9/15/2003 - Cadence Design Systems, Inc. (NYSE: CDN) announced that Business 2.0 has named Cadence as one of the fastest-growing technology companies in their second annual B2 100 ranking. Cadence® ranked 84 on the list. The B2 100 is featured in the October 2003 issue of the magazine, on newsstands Sept. 22.
To make the B2 100, companies had to meet rigorous financial requirements. 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.
In announcing this year's list, Business 2.0 editor Josh Quittner observed that "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. Technology is alive and well, as proven by the performance of these companies."
"It is always an honor to be recognized as a leader by the business community, but we at Cadence are especially thrilled about this ranking given the tough economic climate and fierce competitive landscape," said Ray Bingham, President and CEO of Cadence. "Our placement within the B2 100 demonstrates our unwavering commitment to deliver value to our customers via outstanding technology, best-of-breed products and dedication to innovation."
Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics based products. With approximately 5,000 employees and 2002 revenues of approximately $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services is available at www.cadence.com.
Cadence and the Cadence logo are registered trademarks, and Incisive is a trademark of Cadence Design Systems, Inc.
ABOUT BUSINESS 2.0
Business 2.0, a monthly magazine about business, technology, and innovation, is published out of The FORTUNE Group at Time Inc., an AOL Time Warner company. For more information, visit its website at www.business2.com.
Previous Page | News by Category | News Search
If you found this page useful, bookmark and share it on: