NORTH PITTSBURGH SYSTEMS, INC. INCLUDED IN BUSINESS 2.0 MAGAZINE'S 2ND ANNUAL "B2 100" RANKING OF FASTEST-GROWING TECH COMPANIES
September 10, 2003
SAN FRANCISCO - Gibsonia, PA based North Pittsburgh Systems, Inc. announces its inclusion today in Business 2.0's second annual B2 100, the magazine's ranking of the country's 100 fastest-growing technology companies. North Pittsburgh Systems, Inc. includes local telephone provider North Pittsburgh Telephone Company, telecommunications provider Penn Telecom, Inc., and Internet provider Nauticom Internet Services. The B2 100 is featured in the October 2003 issue of the magazine, on newsstands Sept. 22.
To make the B2 100, companies had to meet rigorous financial requirements. The list of 100 was winnowed down from an original group of 2,000 publicly traded tech firms. Criteria for making the final list included at least three years of trading on a major U.S. stock exchange, at least $50 million in annual revenue, and positive cash flow over the most recently reported 12 months. Business 2.0 editors then ranked the companies with the help of Zacks Investment Research of Chicago, using a combination of four financial criteria: growth in revenue, profit, and operating cash flow during the past three years, and the 12-month stock return. Cash flow growth counted or 40 percent of a company's ranking; each of the other criteria counted for 20 percent. Of the 10 companies on the list that pay dividends, North Pittsburgh Systems, Inc. has the highest yield.
In announcing this year's list, Business 2.0 editor Josh Quittner observed that "Companies on the 2003 B2 100 have shown remarkable results in a most challenging business environment. But what the list shows is who to watch, who to watch out for, and what we can learn from the leaders. Technology is alive and well, as proven by the performance of these companies."
"We have made stability and reliability in telecommunications and Internet services one of our main goals," said Harry R. Brown, President and Chief Executive Officer of North Pittsburgh Systems, Inc. "It is important for our customers to know that we will be there for them."
ABOUT NORTH PITTSBURGH SYSTEMS, INC.
North Pittsburgh Systems, Inc. offers a vast array of telecommunications products and services for both residential and business applications, and serves one of the fastest growing regions in western Pennsylvania. Wholly owned subsidiaries of the company include North Pittsburgh Telephone Company, telecommunications provider Penn Telecom, Inc., and Internet service provider Nauticom Internet Services. For more information, visit our website at www.northpittsburgh.com.
ABOUT BUSINESS 2.0
Business 2.0, a monthly magazine about business, technology, and innovation, is published out of The FORTUNE Group at Time Inc., an AOL Time Warner company. For more information, visit its website at www.business2.com.
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