Message #8 From:
NewsBot Date: October 19, 2005 01:00:00 AM
PBME News Pacific Biometrics, Inc. Ranked the 485th Fastest Growing Technology Company in North America on the 2005 Deloitte Technology Fast 500; Attributes Its 249 Percent Revenue Growth over the Past 5 Years to World-Class Science
SEATTLE--(BUSINESS WIRE)--Oct. 19, 2005--Pacific Biometrics, Inc. (PBI; OTCBB: PBME) announces that it ranked 485th on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on the percentage of revenue growth over five years, from 2000-2004. Pacific Biometrics' revenue grew 249 percent during this period.
PBI's CEO, Ronald Helm, credits world-class science and a strong reputation for quality with the company's 249 percent revenue growth over the past five years. He commented, "As a specialty central laboratory serving the pharmaceutical, biotechnology, and diagnostic industries, we are very fortunate to be well positioned in a significant and growing market."
"Making the Deloitte Technology Fast 500 is commendable in today's highly competitive technology industry," said Tony Kern, deputy national managing principal of Deloitte's Technology, Media & Telecommunications industry practice. "We congratulate Pacific Biometrics on being one of the 500 fastest growing technology companies in North America."
In addition to ranking on Deloitte's Technology Fast 500, PBI ranked 21st on the Washington State Technology Fast 50, which is a ranking of the 50 fastest growing technology firms in Washington State.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte's 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 USD or $75,000 CD for the United States and Canada, respectively, and 2004 operating revenues of at least $1 million USD or CD.
Entrants must be 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.
Established in 1989, PBI provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The company provides expert services in the areas of cardiovascular disease, diabetes, osteoporosis, arthritis, and nutrition. The PBI laboratory is accredited by the College of American Pathologists, and through its non-profit affiliate Pacific Biometrics Research Foundation, is one of only three U.S.-based members of the Centers for Disease Control (CDC) Cholesterol Reference Method Laboratory Network. PBI's clients include many of the world's largest pharmaceutical, biotech, and diagnostic companies.
Pacific Biometrics also owns several patented and patent-pending technologies, including monitoring devices for glucose and changes in bone turnover, an advanced, proprietary, isothermal DNA amplification technology, and a gene-based cell viability technology to distinguish live from dead cells in a broad range of diagnostic applications.
For more information about Pacific Biometrics, visit the company's web site at www.pacbio.com or contact Ronald Helm, Chairman / CEO, at 206-298-0068.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu" or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements including to but not limited to our strategic planning and business development plans, our future growth, and the viability and acceptance of our products and services in the market. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to bid on and win laboratory services contracts, the success of our marketing and business development efforts, competition in the industry, and our ability to manage growth and our investments in our infrastructure, as well as the risks and other factors set forth in our periodic filings with the U.S. Securities and Exchange Commission (including our Form 10-KSB for the year end).
