Deloitte Names Abraxis BioScience Inc. Fastest Growing Technology Company in Los Angeles Area

Los Angeles Area Companies Comprise Five Percent of Deloitte's 2008 Technology Fast 500 


LOS ANGELES, Nov. 12  /PRNewswire/ -- Abraxis BioScience Inc. is the fastest growing technology company in the Los Angeles area, according to Deloitte's Technology Fast 500, a ranking of technology, media, telecommunications and life sciences companies based on percentage fiscal year revenue growth over five years (2003-2007). In its first appearance on the list, Abraxis BioScience ranked number four on the Fast 500.

"We congratulate Abraxis BioScience for not only securing a place on this year's Technology Fast 500 ranking, but for making its debut among the top five winners, which is a tremendous accomplishment," said Tony Buzzelli, vice chairman and regional managing partner, Deloitte.

Abraxis BioScience (NASDAQ:ABBI), a Los Angeles-based biotechnology/pharmaceutical company, reported revenues of $333,686,000 in 2007, a leap of 77,682 percent from 2003 revenues of $429,000. It is one of 27 Los Angeles area-based companies to make this year's Technology Fast 500 and the only local company to be listed within the top 10.

"Prior to making this year's Fast 500 list, Abraxis BioScience was recognized in 2007 and 2006 as a Deloitte Technology Fast 50 winner in Los Angeles based on its exceptional growth," said Kris Kaufmann, Technology, Media & Telecommunications partner, Deloitte & Touche LLP.  "The company has demonstrated a commitment to delivering on the promise of market longevity in a very competitive technology environment."

Los Angeles Companies Grew an Average 4,207 Percent

Fast 500 companies in the Los Angeles area grew an average of 4,207 percent, compared with the national average of 3,043 percent. Growth percentages for the 2008 Technology Fast 500 companies ranged from 242 percent to 138,762 percent. The top five companies' average growth rate was 90,540 percent.

California retains its title as home to the greatest number of Technology Fast 500 companies in the nation, with 168 companies (34 percent) based here, up from 123 companies in 2007. Of the 27 Los Angeles area companies on this year's Technology Fast 500, 44 percent are repeat winners.

Los Angeles Fast 500 winners make up approximately five percent of this year's Fast 500. Seven local Internet companies ranked among the Fast 500, making it the dominant category followed by software, which was represented by six companies. The remaining companies are from the following industries: scientific/technical instrumentation, communications/networking, media/entertainment, and medical equipment. One Los Angeles biotechnology/pharmaceutical company made the Fast 500: Abraxis BioScience.

  The Los Angeles companies ranked on this year's Technology Fast 500 are:



      Ranking    Company Name              5-Year Growth %   City

           4  Abraxis BioScience Inc.         7,7682.3     Los Angeles
          31  Hydra LLC                        9,746.4     Beverly Hills
          39  InTouch Health                   8,041.7     Goleta
          69  Vantage Media LLC                3,610.2     El Segundo
         107  Ignify Inc.                      1,983.2     Cerritos
         110  Oversee.net                      1,898.4     Los Angeles
         188  Reunion.com Inc.                   971.3     Los Angeles
         207  LoanToolbox                        882.1     Westlake Village
         216  Occam Networks Inc.                841.5     Santa Barbara
         233  The Design People Inc.             782.6     Marina del Rey
         252  Kelton Research LLC                689.9     Culver City
         266  Capstone Turbine Corporation       655.5     Chatsworth
         279  eHarmony.com                       613.4     Pasadena
         282  ValueClick Inc.                    597.8     Westlake Village
         310  Submit Express Inc                 486.0     Burbank
         314  Exaktime Inc.                      472.4     Calabasas
         342  U.S. Auto Parts Network Inc.       408.4     Carson
         370  PeopleSupport Inc.                 368.6     Los Angeles
         373  Preludesys                         365.7     Diamond Bar
         379  CaseStack Inc.                     360.8     Santa Monica
         380  Awareness Technologies Inc.        360.6     Los Angeles
         395  Guidance Software Inc.             345.6     Pasadena
         427  DataDirect Networks Inc.           308.0     Chatsworth
         431  Cornerstone OnDemand Inc.          303.5     Santa Monica
         452  LiveOffice Corporation             284.0     Torrance
         456  AeroVironment Inc.                 279.2     Monrovia
         483  Topaz Systems Inc                  253.3     Simi Valley


  Number 1 Fast 500 Company Hughes Communications Inc. Grew 138,762 Percent



Hughes Communications Inc. (NASDAQ:HUGH) was named the fastest growing company in North America, topping the 2008 Deloitte Technology Fast 500. Hughes Communications had a revenue growth rate over five years of 138,762 percent, moving from revenues of $699,000 in 2003 to $970,648,000 in 2007.  Based in Germantown, MD, Hughes Communications is a publicly held provider of broadband networks and services. This is its first appearance on the Fast 500 ranking.

The Top Five

In addition to number 1-ranked Hughes Communications Inc. and number 4-ranked Abraxis BioScience, the top five Fast 500 companies include:

  --  Number 2 -- Ticket Software LLC, a Vernon, CT.-based privately held
      software company, came in second on the 2008 Fast 500 listing. Ticket
      Software, a company that provides software solutions for the ticket
      industry, reported revenues of $83,760,000 in 2007, a leap of 111,580
      percent from 2003 revenues of $75,000. This is its first appearance on
      the Fast 500 ranking.

  --  Number 3 -- Starent Networks Corp. (NASDAQ:STAR), a publicly held
      communications/networking company based in Tewksbury, MA., came in
      third on the 2008 Fast 500 listing. Starent Networks, which provides
      networking solutions for mobile operators to provide multimedia
      services to their customers, reported revenues of $145,797,000 in
      2007, a leap of 80,008 percent from 2003 revenues of $182,000. This is
      its first appearance on the Fast 500 ranking.

  --  Number 5 -- Pure Digital Technologies Inc., a San Francisco-based
      privately held computers/peripherals company, came in fifth on the
      2008 Fast 500 listing. Pure Digital Technologies, which develops
      digital imaging solutions, reported revenues of $54,616,000 in 2007,
      an increase of 44,667 percent from 2003 revenues of $122,000. This is
      its first appearance on the Fast 500 ranking.

  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.  To be considered, Fast 500 and Fast 50 entrants must have met the following criteria:

  --  Must own proprietary intellectual property or proprietary technology
      that contributes to a significant portion of the company's operating
      revenues or devotes 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 are required to submit tax returns or audited
      financial statements with their submitted nominations to complete
      their eligibility.

  --  Be in business a minimum of five years.

  --  Must be headquartered within North America. Subsidiaries or divisions
      are not eligible, unless they have some public ownership and are
      separately traded.



Deloitte selects 10 fast growing young companies as "Rising Stars." Instead of having to be in business five years like Fast 500 companies, to qualify as a Rising Star, entrants must have been in business a minimum of three years, but less than five years. Rankings are based on companies' percentage fiscal year revenue growth over three years (2005-2007). Other qualifications are the same.

About Deloitte

As used in this document, "Deloitte" means Deloitte LLP.  Please see http://www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. 

DATASOURCE: Deloitte



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