Rankings are based on percentage of fiscal year revenue growth during the period from 2005-2009. RigNet grew 509 percent during this period. Overall, 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.
RigNet's CEO & president, Mark Slaughter, credits the company's growth to its array of leading-edge remote communication solutions and technologies, global presence and commitment to customer service.
Slaughter said, "This year marks RigNet's fifth year in a row to win Deloitte's prestigious Technology Fast 500™ award, and we are very proud to be recognized for this achievement. For years, our remote communications solutions have enabled companies in the oil and gas industry to maximize operational efficiency and mitigate risks at their remote locations as well as improve quality of life for their remote workforces. RigNet employees stationed all over the world have worked tirelessly to provide superior customer service. RigNet's steady revenue growth can be attributed to our unparalleled selection of high-tech products and services, global positioning of resources and unwavering commitment to customers."
Technology Fast 500™ 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 revenues. 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.
Based in Houston, Texas, RigNet has offices in Brazil, Nigeria, Norway, Qatar, Singapore, the United Kingdom and throughout the United States.