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| [November 14, 2012] |
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USA Technologies Named to Deloitte's 2012 Technology Fast 500™
MALVERN, Pa. --(Business Wire)--
USA
Technologies, Inc. (NASDAQ: USAT) ("USAT"), a leader of wireless,
cashless payment and M2M telemetry solutions for small-ticket,
self-serve retailing industries, has once again been named to Deloitte's
Technology Fast 500™, a ranking of the 500 fastest growing
technology, media, telecommunications, life sciences and clean
technology companies in North America. This is the third time in the
last five years that USA Technologies (News - Alert) has made the listing.
Stephen P. Herbert, chairman and CEO of USA Technologies, commented:
"Our recognition as one of the fastest growing technology companies in
North America once again this year underscores the tremendous potential
we believe exists for cashless payment and telemetry solutions in our
market segment. What's more, we believe that the self-serve retail
market is only at the early stages of cashless adoption.
"This significant market opportunity combined with the financial
milestones we continue to meet in terms of cash generation and
profitability provides USA Technologies, we believe, with a powerful
edge as the cashless payment and M2M (machine to machine) market
evolves," continued Herbert. "In addition, while we continue to aintain
a strong growth track and improved financial performance, we have
balanced those strategies with forward-thinking innovation that is tuned
to where our customers and partners believe are the greatest needs and
opportunities in this emerging market space."
"We are proud to honor the 2012 Technology Fast 500™ companies, and
commend them for their outstanding growth," said Eric Openshaw, vice
chairman, Deloitte (News - Alert) 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 USA Technologies
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.
About USA Technologies:
USA Technologies is a leader of wireless, cashless payment and M2M
telemetry solutions for small-ticket, self-serve retailing industries.
ePort Connect® is the company's flagship service platform, a
PCI (News - Alert)-compliant, end-to-end suite of cashless payment and telemetry
services specially tailored to fit the needs of the small ticket,
self-service retail industries. USA Technologies also provides a broad
line of cashless acceptance technologies including its NFC-ready ePort®
G8, ePort Mobile™ for customers on the go, and QuickConnect™, an API Web
service for developers. USA Technologies has been granted 84 patents;
and has agreements with Verizon (News - Alert), Visa, Elavon and major customers such
as Compass, Crane, AMI Entertainment and others. Visit the website at www.usatech.com.
G-USAT
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