October 1, 2008
Flow International Corp., a 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 2003 to 2007.
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 78 percent revenue growth from 2003–2007.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, 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 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.
The list of the Washington State Fast 50 can be found here.