Flow Ranked Number 42 in Deloitte's Technology Fast 50 Program for Washington State
FOR IMMEDIATE RELEASE
Contact:
Michael Ruppenthal
Flow International Corporation
253-850-3500
Wider Acceptance of Waterjet Technology, 87,000Â PSI Cutting Lead to 75% Revenue Growth
SEATTLE, Wash. — Sept. 28, 2007— Flow International Corporation (NASDAQ: FLOW), the world’s leading developer and manufacturer of ultrahigh-pressure (UHP) waterjet technology, has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2002–2006.
Flow's CEO Charley Brown credits increasing acceptance of ultrahigh-pressure waterjet cutting technology, demand for waterjet cutting of composites in the aerospace industry, and Flow’s leadership and technological expertise in bringing 87,000 psi waterjet cutting to market with the company's 75 percent revenue growth from 2002–2006. Flow’s revenue increase resulted in its ranking in the Technology Fast 50 for Washington State.
"We are pleased to be recognized by Deloitte for our hard work and resulting growth of waterjet cutting technology," said Brown. "Our growth over the past four years is testament to Flow’s leadership position in the marketplace."
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States 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, visitwww.fast500.com.
This year’s Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie, Citigroup Smith Barney, AH&T Insurance and the Puget Sound Business Journal.
About Flow International
Flow International Corporation is the world's leading developer and manufacturer of ultrahigh-pressure waterjet cutting technology to industries including automotive, aerospace, job shop, surface preparation, and more. For more information, visitwww.flowcorp.com.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, 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. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
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