Attributes 133% Percent Revenue Growth to a commitment to excellence.
Buena, New Jersey, October 19, 2011 — IGI Laboratories, Inc. today announced it ranked 23rd on Deloitte’s 2011 Greater Philadelphia Fast 50 ranking of the 50 fastest growing technology, media, telecommunications, life sciences and clean technology companies in the Greater Philadelphia region. IGI Laboratories grew 133 percent during this period.
IGI’s chief executive officer, Charlie Moore credits a dedicated workforce and strong leadership with the company’s 133% revenue growth. He said, “At IGI we have a clear vision for success and a talented team driving us forward.”
“IGI Laboratories, like all 2011 Greater Philadelphia Fast 50 companies, have excelled in fostering innovation and channeling it into spectacular growth -- against the backdrop of one of the most challenging economies in history,” said Tara L. Weiner, managing partner, Greater Philadelphia region, Deloitte LLP. "Deloitte recognizes IGI for its remarkable accomplishment.”
About Deloitte’s 2011 Greater Philadelphia Fast 50
The 2011 Greater Philadelphia Fast 50, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in the Greater Philadelphia region. 2011 Greater Philadelphia Fast 50 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010.
In order to be eligible for 2011 Greater Philadelphia Fast 50 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of five years, and be headquartered within the Greater Philadelphia region.
About IGI Laboratories, Inc.
IGI Laboratories is focused in the development and commercialization of products for the dermatology market.
IGI Laboratories, Inc. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release that are not historical facts and statements identified by words such as " will," "possible," "one time," "provides an opportunity," "continue" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in IGI Laboratories, Inc.’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.’s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
