Nu
Horizons Electronics Corp. Named One of Long Island's Fastest Growing Technology
Companies in Deloitte Technology Fast 50 Program
Melville, NY -
January 19, 2005 - Nu Horizons Electronics Corp. (NASDAQ:NUHC), a leading
distributor of high technology active components, has been named to Deloitte &
Touche US LLP's prestigious Technology Fast 50 Program for Long Island; a ranking
of the 50 fastest growing technology companies in the area by Deloitte & Touche
USA LLP, one of the nation's leading professional services firms. Rankings are
based on the percentage of growth in fiscal year revenues over five years, from
1999-2003.
"Long
Island Fast 50 companies have shown demonstrated success despite a very challenging
technology environment," said Adam Weisman, a partner of Deloitte & Touche
LLP's technology, media and telecommunications practice, and chairperson of the
2004 Long Island Technology Fast 50. "We applaud the successes of Nu Horizons
and acknowledge their place as one of the very few to accomplish such rapid growth."
Arthur
Nadata, president and CEO of Nu Horizons Electronics adds, "We are quite
pleased to receive this distinguished award from Deloitte & Touche. During
a period in our industry when companies often do not succeed, achieving this ranking
is a testament of the fortitude and dedication of our global personnel, in addition
to the technologically advanced products and solutions we offer to our customers."
To qualify for the Technology Fast 50, companies must have had operating revenues
of at least $50,000 in 1999 and $1,000,000 in 2003; must be public or private
companies headquartered in North America; and be a "technology company"
defined as owning proprietary technology that contributes to a significant portion
of the company's operating revenues; and/or devoting a significant portion of
revenues to research and development of technology.
About
Nu Horizons Electronics Corp.
Nu Horizons is a leading global distributor
of high technology active components, including analog, clock and timing devices,
communications, computer products, discretes, flat panel display solutions, interface,
logic, memory, microcontrollers and microprocessors, opto electronics and power,
to a wide variety of commercial original equipment manufacturers (OEMs). With
sales facilities in thirty-seven locations across North America and Asia, and
logistics centers in centralized locations throughout the globe, Nu Horizons partners
with a limited number of best-in-class suppliers to provide in-depth product and
solutions expertise to its customers. Information on Nu Horizons and its services
is available at http://www.nuhorizons.com.
About
Deloitte
In the U.S., Deloitte & Touche LLP is the member firm of Deloitte
Touche Tohmatsu, and services are provided by subsidiaries of Deloitte & Touche
USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP,
and their subsidiaries) and not by Deloitte & Touche USA LLP. The subsidiaries
of the U.S. member firm are among the nation's leading professional services firms,
providing audit, tax, consulting, and financial advisory services through nearly
30,000 people in more than 80 cities. Known as employers of choice for innovative
human resources programs, they are dedicated to helping their clients and their
people excel. For more information, please visit the U.S. member firm's website
at www.deloitte.com/us.
Except for historical information contained herein, the matters set forth in this news
release are forward looking statements that involve certain risks and uncertainties
that could cause actual results to differ from those in the forward-looking statements.
Potential risks and uncertainties include such factors as the level of business
and consumer spending for electronic products, the amount of sales of the Company's
products, the competitive environment within the electronic component industry,
the ability of the Company to continue to expand its operations, the level of
costs incurred in connection with the Company's expansion efforts and the financial
strength of the Company's customers and suppliers. Investors are also directed
to consider other risks and uncertainties discussed in documents filed by the
Company with the Securities and Exchange Commission.
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