Outerwall Named One Of The Fastest Growing Companies In North America On Deloitte's 2013 Technology Fast 500™ Attributes Revenue Growth to a Focus on Automated Retail Solutions That Enhance Consumers' Lives
BELLEVUE, Wash., Nov. 14, 2013 /PRNewswire/ -- Outerwall Inc. (Nasdaq: OUTR), formerly Coinstar, Inc., today announced it ranked 332nd on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Outerwall's consolidated revenue grew more than 200 percent during 2008 through 2012.
Outerwall's Chief Executive Officer J. Scott Di Valerio credits this achievement to the company's focus on its core strengths in automated retail, understanding consumer needs and its commitment to innovation.
"We are honored to be recognized by Deloitte as one of the fastest growing companies in North America," said Di Valerio. "Since the beginning, Outerwall focused on creating inventive and intuitive solutions for both consumers and retailers. We believe automated retail is an enduring channel that addresses consumers' needs for simplicity, value and convenience, while also contributing to retailers' profitability."
"The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
"The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront," added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. "The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year."
Overall, 2013 Technology Fast 500™ companies achieved revenue growth ranging from 137 percent to 208,897 percent from 2008 to 2012, with an average growth of 2,600 percent.
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Outerwall Inc.
Outerwall (Nasdaq: OUTR) has more than 20 years of experience creating some of the most profitable spaces for their retail partners. The company mission is to create a better everyday by delivering breakthrough kiosk experiences that delight consumers and generate revenue for retailers. As the company that brought consumers Redbox® entertainment, Coinstar® money services, Rubi™ coffee, and ecoATM ® electronics recycling kiosks, Outerwall is leading the next generation of automated retail and paving the way for inventive, scalable businesses. Outerwall kiosks are in neighborhood grocery stores, drug stores, mass merchants, malls, and other retail locations in the United States, Canada, Puerto Rico, the United Kingdom, and Ireland. Learn more at www.outerwall.com.
SOURCE Outerwall Inc.