Reston-Based Firm Ranks 28th in Virginia for Impressive Five-Year Growth of More than 570%
Reston, VA – September 25, 2008 – ConceptSolutions (www.Concept-Solutions.com), an information management and technology consulting company serving commercial, government, and military organizations, announced today it has, once again, been named to Deloitte’s prestigious Technology Fast 50 program with a ranking of 28th in Virginia.
Privately funded and always profitable since its founding in 1999, ConceptSolutions’ increased its revenue 572 percent from 2003 to 2007. The company’s 526 percent increase in revenue from 2002 to 2006 placed the company 19th in Deloitte’s 2007 Technology Fast 50 rankings in Virginia.
“ConceptSolutions is honored to have earned its second Fast 50 ranking in as many years,” said Phong Mai, ConceptSolutions President and CEO. “This award reflects ConceptSolutions’ continued commitment to positive growth as well as our high standards of performance and professionalism. We’re proud to again be recognized by Deloitte as one of Virginia’s fastest growing technology companies.”
The Fast 50 is a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in Virginia by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over the past five years (from 2003-2007).
In 2007, Deloitte also honored ConceptSolutions as a Top 10 Technology Fast 50 Business Diversity Award winner, ranking the company 7th on that list. The Technology Fast 50 Business Diversity Awards acknowledge the growing importance innovative local small technology businesses in Maryland and Virginia that are owned and managed by individuals classified by the U.S. Small Business Administration as having one or more of the following small business designations: Minority-Owned, Woman-Owned, Veteran-Owned, Service Disabled Veteran-Owned, Small Disadvantaged Business, and HUBZone (Historically Underutilized Business Zone) certification.
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in Virginia, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company’s operating revenues; or devotes a significant portion of revenues to the research and development of technology. Using other companies’ technology or intellectual property in a unique way does not qualify