USA Technologies Ranked Number 26 in Deloitte's Fast 50 Program for Greater Philadelphia
MALVERN, Pa., Oct 31, 2008 (BUSINESS WIRE) -- USA Technologies Inc. (NASDAQ:USAT) has been named to Deloitte's prestigious Fast 50 Program for Greater Philadelphia. USA Technologies ranked 26 of the 50 fastest-growing technology, media, telecommunications and life sciences companies in the area by Deloitte LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years from 2003--2007.
USA Technologies experienced a staggering 221 percent revenue growth for that four-year period. Chairman and CEO, George R. Jensen Jr., credits the company's expanding line of innovative products and solutions as well as delivering greater value and more options for customers. Mr Jensen said, "We are seeing accelerating acceptance of our ePort(TM) product line and services by the vending industry in addition to the continued popularity of our VendingMiser(R) which cuts vending machine energycosts by nearly half. Today, most major debit/credit card companies, bottlers and vending companies are adopting our cashless and energy management product lines. We are planning for significant ongoing growth over the next five years, and beyond."
USA Technologies' increase in revenues of 221 percent from 2003 to 2007 resulted in a 26th ranking in the Fast 50 for Greater Philadelphia.
The Greater Philadelphia Fast 50 program is presented by Deloitte and sponsored by Fragomen, Del Rey, Bernsen & Loewy, LLP, The Judge Group, and UK Trade & Investment.
To qualify for the Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, 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 proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Winners of the regional Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications, and life sciences companies. For more information on Deloitte's Fast 50 or Fast 500 programs, visit www.fast500.com.
About USA Technologies:
USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has agreements with AT&T, Honeywell, Blackboard, MasterCard and others. For further information on USA Technologies, please visit www.usatech.com
About Deloitte:
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
SOURCE: USA Technologies Inc.
USA Technologies George Jensen, Chairman & CEO, 800-633-0340 Stephen P. Herbert, President & COO, 800-633-0340 sherbert@usatech.com or Investor Relations: Porter, LeVay & Rose Jeffery Myhue,212-564-4700 Marlon Nurse,212-564-4700
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