Greenwich, CT, November 5, 2007 — Megadata Corporation (OTC: MDTA) has been named to Deloitte’s prestigious Connecticut Technology Fast 50 Program for the fourth year. The program, a ranking of the 50 fastest growing technology companies in the state, is organized by Deloitte & Touche USA LLP’s subsidiaries, in cooperation with the Connecticut Technology Council. Announced October 6, 2005, Technology Fast 50 rankings are based on the percentage of growth in fiscal year revenues over five years, 2000-2004.
"Congratulations again to our employees for their hard work and strong performance, and thanks to our customers for trusting us to provide solutions that meet their mission critical requirements," stated Jim Barry, Megadata's president and CEO.
“Sustaining high revenue growth over five years is an exceptional accomplishment,” said Kevin Buckley, Strategic Relationship Manager, Deloitte Services, LLP. “We commend Megadata for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor Megadata to Deloitte’s Technology Fast 50.”
To qualify for the Connecticut Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2004; must be public or private companies headquartered in North America; must be a "technology company," defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or must be devoting a significant proportion of revenues to research and development of technology.
Winners of the 20 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 Program, which ranks North America's 500 fastest growing technology companies. For more information on the Deloitte Technology Fast 50 or Fast 500 programs, visit www.fast500.com.
About Megadata
Megadata owns and operates a unique database of flight information with proprietary decision-making software, primarily powered by a growing international network of passive radars (PASSURs) located at more than 70 airports world-wide, including 33 of the top 35 U.S. airports - from which it provides PASSUR information, analytics, and decision support tools to improve the financial condition and operational efficiency of aviation organizations. Megadata offers unique user friendly information as well as decision algorithms which provide innovative commercial air traffic solutions to more than 50 airports, including 8 of the top 10 U.S. airports; dozens of airlines, including 7 of the top 10 U.S. airlines; and more than 150 corporate aviation customers, as well to the U.S. Government. In addition, the Company has created and implemented collaborative web-based software that allows the Company’s customers to instantly share information to improve individual and joint decision making, creating additional value for those customers. The forward-looking statements in this news release relating to management’s expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those related to customer needs, budgetary constraints, competitive pressures, the success of airline trials, the profitable use of the Company’s PASSURs located at major airports, the Company’s maintenance of above average quality of its product and services, as well as potential regulatory changes. Further information regarding factors that could affect the Company’s results is contained in the Company’s SEC filings, including the October 31, 2006 Form 10-K, and the July 31, 2007 10-Q.