SUNNYVALE, Calif., Nov. 17 Accuray Incorporated(Nasdaq: ARAY), a global leader in the field of radiosurgery, today announcedthat it ranked 55th on Deloitte's 2008 Technology Fast 500, a ranking of the500 fastest growing technology, media, telecommunications and life sciencescompanies in North America. Rankings are based on percentage of fiscal yearrevenue growth over five years, from 2003-2007. Accuray Incorporated grew morethan 5,000 percent during this period.
"We are honored to be ranked amongst some of the strongest, mostinnovative companies nationwide," said Euan S. Thomson, president and chiefexecutive officer of Accuray. "Our ability to achieve exceptional growth isthe result of rapid acceptance and adoption of our core technology, theCyberKnife Robotic Radiosurgery System, and the unique benefits it providescancer patients worldwide."
"Deloitte's Technology Fast 500 recognizes companies who have achievedextraordinary growth in North America's most innovative and competitive marketsectors," said Phil Asmundson, Deloitte LLP vice chairman and nationalmanaging partner for Technology, Media and Telecommunications. "Wecongratulate Accuray on this significant accomplishment."
In addition to ranking on Deloitte's Technology Fast 500, Accuray rankedfifth on the Silicon Valley Technology Fast 50, which is a ranking of the 50fastest growing technology firms in the San Francisco Bay Area.
Overall, companies that ranked on the 2008 Technology Fast 500 had growthrates ranging from 242 to 138,762 percent over five years, with an averagegrowth rate of 3,043 percent.
Fast 500 Selection and Qualifying Criteria
The Fast 500 ranks the fastest growing technology, media,telecommunications and life sciences companies in North America. It iscompiled from Deloitte's regional North American Fast 50 programs, nominationssubmitted directly to the Fast 500, and public company database research.Companies are selected based on percentage revenue growth from 2003 to 2007.
Entrants must own proprietary intellectual property or proprietarytechnology that contributes to a significant portion of the company'soperating revenues or devote a significant proportion of revenues to researchand development of technology. Using other companies' technology orintellectual property in a unique way does not qualify. Base-year operatingrevenues must be at least $50,000 USD or $75,000 CD, and current-yearoperating revenues must be at least $5 million USD or CD. Companies must bein business a minimum of five years, and they must be headquartered withinNorth America.
Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is aglobal leader in the field of radiosurgery dedicated to providing an improvedquality of life and a non-surgical treatment option for those diagnosed withcancer. Accuray develops and markets the CyberKnife Robotic RadiosurgerySystem, which extends the benefits of radiosurgery to include extracranialtumors, including those in the spine, lung, prostate, liver and pancreas. Todate, the CyberKnife System has been used to treat more than 50,000 patientsworldwide and currently more than 145 systems have been installed in leadinghospitals in the Americas, Europe and Asia. For more information, please visitwww.accuray.com.
As used in this document, "Deloitte" means Deloitte LLP. Please seewww.deloitte.com/about for a detailed description of the legal structure ofDeloitte LLP and its subsidiaries.
Safe Harbor Statement
The foregoing may contain certain forward-looking statements that involverisks and uncertainties, including uncertainties associated with the medicaldevice industry. Except for the historical information contained herein, thematters set forth in this press release, including statements relating tocommercialization of products, revenue growth, clinical studies, regulatoryreview and approval are forward-looking statements within the meaning of the"safe harbor" provisions of the Private Securities Litigation Reform Act of1995. Forward-looking statements speak only as of the date the statements aremade and are based on information available at the time those statements aremade and/or management's good faith belief as of that time with respect tofuture events. You should not put undue reliance on any forward-lookingstatements. Important factors that could cause actual performance and resultsto differ materially from the forward-looking statements we make include:market acceptance of products; competing products, the combination of ourproducts with complementary technology; and other risks detailed from time totime under the heading "Risk Factors" in our report on Form 10-K for the yearended June 30, 2008 as updated from time to time by our quarterly reports onForm 10-Q and our other filings with the Securities and Exchange Commission.The Company's actual results of operations may differ significantly from thosecontemplated by such forward-looking statements as a result of these and otherfactors. We assume no obligation to update forward-looking statements toreflect actual performance or results, changes in assumptions or changes inother factors affecting forward-looking information, except to the extentrequired by applicable securities laws.
SOURCE Accuray Incorporated