ABBI Abraxis Bioscience (MM)

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 CONTACT: Tanya Valenzuela, Public Relations of Deloitte, +1-213-996-5827, Web Site: http://www.deloitte.com/us

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