CALGARY, Oct. 21 /CNW/ - WellPoint Systems Inc., ("WellPoint" or the "Company") (TSX-V:WPS), a leading provider of software and related solutions to the energy industry, today announced that it ranked number 250 on Deloitte's 2009 Technology Fast 500, a ranking of 500 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 during the five year period from 2004-2008. WellPoint grew 536 percent during this period.
"In recent years WellPoint has grown by completing a range of strategic acquisitions that brought complementary markets, products and technologies to our solutions portfolio," said Mr. Richard Slack, President and CEO of WellPoint. "In the future, we intend to grow by exploiting new, relatively untapped markets outside of North America, and by commercializing new solutions based on the Dynamics AX platform."
Deloitte's Technology Fast 500 recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth.
"With its impressive five-year growth, WellPoint has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Deloitte is proud to honor WellPoint for its achievement."
Technology Fast 500 Selection and Qualifying Criteria
The Technology Fast 500 award program ranks the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. It is compiled from nominations submitted directly to the Technology Fast 500 website, and public company database research conducted by Deloitte. Deloitte's 2009 Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not qualify. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues. Technology Fast 500 award eligibility requirements include a base-year operating revenues of at least $50,000 USD or CDN, and current-year operating revenues of at least $5 million USD or CDN. Additionally, these revenues must have more than doubled between 2004 and 2008. Also, companies must be in business for a minimum of five years, and be headquartered within North America.
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
About WellPoint Systems Inc.
WellPoint provides premier software and related services for managing critical operations within the energy industry. As a Microsoft Gold Certified Partner since 2005, WellPoint is the only Independent Software Vendor (ISV) and Microsoft Dynamics partner dedicated to the energy sector. It is breaking new ground with the creation of a more comprehensive, integrated energy software suite based on existing Microsoft ERP technology that utilizes state-of-the-art Dynamics AX(R) and .NET architectures. WellPoint also provides software and services under the BOLO, IDEAS International and AX EAM brands.
Founded in 1997, Calgary-based WellPoint Systems also has major operations in Denver, CO, Houston, TX, Livingston, NJ, Tampa, FL, Tunis, Tunisia and Pretoria, South Africa. WellPoint is publicly traded on the TSX Venture Exchange under the symbol WPS.
This document contains forward-looking statements. Some forward looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. The statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. The Company's actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, successful integration of structural changes, including restructuring plans, acquisitions, technical or manufacturing or distribution issues, the competitive environment for the Company's products, the degree of market penetration of the Company's products, and other factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time.
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SOURCE WELLPOINT SYSTEMS INC.
For further information: For further information: Richard Slack, President and Chief Executive Officer, (303) 987-2238, firstname.lastname@example.org; Bharat Mahajan, CA, Chief Financial Officer, (403) 444-3916, email@example.com