Revenue Growth of 565 Percent During Five-Year Period Recognized by Prestigious Deloitte 2012 Technology Fast 500™
FREMONT, Calif., Nov. 14, 2012—Procera Networks, Inc. (NASDAQ: PKT), the intelligent policy enforcement company, today announced it ranked among the top 10 fastest growing networking companies and number 162 overall 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. Procera Networks grew 565% during this period.
“We are honored to be recognized, for the third year in a row, by Deloitte’s 2012 Technology Fast 500™. This award underscores Procera’s traction in the broadband communications market, as well as the confidence that service providers have in our technology,” said James Brear, CEO and President, Procera Networks. “Through our PacketLogic™ Intelligent Policy Enforcement solutions, operators now have the tools to not only keep up with the rapid pace of bandwidth consumption, but also have the visibility into subscriber behavior impacting networks in real-time, enabling new revenue streams by offering increasingly targeted personalized services, not previously possible.”
“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 Procera Networks for this impressive accomplishment.”
“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.”
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 4 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 Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement (IPE) solutions designed for carriers, service providers and high-end enterprises to enable proactive quality management; innovative service creation and delivery; detailed business analytics on network utilization and bandwidth consumption; and mitigate security threats. Procera's PacketLogic solutions deliver superior performance, scalability, and functionality to allow personalized services for millions of subscribers as part of the 3GPP Policy and Charging Control architecture. For more information, visit www.proceranetworks.com or follow Procera on Twitter at @ProceraNetworks.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to potential revenue and growth resulting from traction and interest from customers and the ability of the products and solutions provided by Procera Networks, Inc. to meet the requirements of advanced communications networks and achieve customer acceptance for its products. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements, including risks related to the acceptance and adoption of our products; our ability to service and upgrade our products; lengthy sales cycles and lab and field trial delays by service providers; our dependence on a limited product line; our dependence on key employees; our ability to compete in our industry with companies that are significantly larger and have greater resources; our ability to protect our intellectual property rights in a global market; our ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Procera Networks’ business are set forth in our Form 10-K filed for the year ended December 31, 2011, and in the subsequently filed quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
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