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SBS Technologies, Inc. (Nasdaq: SBSE), a leading designer of embedded computers and systems for the telecommunications, medical and defense electronics, and commercial industrial markets, today announced that it was named a Deloitte and Touche prestigious Technology "Fast 500" winner, a ranking of the 500 fastest growing U.S. technology companies, and to the 1999 list of the "200 Best Small Companies in America" by Forbes magazine.
Rankings in the Deloitte & Touche Fast 500 are based on a five-year percentage revenue growth from 1994 to 1998. SBS Technologies¹ increase in revenues of 628% over the five-year period resulted in a 442 ranking overall in the Technology Fast 500. According to Deloitte & Touche, Fast 500 companies must be headquartered in the United States and be "technology companies." According to the Fast 500 Program, technology companies produce technology, manufacture a technology product, are technologically intensive, use technology in problem solving, or devote a high percentage of effort to research and development of technology.
Additionally, SBS was listed as 67 among the "200 Best Small Companies in America" according to the November 1, 1999 issue of Forbes magazine. SBS Technologies was ranked 65 in 1998 and 70 in 1997 on this same list. According to Forbes, every company on the list passed rigorous financial tests, based on a composite score that measures growth and profitability over the past five years and the latest 12 months. Although technology companies dominated the list, the 200 Best contains a cross section of America¹s service and manufacturing economy, each with a minimum of a five-year average annual growth in earnings of 10%.
"We are honored to be recognized as a market and business leader among such distinguished companies as Cisco Systems, QUALCOMM, and 3Com Corporation," said Christopher J. Amenson, Chairman and CEO of SBS Technologies, Inc. "I credit our committed team of employees for the company¹s 628% percent revenue growth over the past five years. We continue to set aggressive goals and have dedicated our efforts to building the value of this company. The interests of every employee are aligned with our shareholders through our stock options programs," Amenson continued.
"To attain a listing on the Fast 500 is no easy feat, and we at Deloitte & Touche congratulate SBS Technologies, Inc. for attaining this honor," said Mark Evans, Managing Director, Deloitte & Touche High Technology Industry Group. "Today, there are more than 22,000 high technology companies in the United States, many of whom are competing for the same markets here in the states and worldwide. The Fast 500 winners have proven that they can compete successfully by consistently delivering technological wonders. We commend SBS Technologies for having the vision and determination to become one of the fastest growing technology companies in the U.S."
For more information on the Deloitte & Touche Technology Fast 500 Program, visit www.fast500.com
SBS Technologies, Inc. is a leading manufacturer of standard bus embedded computer components used in a variety of applications, such as communications, medical imaging, industrial control and flight instrumentation, in commercial and aerospace markets. SBS product lines include processor boards, input/output (I/O) modules and complete computing systems. Additional information about SBS Technologies and its products is available through the company's web site at http://www.sbs.com.
This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results or outcomes to differ materially from those anticipated. These forward looking statements should be considered in light of the risk factors listed in the Company's Annual Report on Form 10-K for the year ending June 30, 1999 filed with the Securities and Exchange Commission.