QUEBEC CITY, Sept. 25 /CNW/ - Lyrtech Inc. ("Lyrtech" or the "Company")
(TSX-V: LYT), a worldwide leader in digital signal processing ("DSP")
technologies, announced today that it has been ranked among the Deloitte
Technology Fast 50, a ranking of the 50 fastest-growing technology companies
in Canada, based on the percentage of revenue growth over five years.
Lyrtech's increase in revenues of 424% from 2002 to 2006 resulted in a 43rd
"This award is a tribute to the radical efforts we have deployed in order
to turn Lyrtech around, become a true ODM service provider and as such,
generate strong, sustained revenue growth for the past five years," said
Miguel Caron, CEO of Lyrtech. "This award goes to all our employees, first and
foremost. Their expertise and technical prowess is the source of Lyrtech's
success and distinction. We are proud of this accomplishment as Deloitte's
recognition will act as a strong motivator to continue to grow and push our
excellence even further," he concluded.
"Transforming technological innovation into business success is hard and
it's especially difficult to sustain such rapid revenue growth over five
years. Lyrtech has rapidly built a highly successful company in the Canadian
technology industry and we applaud their dedication and ability to transform
their vision into reality," said John Ruffolo, National Leader, Technology,
Media & Telecommunications Industry Group, Deloitte.
To qualify for the Deloitte Technology Fast 50 ranking, companies must
have been in business for at least five years, have revenues of at least
$5 million, be headquartered in Canada, own proprietary technology, and
conduct research and development activities in Canada. A panel of subject
matter experts evaluates and judges companies based on four key criteria:
competitive advantage; size, growth and market attractiveness; management
effectiveness and organization; and financial performance.
About the Deloitte Technology Fast 50 - This year marks the 10th
anniversary of the Deloitte Technology Fast 50 program, which celebrates
business growth, innovation and entrepreneurship. The program features four
distinct categories including the Deloitte Technology Fast 50 Ranking,
Companies-to-Watch Awards (honouring early-stage Canadian technology companies
in business less than five years), Leadership Awards (Deloitte Technology
50-ranked companies that demonstrate leadership in each of the four industry
subcategories of emerging technologies, hardware, software, and
telecommunications) and the Deloitte Technology Green 15 Awards (honouring
companies creating innovative and economically viable intellectual property in
the burgeoning field of green technology). Deloitte Technology Fast 50 winners
are automatically eligible for the prestigious Deloitte Technology Fast 500
ranking. Program sponsors include Deloitte, Gowlings, GrowthWorks, CIBC World
Markets, Stonewood Group, Behr and Associates, and CATAAlliance. For further
information, visit www.fast50.ca or call 1-888-6FAST50.
About Lyrtech Inc.
Lyrtech develops and manufactures advanced digital signal processing
solutions for companies worldwide, a vital technology to network and wireless
communications, audio and video processing, as well as electronic systems in
all fields of technology. Lyrtech offers a full range of DSP-FPGA development
platforms, as well as design, prototyping, and manufacturing of electronic
products through its Innovator division.
Lyrtech works in partnership with industry leaders such as Texas
Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many
prestigious names of the consumer electronics, telecommunications, aerospace,
and defense fields such as BAE Systems, Defence Research and Development
Canada (DRDC), the European Aerospace Defence and Space Company (EADS),
Fujitsu, Harris, ITT, Motorola, Neural Audio, NTT DoCoMo, and Samsung-Thales.
For more information please visit www.lyrtech.com.
FORWARD LOOKING STATEMENTS
Certain statements made in this press release regarding Lyrtech's future
operations, expected financial position, future revenues, projected costs,
prospects, plans and objectives are forward-looking statements. These
forward-looking statements, by their nature, necessarily involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. Lyrtech considers the
assumptions on which these forward-looking statements are based to be
reasonable at the time they were prepared, but cautions that these assumptions
regarding future events, many of which are beyond Lyrtech's control, may
ultimately prove to be incorrect. Factors and risks which could cause actual
results to differ materially from current expectations are discussed in
Lyrtech's annual report for the year ended December 31, 2006. Lyrtech
disclaims any intention or obligation to update or revise any forward-looking
statements. For additional information on risks and uncertainties relating to
these forward-looking statements, investors should consult Lyrtech's ongoing
filings, including its most recent annual report, found on SEDAR at
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: Miguel Caron, President and Chief Executive
Officer, Lyrtech Inc., (418) 877-4644, firstname.lastname@example.org; Alain Landry,
Chief Financial Officer, Lyrtech Inc., (418) 877-4644,
email@example.com; Matthieu Cardinal, Investor Relations, The Equicom
Group Inc., (514) 844-6054, firstname.lastname@example.org