QLogic Included for Second Consecutive Year in Business 2.0 Magazine's `B2 100' Fastest-Growing Technology Companies
ALISO VIEJO, Calif., Sep 16, 2003 (PRIMEZONE via COMTEX) --
QLogic Corp. (Nasdaq:QLGC), the company that powers storage area networks (SANs), today announced that it has once again made Business 2.0's B2 100, the magazine's ranking of the fastest-growing technology companies. QLogic, which ranked number 55, has made the annual list both years it has been published. The latest B2 100 is featured in the October 2003 issue of the magazine, on newsstands Sept. 22.
The list of 100 was winnowed down from an original group of 2,000 publicly traded tech firms. Criteria for making the final list included at least three years of trading on a major U.S. stock exchange at least $50 million in annual revenue, and positive cash flow over the most recently reported 12 months. Business 2.0 editors then ranked the companies with the help of Zacks Investment Research of Chicago, using a combination of four financial criteria: growth in revenue, profit, and operating cash flow during the past three years, and the 12-month stock return. Cash flow growth counted for 40 percent of a company's ranking; each of the other criteria counted for 20 percent.
"Companies on the 2003 B2 100 have shown remarkable results in a most challenging business environment. But what the list shows is who to watch, who to watch out for, and what we can learn from the leaders," said Josh Quittner, editor of Business 2.0. "Technology is alive and well, as proven by the performance of these companies."
"We're honored to once again appear on the B2 100," said H.K. Desai, president, chairman and CEO. "Due to the market acceptance of QLogic brands like SANblade(tm) host adapters, SANbox2(r) switches Fibre Down(tm) technology and SANsurfer(tm) software, our Fibre Channel business has grown at a healthy rate."
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