2008-11-12 15:56:02 -
www.theorchard.com - The Orchard Jaclyn Ranere, 212-201-2839 Jaclyn@theorchard.com The Orchard (NASDAQ: ORCD), a global leader in music and video entertainment, today announced that it ranked number 33 on Deloitte's 2008 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, and life sciences companies in North America. Rankings are based on percentage of fiscal year revenue growth
over five years, from 2003-2007. The Orchard grew 8,906 percent during this period; the average revenue growth is 3,043 percent among Fast 500 honorees.
The Orchard's President and CEO Greg Scholl attributes the company's performance to the Orchard's world-class artists and labels, and to the efforts of a dedicated, performance-driven Orchard team who operate with pride, integrity, passion and commitment.
The Orchard also garnered top honors and ranked first overall in the New York region. In the larger New York - New Jersey - Connecticut region, The Orchard ranked #2 overall. Last year, for the years 2002-2006, Orchard ranked 5th overall for the New York region.
"Deloitte's Technology Fast 500 recognizes companies who have achieved extraordinary growth in North America's most innovative and competitive market sectors," said Phil Asmundson, Deloitte LLP vice chairman and national managing partner for Technology, Media and Telecommunications. "We congratulate The Orchard on this significant accomplishment."
About The Orchard(R)
The Orchard (NASDAQ: ORCD) controls and globally distributes more than 1.3 million songs and over 5,000 video titles through hundreds of digital stores (e.g. iTunes, eMusic, Google, Netflix, V CAST) and mobile carriers (e.g. Verizon Wireless, Vodafone, Bell Canada, 3). With operations in 29 regions around the world, The Orchard drives sales for its label, retailer, brand, and agency clients through innovative marketing and promotional campaigns; brand entertainment programs; and film, advertising, gaming and television licensing. A pioneer in digital music and media services, The Orchard fosters creativity and independence.
The Orchard is a registered trademark and The Orchard logo is a service mark of Orchard Enterprises NY, Inc. All Rights Reserved.
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
Forward Looking Statements
This release may contain certain forward-looking statements regarding The Orchard's expectations regarding future events and operating performance within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ include, but are not limited to, the ability of The Orchard to distribute certain products and artist recordings. Undue reliance should not be placed on such forward-looking statements as they speak only as of the date hereof, and The Orchard undertakes no obligation to update these statements to reflect subsequent events or circumstances except as may be required by law. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in The Orchard's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission.
Earlier This Year, in Deloitte's Fast 50, Orchard Named
Fastest-Growing Company in New York, and #2 Across Broader New York -
New Jersey - Connecticut Geographies
