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Time Spot NAMED TO DELOITTE TECHNOLOGY FAST 500
TEMPE, Ariz., November 15, 2004 ? For the second consecutive year, Deloitte Touche USA has named Time Spot, Inc. (OTCBB:TMAM) , a leading provider of time and labor management solutions, as one of the 500 fastest growing technology companies in North America, in its 2004 North America Technology Fast 500 list.
The North America Technology Fast 500, founded in 1995, is a program of Deloitte's Technology, Media & Telecommunications (TMT) Group. The Fast 500 recognizes the 500 fastest-growing technology companies in the United States and Canada. Winners are selected from nominations and extensive research and announced each fall.
?Market demand for Time Spot?s automated labor management solutions, continues to expand at a fast pace which is reflected in our growth of 472 percent over the past five years,? said Thomas Bednarik, president and CEO of Time Spot. Mr. Bednarik cited several reasons for the company?s consistent growth including:
? Time Spot?s focus on entering into new reseller relationships, which are driving significant revenue growth and continuing to provide the bulk of the company?s revenue;
? The company?s continued expansion within its traditional partner markets of Payroll, Human Resources and Professional Employer Organizations, combined with a shift in its partner base to include Human Resource Outsourcers, Staffing and Temporary Employment organizations; and
? Steady increases in the company?s sales of its 100 percent Web-based NETtime product for both licensed and hosted models.
Winners of the 2004 North America Technology Fast 500 are selected based on the percentage of growth in revenues from 1999 to 2003. To be considered, Fast 500 and Fast 50 entrants must meet the following criteria: 1999 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada respectively; 2003 operating revenues must be at least $1 million USD or CD; be a public or private company headquartered in North America in business a minimum of five years; and must be a "technology company," which is defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas?audit, tax, consulting and financial advisory services?and serves more than half of the world?s largest companies, as well as large national enterprises, public institutions, locally important clients and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other?s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names ?Deloitte,? ?Deloitte & Touche,? ?Deloitte Touche Tohmatsu,? or other related names.
About Time Spot, Inc.
Time Spot, Inc. (TMAM.OB) has been providing innovative time and labor management solutions for over 17 years. By leveraging innovative technology, our family of software and hardware solutions helps organizations track and transform basic labor data into strategic information that improves workforce productivity and the utilization of labor resources. Time Spot solutions are used by more than 20,000 companies worldwide including ARAMARK Corporation, the University of Southern California, Thrifty Rental Car, the Texas Legislative Council and the Mesa Air Group.
NETtime is a registered trademark of Time Spot, Inc. All other names are the property of their respective owners.
Forward Looking Statements
Certain information and comments contained in this press release may be forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Factors set forth in the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004, and subsequently filed form 10-QSB?s, together with other factors that appear in this press release or in the Company's other Securities and Exchange Commission filings could affect the Company's actual results and could cause the Company's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of the Company, in this press release.
Note: For a complete list of the Deloitte Technology Fast 500 winners for 2004 (and past years), visit www.fast500.com.
For Time Spot, Inc.
Kristen Massaro / Yin Chang
KCSA Public Relations
(212) 896-1225/ (212) 896-1228