American Sensor Technologies Named One of New Jersey’s Fastest Growing Technology Companies in Deloitte Technology Fast 50 Program
FOR IMMEDIATE RELEASE
Media Contact: Greg Montrose/ 973-448-1901/ gwmontrose@astsensors.com
AST Contact: Michael P. Eldredge/ 973-448-1901/ mpeldredge@astsensors.com
 Press Release PDF |
Landing, NJ - August 12, 2004
American Sensor Technologies, a NJ-based manufacturer of state-of-the-art, MEMS-based pressure sensors, transducers, and transmitters, ranked fifth in Deloitte’s Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology companies in the state by Deloitte & Touche LLP. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999 – 2003.
“With our innovative sensor technology and experienced team of engineers, American Sensor Technologies has been very successful in growing both its revenue and customer base in the highly competitive global sensor market,” states Karmjit S. Sidhu, Vice President Business Development, American Sensor Technologies. “Over the past five years, our company experienced a 1746% percent revenue growth and we anticipate continued growth into the future.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
“The Deloitte New Jersey Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment,” said Paul Mlynarski, Tax Partner and Chair of the New Jersey Technology Fast 50. “We applaud the success of American Sensor Technologies and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years.”
Winners of the 19 regional Technology Fast 50 programs in North America are automatically entered into the Deloitte Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology companies. Winners of this program will be announced in October 2004. For more information on the Deloitte Technology Fast 50 or Fast 500 programs, visit www.fast500.com.
About AST
AST manufactures state-of-the-art, MEMS-based pressure sensors, transducers and transmitters that offer the best price-performance ratio in the industry. Common applications of AST sensor products are found in industrial OEM, hydraulic systems, fuel cells, medical gases, HVAC/R, refrigeration (ammonia, Freon, CO2), oil & gas exploration and production, and off-road vehicles. By combining exotic metals and AST's exclusive, proprietary Krystal Bond™ Technology [an advanced process in which inorganic materials are molecularly diffused onto a metallic surface in the presence of certain gases], AST can produce high-performance strain gauge pressure sensors that support the specialized needs of key niche markets. Many AST products are UL listed as intrinsically safe and certified for explosion-proof required environments. Some of the world's most highly respected industrial Fortune 500 corporations have tested and now use AST products in a wide range of critical and harsh environments. For more information on AST products and technology, go to AST's website at www.astsensors.com.
About Deloitte
Deloitte, one of the nation’s leading professional services firms, provides audit, tax, financial advisory services and consulting through nearly 30,000 people in more than 80 U.S. cities. Known as an employer of choice for innovative human resources programs, the firm is dedicated to helping its clients and its people excel. “Deloitte” refers to the associated partnerships of Deloitte & Touche USA LLP (Deloitte & Touche LLP and Deloitte Consulting LLP) and subsidiaries. Deloitte is the US member firm of Deloitte Touche Tohmatsu. For more information, please visit Deloitte’s web site atwww.deloitte.com/us.