Color Kinetics Incorporated (Nasdaq: CLRK), a leading innovator of LED lighting systems and technologies, announced it is #22 on Forbes’ annual list of the country’s 25 fastest growing technology companies.
Color Kinetics ranked #22 on the list with 35% EPS growth — the fourth highest rate among the winners — and 32% growth in five-year sales.
The winners represent the top performers among 2,200 public U.S. tech stocks, and Color Kinetics was one of just 11 to land the distinction for the second consecutive year.
Said Bill Sims, President and CEO, “Ten years ago, it may have been unthinkable for a lighting company to appear on a list of top performers in the technology sector, but we’ve shown that there’s more to our industry than bulbs and fixtures. We believe that LEDs will profoundly shape the future of light — not only in the way that it’s controlled and applied, but in mitigating strain on our energy resources and environment. The technologies and intellectual property at the core of our business will continue to help guide this exciting transformation,” said Sims.
To qualify for the list, companies must have at least $25 million in sales, 10% annual sales growth for five consecutive years, profitability over the past 12 months, and 10% estimated annual profit growth for the next three to five years.
The complete list appears in the February 12 issue of Forbes.
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