GERMANTOWN, Md., Oct. 20 /PRNewswire/ -- Hughes Communications, Inc. (HUGHES) today announced that it ranked number one on the 2010 Technology Fast 500™, Deloitte's ranking of the fastest growing technology, media, telecommunications, life sciences, and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth from 2005-2009. Hughes grew 164,079 percent during this period, which included when the company was first listed on NASDAQ: HUGH in September of 2006.
Hughes president and CEO, Pradman Kaul, credits the company's culture of innovation and service quality as being the primary drivers of its success. "I am proud to accept this prestigious award on behalf of all our loyal shareholders and dedicated Hughes employees who made it happen. Hughes has always been about innovation -- from pioneering satellite networks in the mid-80's and expanding the enterprise and government markets across the globe, to developing and operating SPACEWAY® 3, the world's first broadband satellite router-in-the-sky, to delivering high-speed Internet by satellite services to over half a million North American households and small businesses, thereby proving the profitability of the consumer satellite broadband business. It's been an amazing ride, but with the people we have, the best is yet to come."
Overall, the Deloitte Technology Fast 500 award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent.
Selection and Qualifying Criteria
Technology Fast 500 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 2005 to 2009. 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 revenue. 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. This ranking is compiled from nominations submitted directly to the Technology Fast 500 Web site, and public company database research.
About Hughes Communications, Inc.
Hughes Communications, Inc. (Nasdaq: HUGH) is the 100 percent owner of Hughes Network Systems, LLC. Hughes is the global leader in providing broadband satellite networks and services for enterprises, governments, small businesses, and consumers. HughesNet® encompasses all broadband solutions and managed services from Hughes, bridging the best of satellite and terrestrial technologies. Its broadband satellite products are based on global standards approved by the TIA, ETSI and ITU standards organizations, including IPoS/DVB-S2, RSM-A and GMR-1. To date, Hughes has shipped more than 2.2 million systems to customers in over 100 countries.
Headquartered outside Washington, D.C., in Germantown, Maryland, USA, Hughes maintains sales and support offices worldwide. For more information, please visit www.hughes.com.
Hughes and HughesNet are registered trademarks of Hughes Network Systems, LLC.
SOURCE Hughes Communications, Inc.