Pegasystems Climbs to No. 8 on FORTUNE’S 2010 List of Fastest-Growing Companies
CAMBRIDGE, Mass. – August 20, 2010 – Pegasystems Inc., (NASDAQ: PEGA), the leader in business process management (BPM) and a leading provider of customer relationship management (CRM) solutions, today announced that FORTUNE has ranked Pegasystems eighth on its 2010 "100 Fastest-Growing Companies" list, up significantly from the previous year. In addition, Pegasystems was named the third fastest growing technology company. The full list and related stories appear in the September 6, 2010 issue of FORTUNE, available on newsstands Monday, August 23, and now at http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2010/index.html.
FORTUNE Managing Editor Andy Serwer writes in the September 6, 2010 issue, "The troubled economy is on all of our minds these days, but sometimes we forget that even in the long slog we seem to be in, entrepreneurs are hard at work creating the next Cisco or Amgen or Starbucks."
"Being named to such a prestigious list for a second consecutive year is a true honor," said Alan Trefler, Founder and CEO of Pegasystems. "Our phenomenal growth over recent years is driven by the success our clients are achieving by implementing our Build for Change® Technology to reduce costs, grow revenues, and drive enterprise-wide transformation."
To qualify for 100 Fastest-Growing Companies, foreign or domestic companies had to meet the following criteria: be trading on a major U.S. stock exchange; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2010; and have been trading continuously since June 30, 2007. The company must also have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2010. Finally, the company must have posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2010.
Companies that meet the above criteria were ranked by revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 30, 2010. (To compute the revenue and EPS growth rates, FORTUNE uses a trailing four quarters log linear least square regression fit.) The overall rank was based on the sum of the three ranks. Once the 100 companies were identified, they were then re-ranked within the 100, using the three equally weighted variables. If there is a tie, the company with the larger four-quarter revenue receives the higher rank.
FORTUNE magazine is a global leader in business journalism with a domestic circulation of over 850,000 and a global readership of nearly 5 million, and major franchises including the FORTUNE 500 and the FORTUNE 100 Best Companies to Work For. FORTUNE Live Media extends the brand's mission into live events, hosting a wide range of annual conferences, including FORTUNE's Most Powerful Women and the FORTUNE Global Forum. FORTUNE publishes English-language editions in Europe and Asia, and local-language editions in China and South Korea. FORTUNE magazine's online home is CNNMoney.com, which draws 5.7 million readers a month.
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
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The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
Director, Corporate Communications
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