ACCESS INTEGRATED TECHNOLOGIES NAMED RISING STAR IN DELOITTE'S TECHNOLOGY FAST 50 PROGRAM FOR NEW JERSEY
MORRISTOWN, N.J. - August 17, 2005 - Access Integrated Technologies, Inc. ("AccessIT") (AMEX: AIX) has been named a Rising Star in Deloitte's Technology Fast 50 program for New Jersey. The Rising Star award is a special designation for fast-growth technology companies that have been in business just three or four years and is part of the New Jersey Technology Fast 50 program, which ranks the 50 fastest growing technology companies headquartered in New Jersey. Rankings are based on the percentage of growth in fiscal year revenues over the preceding three years (2002 to 2004).
Since inception, AccessIT has grown organically and through acquisition into an end-to-end provider of software and services for the emerging digital cinema marketplace. An example of its unique capabilities is the company's digital content delivery service, which delivers movies and other content to movie theatre across the country via satellite or fiber. This unique service features a proactive approach to notifying both the movie distributor and exhibitor, ensuring that all parties have proper information regarding each delivery. This technology is revolutionizing the way movies are distributed around the world and AccessIT is at the forefront of that movement with the only integrated solutions for all members of the movie distribution supply chain.
The company has made 9 acquisitions including the movie distribution industry's leading software provider and the assets of Boeing Digital Cinema, a division of the Boeing Company. Most recently, the company announced a groundbreaking plan for a rollout of digital cinema equipment to 2,500 movie screens across the country. This initiative is set to begin in the fourth quarter of 2005 and is expected to be completed in early 2007.
"Making Deloitte's Technology Fast 50 Rising Star is a testament to a company's vision that has resulted in exceptional growth over three years," said Paul Mlynarski, Tax Partner and Chairperson of Deloitte's New Jersey Technology Fast 50. "AccessIT's leadership has the right stuff for growth, and Deloitte salutes their accomplishments."
"We are honored to be recognized for the second year in a row as a Rising is by the New Jersey Technology Fast 50 Program," said Bud Mayo, Chief Executive Officer of AccessIT. "Our strong financial performance is an indication of the dedication shown by our expanding team but also of our ability to seize opportunities as they arise. We look forward to the coming year and to our continued growth."
To qualify for the Technology Fast 50 Rising Star program, companies must have had operating revenues of at least $50,000 in 2002 and $1,000,000 in 2004, must be a public or private company headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.
Rising Star winners are automatically entered in the Deloitte Technology Fast 500 program's Rising Star category. The Deloitte Technology Fast 500 program ranks North America's top 500 fastest growing technology companies based on revenue growth over five years (1999-2003). Its Rising Star ranking is based on revenue growth over three years (2001-2003). For more information on the Deloitte Technology Fast 50 or Fast 500 programs, visit www.fast500.com.
Access Integrated Technologies, Inc. (AccessIT) is an industry leader in offering a fully managed storage and electronic delivery service for owners and distributors of digital content to movie theaters and other venues. Supported by its robust platform of fail-safe Internet data centers, AccessIT is able to leverage the market-leading role of its Theatrical Distribution System (TDS) with its innovative digital delivery capabilities and in-theatre software systems to provide the highest level of technology available to enable the emerging Digital Cinema industry to transition from film without changing workflows. For more information on AccessIT, visit www.accessitx.com.
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Safe Harbor Statement
Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of AccessIT officials during presentations about AccessIT, along with AccessIT 's filings with the Securities and Exchange Commission, including AccessIT 's registration statements, quarterly reports on Form 10-QSB and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might", "believes", "seeks", "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by AccessIT's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about AccessIT, its technology, economic and market factors and the industries in which AccessIT does business, among other things. These statements are not guarantees of future performance and AccessIT undertakes no specific obligation or intention to update these statements after the date of this release.
Suzanne Tregenza Moore
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Joel Pomerantz or Michael Glickman
The Dilenschneider Group