Cross Match Technologies Named Number 5 on 2003 Inc. 500 List of Fastest Growing Companies; Live Scan Fingerprint Solutions Innovator Recognized for Five-Year Growth of 11,517 Percent.Business Editors/High-Tech Writers PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Oct. 1, 2003 Cross Match Technologies, Inc., a leading global provider of forensic-quality fingerprint and palm print biometric solutions, has been named the fifth fastest growing private company in 2002 according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Inc. Magazine. The Inc. 500 ranks privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. according to sales growth over the past five years. Based on yearly revenues for the past five years, Cross Match grew at an impressive 11,517 percent. In 1998, the Company reported revenue of $211,305, as its revolutionary digital fingerprinting products first hit the market. In 2002, total net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were $24,547,184 as demand for the Company's innovative suite of high quality palm and fingerprint biometric solutions was fueled by a myriad of security concerns. "This national recognition of our tremendous rate of growth reflects directly on the hard work and dedication of our people," said Theodore "Ted" Johnson, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cross Match. "Cross Match began with a vision to bring innovation to the fingerprint biometric market, providing customers higher quality, user friendly and lower cost solutions. We have built a culture where we continuously strive to exceed our customer's expectations, which has led to a suite of products we believe are unrivaled in the industry. Moreover, unlike many technology-oriented companies in the early years of start-up operation, our business model and practices have enabled Cross Match to measure success in terms of revenue growth and profitability." Cross Match has a full line of proprietary hardware and software systems that provide Federal Bureau of Investigation Federal Bureau of Investigation (FBI), division of the U.S. Dept. of Justice charged with investigating all violations of federal laws except those assigned to some other federal agency. standard compliant, also known as forensic quality, live scan fingerprint solutions for a full range of security applications. Live scan technology replaces traditional ink-on-paper fingerprints by electronically scanning the prints of a person's ten fingers or palm. The live scan system then allows the digitally formatted prints to be rapidly transmitted via communication links to a law enforcement database for rapid background checking. Typical applications include checking for criminal history, identification verification for access to a secure facility or a computer network, or creating a fingerprint database for national security or child protection purposes. The company has developed a reputation for the highest quality products in the industry as demonstrated by its growth and contract awards from some of the most highly respected organizations in government, commercial and international markets. Cross Match systems are currently being used by a full range of federal and state law enforcement, governmental and security agencies. These include the FBI, Secret Service, Drug Enforcement Administration The Drug Enforcement Administration (DEA) was established in 1973 by President richard m. nixon as part of the Justice Department, thus uniting a number of federal drug agencies that had often worked at cross-purposes. , U.S. Army, U.S. Bureau of Prisons, the Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States , the U.S. Marshals Service The U.S. Marshals Service, a division of the Justice Department, is the oldest federal law enforcement agency, having served as a link between the executive and judicial branches of the government since 1789. The president appoints U.S. marshals for terms of four years. , the Florida Department of Law Enforcement, a variety of public school systems, all 14 seaports in Florida, 70 airports, and 70 of the nation's 103 nuclear power plants. For the financial sector, Cross Match products are being used by a growing number of banks and financial institutions, including Bank One, Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. , First Tennessee National, the Trust Company of New Jersey, Cross Country Bank and Merrill Lynch. Other businesses using Cross Match systems include Sun Microsystems, Federal Express, and Wackenhut. To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2002, have had at least $200,000 in sales in the base year of 1998, and their 2002 sales had to exceed 2001 sales. Inc. verifies all information using tax forms and financial statements from certified public accountants Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. and by conducting interviews with company officials. About Cross Match Technologies Since its founding in 1996, Cross Match Technologies, Inc. has been at the forefront of applying forensic quality fingerprint imaging technology towards the development of cost-effective biometric security solutions for law enforcement, federal, aviation, commercial and international organizations. Headquartered in Palm Beach Gardens, Florida Palm Beach Gardens is a city in Palm Beach County in the U.S. state of Florida. The city is in the center of a rapidly-developing area north of West Palm Beach in the northern part of the county and the South Florida metropolitan area. , and offering the broadest product lines in the industry, Cross Match is recognized for setting new standards in fingerprint imaging components through its more than 70 existing or pending patents and related intellectual properties. Additional information on Cross Match is available at http://www.crossmatch Crossmatch A laboratory test done to confirm that blood from a donor and blood from the recipient are compatible. Mentioned in: Blood Typing and Crossmatching, Heart Transplantation crossmatch .com. |
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