PAR Technology Named to FORTUNE Small Business Magazine's FSB 100 List of Fastest Growing Small Companies in America.
#34 Overall, #22 by EPS Growth and #81 by Revenue Growth
NEW HARTFORD, NY, PAR TECHNOLOGY CORPORATION (NYSE:PTC)
NEW HARTFORD, N.Y.--(BUSINESS WIRE)--June 29, 2005--PAR Technology Corporation (NYSE: PTC - News), a leading provider of proactive hospitality technology solutions, today announced it has been named to FORTUNE Small Business Magazine's fifth annual FSB 100 list of America's fastest growing small companies, ranking #34 out of the 100 companies listed. In addition to being #34 overall, PAR was ranked #22 by earnings-per-share (EPS) growth, and #81 based on revenue growth. The list, which is comprised of public companies, appears in the July/August issue of FORTUNE Small Business, available on newsstands July 4 and at www.fsb.com.
There were only 17 technology companies named to this year's list.
To compile the list, FORTUNE Small Business asked financial research firm Zacks to screen annual reports for public companies with annual revenue of less than $200 million and a stock price of more than $1. Within that group, companies were ranked based on the past three years' earnings growth, revenue growth, and stock performance. PAR's 2004 revenue was $175 million, up 25% from 2003, and 2004 earnings per diluted share were $0.61, up 126% from 2003.
"We are honored to be recognized as one of the top 100 fastest growing small companies by Fortune Small Business Magazine," said John W. Sammon, President and Chief Executive Officer of PAR Technology. "We see this designation as a direct result of our growth strategy that has resulted in expanding our markets and product reach across the globe. We want to thank our valued customers for their continued support and especially want to recognize our employees for their dedication and hard work in helping us become one of the fastest growing companies in the United States."
In addition to the FORTUNE Small Business award, PAR was also recently ranked #15 on Business 2.0 Magazine's list of "100 Fastest Growing Technology Companies" in America. Business 2.0's ranking was determined from a list of more than 2,000 publicly traded technology companies that were trading for at least three years, produced at least $50 million in annual revenue, and generated positive cash flow during the most recently reported 12 months. Business 2.0's final list was determined by the weighting of four factors -- revenue growth, profitability and operating cash flow during the past 3 years; along with the Company's twelve-month investment return as of March 31, 2005.
About PAR Technology Corporation
PAR Technology Corporation is a leading provider of professional services and enterprise business intelligence software and hardware to the hospitality industry. PAR develops, markets and supports hardware and software products that improve the ability of hospitality business professionals to make timely, fact-based business decisions. The Company is a premier provider of I/T management solutions to hotel/resort and restaurant companies, with over 40,000 installations worldwide in 100 countries. PAR is also a leader in providing computer-based system design and engineering services to the Department of Defense and Federal Government Agencies. PAR Technology Corporation's stock is traded on the New York Stock Exchange under the symbol PTC. For more information visit the Company's website at www.partech.com.
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