Strong Fundamentals Propel Pegasystems into Business 2.0 Magazine's Top 100 Fastest Growing Tech Companies Ranking
CAMBRIDGE, Mass., June 8, 2004 — Business 2.0 has named Pegasystems Inc. (NASDAQ: PEGA) one of the top 100-fastest growing technology companies in the U.S., Pegasystems announced today. The third annual Business 2.0 'B2 100 Fastest Growing Tech Companies' ranking identifies the top-performing publicly traded companies in the U.S. based on consistent growth in revenue, earnings, cash flow and stock return.
"Over the past year we've started to see an economic recovery. But no matter the rebound, it still requires innovative ideas, strong management skills and tight execution — not to mention luck — to grow rapidly in today's technology sector. With an eye towards helping our readers achieve the same, we offer this year's collection of Business 2.0 100 companies as a primer on shifting trends and inventive strategies," said Josh Quittner, editor of Business 2.0, in an earlier statement.
Business 2.0 chose Pegasystems from an initial list of 2,000 publicly traded tech companies. Only companies that have been traded for at least three years on a major U.S. stock exchange, generated at least $50 million in annual revenue, and had positive cash flow during the most recently reported 12 months were considered as finalists. Business 2.0 editors ranked the companies with the help of Zacks Investment Research of Chicago, using a combination of the four financial criteria. Cash flow growth counted for 40 percent of a company's ranking; each of the other criteria counted for 20 percent. Business 2.0 is one of the most influential publications in the technology industry, with a circulation of over a half-million copies per month.
"Many companies with good technology don't make it through the kind of hard economies we've had for the last few years because their business practices and performance don't keep pace," said Pegasystems president and COO Henry Ancona. "Earning a spot in the Business 2.0 ranking, which is based on hard financial data, demonstrates to customers and partners that we have delivered both."
About Business 2.0
Business 2.0, a magazine about business, technology and innovation, is published out of the FORTUNE Group at Time Inc., a Time Warner company. To learn more, visit www.business2.com.
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 including, without limitation, our financial guidance with respect to 2004 revenue, profit before tax, tax rate, earnings per share and cash from operating activities. The words "believe," "expect," "hope," "anticipate," "plan" and similar expressions, among others, identify forward-looking statements, which speak only as of the date the statement was made. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include volatility of our quarterly operating results, difficulty in predicting the completion of product implementations and consequently the timing of our license revenue recognition, the timing of term software license renewals, customer acceptance of our new PegaRULES Process Commander technology, our ability to develop new products and evolve existing ones, the impact on our business of the ongoing consolidation in the financial services market, historically our core market, our ability to attract and retain key employees, reliance on certain key third-party relationships, and other risks and uncertainties. Further information regarding these and other factors, which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release, is contained in the Company's most recent report on form 10-K and other recent filings on file with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent the Company's views as of June 8, 2004. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved. Although subsequent events may cause the Company's view to change, the Company does not undertake and specifically disclaims any obligation to publicly update or revise these forward-looking statements, whether as the result of new information, future events or otherwise. The statements should therefore not be relied upon as representing the Company's view as of any date subsequent to the date of this release.
NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.
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.
All trademarks are the property of their respective owners.
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
+44 (0) 118 9651 660
PR & Communications Manager
+44 (0) 118 9398 584
One Rogers St.
Cambridge, MA 02142
Phone +1 617-374-9600
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