of waterjet cutting technology,” said Brown. “Our growth over the past four years is testament to Flow’s leadership position in the marketplace.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies.
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