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Universal Display Ranked No. 441 Fastest-growing Technology Company in North America on 2003 Deloitte Technology Fast 500
October 17, 2003 |Estimated reading time: 1 minute
Ewing, N.J. — Universal Display Corp. ranked No. 441 on the 2003 Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America.Rankings are based on average percentage revenue growth during five years, from 1998 through 2002. Universal Display grew 563 percent during this period.Universal Display President and Chief Operating Officer Steven V. Abramson credits the company's revenue growth during the past five years to a strong foundation of technological achievements and advances toward commercialization. In addition to ranking on the Deloitte Technology Fast 500, Universal Display ranked 22nd on the New Jersey Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in the region.The Fast 500 list is compiled from Deloitte's 20 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1998 operating revenues of at least US $50,000 and Canada $75,000 for the United States and Canada, respectively; and 2002 operating revenues must be at least $1 million in U.S. or Canadian dollars. Deloitte researchers examined financial statements to validate operating revenues.Entrants must also be public or private companies headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology 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 in a unique way does not qualify. Universal Display Corp. is a world leader in developing and commercializing innovative organic light emitting device (OLED) technologies and materials for use in the electronic flat panel display and other markets. For more information, visit www.universaldisplay.com.