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Pacific Biometrics, Inc. Named One of Washington's Fastest Growing Technology Companies in Deloitte & Touche Technology Fast 50 Program Attributes Good Science and Strong Clients to Its 75% Revenue Growth
Sep-23-03
Pacific Biometrics (OTCBB:PBME) has been named to Deloitte & Touche's prestigious Technology Fast 50 Program for Washington, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nations leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years — from 1998-2002.
Pacific Biometrics' CEO, Ron Helm credits talented employees and world class science with the companies 77% revenue growth from 1998-2002. He said, "As a specialty central laboratory serving the pharmaceutical and biotechnology industry we are very fortunate to be well positioned in a significant and growing market."
To qualify for the Washington State Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1998 and $1,000,000 in 2002, must be public or private companies headquartered in Washington State, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte & Touche Fast 50 of Fast 500 programs visithttp://www.fast500.com .
About Pacific Biometrics
Pacific Biometrics provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The company provides expert services in the areas or cardiovascular disease, osteoporosis, diabetes and nutrition. Its lab is an accredited CAP (College of American Pathologists) laboratory recognized as a world leader in lipid standardization and research. The company's clientele includes many of the world's largest multi-national pharmaceutical, biotechnology and diagnostic companies. In addition Pacific Biometrics, researches and develops products for the detection and management of chronic diseases. Visit the company's web site at http://www.pacbio.com .
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting services through nearly 30,000 people in more than 80 U.S. cities. The firm is dedicated to helping its clients and its people excel. Known as an employer of choice for innovative human resources programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work For in America" by Fortune Magazine for six consecutive years. Deloitte & Touche refers to Deloitte & Touche LLP and related entities Deloitte & Touche is the US national practice of Deloitte & Touche Tohmatsu. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity. For more information, please visit Deloitte & Touche's web site at http://www.deloitte.com/us .
Certain statements contained in this news release are forward-looking statements that involve risks and uncertainties. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results and outcomes may differ materially from those discussed or anticipated. Factors that might affect the actual outcome include, but are not limited to, our problems of operating with a history of losses and an accumulated deficit, our potential liquidity problems since historically we have not been able to generate positive cash flow, our requirement for additional capital and the likelihood that it may not be secured, our difficulties of competing in the biotechnology industry which is subject to rapid changes, our potential difficulties of protecting our patents and other proprietary rights and potential intellectual property claims against us, general competition and technological changes, the possible cancellation of our existing or future contracts, our future growth prospects, and changes in our management. For a more detailed discussion of risk factors, see the company's most recent documents filed with the Securities and Exchange Commission.