BALTIMORE—(BUSINESS WIRE)—October 2, 2006— Avatech Solutions, Inc. (OTCBB: AVSO.OB), the nationwide technology experts for design, engineering, and facilities management, announced today that it has been named one of Deloitte's prestigious Technology Fast 50 companies.
A ranking of the 50 fastest growing technology companies in
Maryland and Virginia, the Technology Fast 50 award is based on
percentage revenue growth over the five years between 2001 and 2005.
"As Avatech continues to drive business value for our customers
year after year, we are also creating real investor value," said
Avatech CEO Scotty Walsh. "This award acknowledges top-line revenue
growth, which is an excellent measure of success. I want to point out
that not only are we rapidly growing top-line revenues, but we have
also been realizing increased profitability."
"To rank on Deloitte's Technology Fast 50, companies must have
phenomenal revenue growth over five years," said Andrew Harris,
Southeast Regional Managing Partner at Deloitte. "Avatech Solutions
has proven to be one of the fastest growth success stories in Maryland
and we applaud their dedication to making their vision a reality."
Deloitte automatically enters winners of the Fast 50 in the
national Fast 500 program, which ranks the top 500 fastest growing
technology companies in North America.
"We are honored to be recognized by Deloitte and the Technology
Fast 50 sponsors for our strong performance. Well-defined revenue
goals moving forward guide our strategy for continued success," said
Jim Hindman, Chair of the Board at Avatech. "I want to congratulate
our superb management team for executing on its vision and for the
strategy over the last five years that led to winning this spot in the
Deloitte Fast 50."
About Avatech Solutions
Avatech Solutions, Inc. (OTCBB:
AVSO.OB) is a nationwide design
automation and technology services company providing innovative
solutions that enable clients to more effectively design, develop, and
manage projects, products, and facilities. Avatech experts give
customers a competitive advantage through technology consulting,
implementation, integration, training and support services exclusively
for the design, engineering, and facilities management industries.
Headquartered in Owings Mills, Maryland, Avatech is one of the largest
integrators of Autodesk software worldwide and a leading provider of
PLM solutions. Customers include industry leaders from the Fortune 500
and Engineering News Record's Top 100 companies. Visit
http://www.avatech.com for more information.
This press release contains forward-looking statements about the
expectations, beliefs, plans, intentions, and strategies of Avatech
Solutions, Inc. There are a number of important factors that could
cause actual results to differ materially from those anticipated by
any forward-looking information. A description of risks and
uncertainties attendant to Avatech and its industry, and other factors
that could affect the Company's financial results, are included in its
Securities and Exchange Commission filings, including, but not limited
to, the annual report on Form 10-K for the fiscal year ending June 30,
2006 and other Securities and Exchange Commission filings. Investors
and shareholders may obtain a free copy of the documents filed by
Avatech Solutions, Inc. with the Commission at the Commission's web
site at www.sec.gov.
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