TeleCommunication Systems Ranked One of North America’s Fastest Growing Companies on Deloitte’s 2011 Technology Fast 500(TM)
Attributes 211 Percent Revenue Growth to Reputation as a Trusted Source for Wireless Communication Technology in Government and Commercial Markets
ANNAPOLIS, MD, Oct 19, 2011 — TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced it ranked 377 on Deloitte’s Technology Fast 500(TM) ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The rankings announced today by Deloitte are based on percentage of fiscal year revenue growth during the period from 2006-2010. TCS grew 211 percent during this period.
TeleCommunication Systems’ Chairman, President and CEO Maurice B. Tose credits the company’s reputation as a trusted source for wireless communication technology to government and commercial clients with the company’s 211 percent revenue growth. “While the business climate continues to be extremely demanding, we are proud of our record of sustained growth and leadership in the wireless and satellite communications arenas, and we look forward to continuing to bring innovative communications solutions to government and the private sector,” said Tose.
“TCS, like all 2011 Technology Fast 500(TM) companies, has excelled in fostering innovation and channeling it into spectacular growth — against the backdrop of one of the most challenging economies in history,” said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. “Deloitte recognizes TCS for its remarkable accomplishment.”
“We are pleased to honor TCS as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, TCS has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
TCS previously ranked number 431 as a Technology Fast 500(TM) award winner for 2010. Overall, 2011 Technology Fast 500(TM) companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS’ cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies, visit www.telecomsys.com.
About Deloitte’s 2011 Technology Fast 500™
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, 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 2006 to 2010. 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.
Company Contact:
TeleCommunication Systems, Inc.
Meredith Allen
410-295-1865
MAllen@telecomsys.com
Media Contact:
Nadel Phelan, Inc.
Graham Sorkin
831-440-2406
graham@nadelphelan.com
Investor Relations:
Liolios Group, Inc.
Scott Liolios
949-574-3860
info@liolios.com
