Eltek Valere Earns Top 10 Ranking in Deloitte's Technology Fast 50 Program for Texas.Innovative Technology and Devotion to Customer Service Drive Company's 4690% Revenue Growth and No. 8 Ranking RICHARDSON, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. -- Eltek Valere today announced it is ranked 8th in Deloitte's Technology Fast 50 Program for Texas, a ranking of the 50 fastest growing technology, media, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , and life sciences companies in the state by percentage revenue growth over five years. The award was based on sales growth of Valere Power, a Richardson-based telecommunications power system company. In June 2007, Valere was acquired by Eltek Energy and together the company is second in the market for power systems for industrial and telecommunications applications, with more than $500 million in revenue and 1,300 employees worldwide. "As Valere Power, our rapid growth was thanks to our innovative technology design - which leads the industry in highly efficient power conversion - as well as the attention of our people to the needs of customers," said Andy Marsh, Eltek Valere president 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. . "The Eltek team also has this drive to succeed which gives us a corporate culture that is unified on serving customers and on growth. I thank the Deloitte team for this honor." "To rank on Deloitte's Technology Fast 50, companies must have phenomenal revenue growth over five years," said Skip Moore, managing partner of technology, media & telecommunications for Deloitte & Touche LLP LLP - Lower Layer Protocol . "Eltek Valere has proven to be one of the fast-growth success stories in Texas, and we applaud their dedication to making their vision a reality." Eltek Valere's increase in revenues of 4690% from $1.8 million in 2002 to $88.1 million in 2006 resulted in an 8th place ranking in the Technology Fast 50 for Texas. Rankings are based on the percentage revenue growth over five years from 2002-2006. This year's Texas Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP, CresaPartners, Gardere Wynne Sewell LLP, HumCap, NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on and America's 401(k). Eltek Valere qualified for the Technology Fast 50 by being a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. company with operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. of more than $50,000 in 2002 and $5,000,000 in 2006 and owning a proprietary technology that contributes to a significant portion of the company's operating revenues. Companies that use others' technology or intellectual property in a unique way do not qualify. Companies from the 16 regional Technology Fast 50 programs in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications, and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Deloitte & Touche (also referred to as Deloitte Touche Tohmatsu, and branded as Deloitte.) is the second largest professional services firm in the world, and one of the Big Four auditors, along with PricewaterhouseCoopers, Ernst & Young and KPMG. , a Swiss Verein A Swiss Verein ("Verein" is German for "Union") is a legal structure in Swiss law. It is similar to the Anglo-American voluntary association. Unlike Germany, a Swiss Verein does not need to be registered in order to have a separate legal personality. Most Swiss NGOs resp. , its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. 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About Eltek Valere Eltek Valere, headquartered in Richardson, TX, is a $500 million provider of DC power systems to telecommunications and industrial markets worldwide formed from the June 2007 merger of Eltek Energy and Valere Power. The company has more than 1,300 employees with offices in 25 countries and sales to more than 100 countries. More information is available at www.eltekvalere.com. |
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