From Deseret News archives:

9 firms in Utah make tech list; 4 on Forbes' list

Published: Thursday, Oct. 21, 2004 10:18 a.m. MDT
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Nine Utah companies have made a list of fast-growing North American technology companies, with one finishing third in the rankings.

Also, four Utah companies are ranked in Forbes magazine's 2004 list of the 200 Best Small Companies. One Utah company was ranked second.

Both lists were announced Wednesday.

The "Technology Fast 500" by Deloitte & Touche LLP features rankings based on percentage fiscal-year revenue growth from 1999 through 2003.

Salt Lake-based STSN Inc., a supplier of high-speed Internet access to the hospitality industry, ranked third. It had 1999 revenues of $51,000, which grew to $60.6 million in 2003.

Other Utah companies on the list are:

• Arkona Inc., South Jordan, 65th, with 1999 revenues of $75,000 and 2003 revenues of $3 million.

• Altiris Inc., Lindon, 91st, $3.6 million to $99.4 million.

• The SCO Group Inc., Lindon, 97th, $3 million to $79.3 million.

• Ikano Communications, Salt Lake City, 175th, $2.2 million to $29.8 million.

• Omniture Inc., Orem, 257th, $948,000 to $8.6 million.

• Pacific WebWorks Inc., Salt Lake City, 313th, $306,000 to $2.2 million.

• Fonix Corp., Sandy, 394th, $440,000 to $2.4 million.

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• iMergent Inc., Orem, 410th, $10.3 million to $53.2 million.

The rankings were compiled based on information in public company databases, Deloitte's 19 regional "Technology Fast 50" programs in North America and direct nominations. Companies must have had 1999 operating revenues of at least $50,000 and 2003 operating revenues of at least $1 million, been in business at least five years and be headquartered in the United States or Canada.

Topping the list was Google, which had 2003 revenues of $961.9 million, which compares with 1999 revenues of $220,000.

The Forbes list included companies with sales in the $5 million to $750 million range, net profit margins greater than 5 percent and share prices above $5 as of Oct. 1. The companies must show a consistent pattern of positive growth during a five-year period, as well as over the past 12 months.

Headwaters, based in South Jordan, was ranked second, with a five-year return-on-equity rank of ninth, a sales rank of 52nd, a profits rank of 65th and a market value rank of 75th.

Other Utah companies on the Forbes list are:

• Usana Health Sciences, Salt Lake City, 16th overall, 10th in ROE, 110th in sales, 113th in profits and 105th in market value rank.

• Merit Medical Systems, South Jordan, 57th overall, 80th in ROE, 147th in sales, 133rd in profits and 136th in market value rank.

• Nutraceutical International, Park City, 128th overall, 49th in ROE, 150th in sales, 156th in profits and 184th in market value rank.

The top-ranked company in the Forbes list was Cognizant Technology.


E-mail: bwallace@desnews.com

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