Cbeyond Ranked Number 22 Fastest Growing Company in North America on Deloitte's 2006 Technology Fast 500
Attributes its 10,956% Percent Revenue Growth to its IP-based Application Integration
ATLANTA, Oct 19, 2006 (BUSINESS WIRE) -- Cbeyond(R), (NASDAQ: CBEY) a managed services provider to small businesses and a leader in Voice over Internet Protocol (VoIP), today announced that it ranked Number 22 on Deloitte's 2006 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 revenue growth over five years, from 2001 to 2005. Cbeyond grew 10,956 percent during this period, from $1.4 million to $159.1 million.
Cbeyond's Chief Executive Officer, Jim Geiger, credits the company's focus on leveraging IP-based application integration to deliver a unique customer experience with the company's 10,956 percent revenue growth over the past five years. He said, "Cbeyond's IP-based network and managed services platform have enabled us to provide an integrated package of voice, broadband Internet and mobile services to more than 23,714 customers in six markets. We believe our rapid growth validates the demand small businesses have for service features typically available only to large enterprises."
"Sophisticated technology is becoming the norm and is in almost everything in the 21st century," said Tony Kern, deputy managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "Cbeyond has developed technology solutions that deliver in today's highly competitive world, and we applaud their efforts, ingenuity and teamwork in becoming one of the fastest growing technology companies in North America."
In addition to ranking on Deloitte's Technology Fast 500, Cbeyond was ranked second of the 50 companies on the Southeast Technology Fast 50, which is a ranking of the fastest growing technology firms in Georgia.
Overall, companies that ranked on the 2006 Technology Fast 500 had growth rates ranging from 209 to 48,948 percent over five years, with an average growth rate of 2,145 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 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 2001 to 2005.
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 US$50,000 or C$75,000, and current-year operating revenues must be at least US$5 million or C$5 million. Companies must be in business a minimum of five years, and they must be headquartered within North America.
About Cbeyond
Cbeyond (NASDAQ: CBEY) is an Atlanta-based managed services provider that delivers integrated packages of voice, mobile and broadband services to small businesses in Atlanta, Chicago, Dallas, Denver, Houston and Los Angeles. Cbeyond offers core communications services such as local and long-distance voice, mobile and broadband Internet access along with enhanced applications, including voicemail, email, Web hosting, fax-to-email, data backup, file-sharing, VPN and more. Cbeyond manages these services over a private, 100-percent Voice over Internet Protocol (VoIP) facilities-based network. For more information on Cbeyond, visit www.cbeyond.net.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of approximately 135,000 people worldwide, Deloitte delivers services in four professional areas--audit, tax, consulting and financial advisory services--and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names.
In the United States, Deloitte & Touche USA LLP is the member firm of Deloitte Touche Tohmatsu, and services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. The subsidiaries of the U.S. member firm are among the nation's leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 40,000 people in more than 90 cities. Known as an employer of choice for innovative human resources programs, it is dedicated to helping their clients and their people excel. For more information, please visit the U.S. member firm's Web site at www.deloitte.com/us.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. Such statements are based upon the current beliefs and expectations of Cbeyond's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that might cause future results to differ include, but are not limited to, the following: the risk that our revenue is unlikely to continue to grow at historical rates, changes in federal or state regulation that affects the Company; the timing of the initiation, progress or cancellation of significant contracts or arrangements; the mix and timing of services sold in a particular period; competitive factors; the need to balance the recruitment and retention of experienced management and personnel with the maintenance of high labor utilization; rapid technological change and the timing and amount of start-up costs incurred in connection with the introduction of new services or the entrance into new markets; the inability to attract sufficient customers in new markets; changes in estimates of taxable income or utilization of deferred tax assets which could significantly affect the Company's effective tax rate; and general economic and business conditions.
SOURCE: Cbeyond, Inc.
Cbeyond Inc., Atlanta Michelle Tank, 678-370-2437 Public Relations michelle.tank@cbeyond.net
Copyright Business Wire 2006
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