Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced that it ranked No. 284 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Local Corporation grew 266 percent from 2007 to 2011.
"We’re pleased to again be included in the prestigious Deloitte Technology Fast 500," said Heath Clarke, Local Corporation chairman and chief executive officer. "Our commitment to delivering digital marketing solutions to small businesses, regional publishers, and national advertisers alike across the Web continues to yield strong growth and industry recognition for our company. We’d like to take this opportunity to thank Deloitte for their leadership in celebrating North America's fastest growing companies.”
“We are proud to honor the 2012 Technology Fast 500™ companies, and commend them for their outstanding growth,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. "These ground-breaking companies have outpaced their competition and are reinventing the way we do business today.”
“The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy,” said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). “As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Local Corporation for this impressive accomplishment.”Overall, 2012 Technology Fast 500™ companies achieved revenue growth ranging from 128 percent to 279,684 percent from 2007 to 2011, with an average growth of 2,774 percent. About Deloitte’s 2012 Technology Fast 500™ Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.