PR CONTACTS:
W. Kirk Hankins (CEO & Chairman) and Lorin Krueger (Sr. VP)
Winland Electronics, Inc.
1950 Excel Drive
Mankato, Minnesota 56001
(507) 625-7231
FOR IMMEDIATE RELEASE
WINLAND ELECTRONICS A WINNER IN THE FIRST ANNUAL MINNESOTA TECHNOLOGY FAST 50
MANKATO, Minn., September 28, 1998: Winland Electronics, Inc.(NASDAQ SmallCap: "WLET") has been named to Deloitte & Touche's prestigious Minnesota Technology Fast 50, a ranking of the 50 fastest-growing technology companies in the state. Rankings are based on the non-compounded percentage of growth in revenues from 1993-1997.
Winland Electronics increase in revenue of 212 percent over the five-year period of 1993 to 1997 resulted in a 32 ranking overall in the Minnesota Technology Fast 50. The average increase in revenues among companies who made the Fast 50 for this region was 657 percent. National average for all 19 regions that held a 1998 Fast 50 program was 1,442 percent.
Winland Electronics CEO W. Kirk Hankins credits a rapidly expanding market for electronic design and manufacturing services and the Company's ability to respond to OEM customer needs by providing advanced technology solutions and exceptional service. These two factors combined with the expertise and dedication of our employees has resulted in the company's 212 percent revenue growth over the past five years. He said, "To respond to customer needs we continue to develop advanced technology, invest in new equipment, and educate our employees because we recognize that our success is attributable to their expertise and dedication."
"To make the Fast 50 is a phenomenal achievement, and we at Deloitte &Touche congratulate Winland Electronics for its incredible growth, and for the determination, creativity and hard work it took to get to this point," said audit partner Ron Hafner, who chaired the program for the Minneapolis office.
To qualify for the Fast 50, companies must have had revenues of at least $50,000 in 1993; must be public or private companies headquartered in the region; and be "technology companies" defined as companies that produce technology, manufacture a technology product, are technologically intensive, use technology in problem-solving, or devote a high percentage of effort to research and development of technology.
Winners of the 19 regional Fast 50 programs in the United States are automatically entered in the Deloitte & Touche Technology Fast 500 program, which ranks the nation's top 500 fastest-growing technology companies. The winners of the Fast 500 will be announced in the November 30, 1998 issue of Forbes ASAP.
Winland Electronics, Inc. is a leading full-service provider of custom electronic controls and assemblies. The Company responds to OEM customer needs by providing a mix of value-added services that go beyond traditional contract manufacturing. The full range of services provided by Winland include product design, value engineering, manufacturing engineering, testing, warranty repair, shipping and warehousing. Winland prides itself on providing a one-stop full-service solution.
Deloitte & Touche, one of the nation's leading professional services firms, provides accounting and auditing, tax, and management consulting services through 23,000 people in offices in more than 100 U.S. cities. Deloitte & Touche is part of Deloitte " Touche Tohmatsu, a global leader in professional services with more than 72,000 people in more than 125 countries.
| # | # | # |
(507) 625-7231 (800) 635-4269
FAX: (507) 387-2488
Contact Information
Web weaver: VoyageurWeb