DATE:September 22, 1999
FROM:
Winland Electronics, Inc.
1950 Excel Drive
Mankato, Minnesota 56001 |
CONTACT:
W. Kirk Hankins, Chairman and CEO
(507) 625-7231 |
FOR IMMEDIATE RELEASE
WINLAND ELECTRONICS A WINNER
IN THE MINNESOTA TECHNOLOGY FAST 50
MANKATO, MN / September 22, 1999 / Winland
Electronics, Inc. (NASDAQ: WLET) has been named to Deloitte
& Touche's prestigious "Fast 50" Program for
Minnesota, a ranking of the 50 fastest-growing technology
companies in the area. Rankings are based on the percentage
of growth in revenues for 1994-1998.
Winland Electronics increase in revenue of
237% over the five year period of 1994-1998 resulted in a
29th ranking overall in the Minnesota Technology Fast 50.
The average increase in revenues among companies who made
the Fast 50 for this region was 683%.
Winland Electronics CEO W. Kirk Hankins realizes
the market for electronic design and manufacturing services
is an expanding market. He states, "The Company's ability
to respond to customer needs by providing advanced technology
solutions and exceptional service has been instrumental to
the companyís success and increased growth. These factors
combined with the expertise and dedication of our employees
has resulted in the company's 237% revenue growth over the
past five years. Increasingly, Winland is being recognized
as a technology leader for its expertise in designing, engineering,
and producing high quality electronic controls. The energy,
enthusiasm, and optimism of our employees has been and continues
to be the most important element to our growth and financial
success."
"Technology as we know it has been
part of our lives for less than 50 years, yet it has become
a part of our everyday existence. We at Deloitte & Touche
salute Winland Electronics, whose leaders had the vision and
whose staff had the capabilities to keep up with the demands
of today's fast-paced technology marketplace," commented
Ron Hafner, Fast 50 program chairperson.
To qualify for the Fast 50, companies must
have had revenues of at least $50,000 in 1994; must be public
or private companies headquartered in the region; and be "technology
companies" defined as a company that produces technology,
manufactures a technology product, is technologically intensive,
uses technology in problem-solving, or devotes a high percentage
of effort to research and development of technology.
Winland Electronics, based in Mankato, MN,
designs and manufactures custom electronic control products
and systems, as well as proprietary products for the security/industrial
marketplace. The company's stock is traded on the NASDAQ Small
Cap Market under the symbol WLET. |