HAMPTON, Va., Sept. 16, 2013 (GLOBE NEWSWIRE) -- Measurement Specialties, Inc. (Nasdaq: MEAS ), (the "Company"), a global designer and manufacturer of sensors and sensor-based systems, announced today that it has been named to Fortune's list of 100 fastest-growing companies.
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The Company was ranked No. 89 based on three-year average growth rates in revenue (20 percent), profit (42 percent) and total share price return (50 percent).
To qualify for the list a company's stock must be traded on a major U.S. stock exchange, have a minimum market capitalization of $250 million and a stock price of at least $5, have revenue and net incomes of at least $50 million and $10 million, respectively, and have posted an annualized growth in revenue and earnings per share of at least 20 percent annually over the three years ended on or before April 30, 2013.
Companies are ranked by revenue growth rate, earnings per share growth rate and three-year annualized total return for the period ended June 28, 2013. The overall rank is based on the sum of the three ranks. Once the 100 companies are identified, they are then re-ranked within the 100 using the three equally weighted variables.
Frank Guidone, Company CEO commented, "Making Fortune's list is great recognition for our progress and success expanding our technology portfolio and global reach within the sensor market, which has allowed us to drive exciting growth in sales and earnings, along with value for shareholders."
About Measurement Specialties : Measurement Specialties, Inc. (MEAS) designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics such as pressure, temperature, position, force, vibration, humidity and photo optics. MEAS uses multiple advanced technologies – piezo-resistive silicon sensors, application-specific integrated circuits, micro-electromechanical systems ("MEMS"), piezoelectric polymers, foil strain gauges, force balance systems, fluid capacitive devices, linear and rotational variable differential transformers, electromagnetic displacement sensors, hygroscopic capacitive sensors, ultrasonic sensors, optical sensors, negative thermal coefficient ("NTC") ceramic sensors, mechanical resonators and submersible hydrostatic level sensors – to engineer sensors that operate precisely and cost effectively.
This release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases as "should", "intends", " is subject to", "expects", "will", "continue", "anticipate", "estimated", "projected", "may", " believe", "future prospects", or similar expressions. Factors that might cause actual results to differ materially from the expected results described in or underlying our forward-looking statements include: Conditions in the general economy, including risks associated with the current financial crisis and worldwide economic conditions and reduced demand for products that incorporate our products; Competitive factors, such as price pressures and the potential emergence of rival technologies; Compliance with export control laws and regulations; Fluctuations in foreign currency exchange and interest rates; Interruptions of suppliers' operations or the refusal of our suppliers to provide us with component materials, particularly in light of the current economic conditions and potential for suppliers to fail; Timely development, market acceptance and warranty performance of new products; Changes in product mix, costs and yields; Uncertainties related to doing business in Europe and China; Legislative initiatives, including tax legislation and other changes in the Company's tax position; Legal proceedings; Compliance with debt covenants, including events beyond our control; Conditions in the credit markets, including our ability to raise additional funds or refinance our existing credit facility; Adverse developments in the automotive industry and other markets served by us; and risk factors listed from time to time in the reports we file with the SEC. The Company from time-to-time considers acquiring or disposing of business or product lines. Forward-looking statements do not include the impact of acquisitions or dispositions of assets, which could affect results in the near term. Actual results may differ materially. The Company assumes no obligation to update the information in this release.
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Company Contact: Mark Thomson, CFO, (757) 766-4224
