Timbercon, Inc. Ranks 8th on the Oregon Technology Fast 50 List
Portland OR. – September 12, 2003 – Timbercon has been named to Deloitte & Touche’s Technology Fast 50 Program for Oregon, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation’s leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over three years, from 2000-2002.
CEO Eric Meslow credits Timbercon’s diversified market base and controlled growth with the company’s 96 percent revenue growth from 2000-2002. He said, “By further diversifying our market base, we have been able to sustain a rapid yet very controlled period of growth.”
Timbercon’s increase in revenues of 96 percent from 2000 to 2002 resulted in a 8th ranking overall in the Fast 50 for Oregon. The median increase in revenues among companies who made the Fast 50 for this region was 51 percent.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2002, must be public or private companies headquartered in Oregon, and be a “technology company” defined as owning proprietary technology that contributes to a significant portion of the company’s operating revenues (using other companies’ technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.