OnQ honored for making significant contributions to the growth, strength, and success of Central PA region
OnQ Technologies, Inc., the leader in the home networking and structured wiring industry, has been named to the Central Penn Business Journal's prestigious "Top Fifty Fastest Growing Companies" program for Central Pennsylvania, a ranking of the fifty fastest growing companies in the area. Rankings are based on a percentage of growth in revenues from 2000 -2002 (three -year period).
"We are honored to have been recognized as one of Central Pennsylvania's Top 50 Fastest Growing Companies," said Doug Fikse, President of OnQ Technologies. "We are proud of our consistent growth, helped by today's exploding home technology market, and are pleased to have the opportunity to bring key technology jobs to the area."
OnQ Technologies, Inc. occupies prime real estate in today's professionally installed technology marketplace. Beginning with the successful spin -off of OnQ from AMP/TYCO in 1999, OnQ Technologies has grown from a key player in a small market to the recognized leader in the fast paced, developing arena of structured wiring. Structured wiring, loosely defined as voice, video and data in the home, is a residential wiring solution with a penetration of approximately forty percent in new home construction. Of this market, OnQ market share numbers are approximately 40% of total new single and multi family installations. The rapid growth in home networking technologies such as high -speed Internet, satellite, and distributed audio, has lead to the increasing consumer demand for technology products in homes.
Fueled by consumer demand and other hot technology market trends, OnQ Technologies continues to be a driving force behind the growing structured wiring industry, and the preferred home networking brand of builders, installers, and homeowners.
In order to be eligible for nomination in the Top Fifty Fastest Growing Companies program, companies needed to show revenue of at least $500,000 in each of the fiscal years ending 2000, 2001, 2002 and show revenue growth in 2002, as compared to 2000 (three -year period). Nominees were then ranked according to revenue growth over the three -year period of 2000 -2002. Both dollar and percentage increases were taken into consideration.
"The Central Penn Business Journal is proud to recognize such a diverse group of organizations as the 2003 Top Fifty Fastest Growing Companies," said David Schankweiler, Publisher. "It's a great credit to Central PA, despite the economic period we have been through, that so many strong and successful businesses thrive here and contribute immensely to the local economy."
The annual Top Fifty Fastest Growing Companies award is sponsored by the Central Penn Business Journal, Ernst & Young, Waypoint Bank, United Concordia, WHP/WLYH -TV and JPL Productions. The purpose of the Top Fifty competition is to recognize businesses that have made significant contributions to the growth, strength and success of the Central Pennsylvania region.
OnQ Technologies, Inc. is a privately held corporation, headquartered in Harrisburg, PA. The OnQ Home Network System is sold and installed through a nationwide network of OnQ professional installers and distributors. All OnQ products are supported by the award -winning OnQ Professional Installer Program and OnQ Builder Programs. For more information about the full line of OnQ products, call OnQ Technologies at 800 -321 -2343 or visit the OnQ website at www.onqtech.com