Award-winning aviation-technology company Phitek Systems has been placed third in the Technology Investment Network (TIN) 100+ Ten Hot Emerging Companies.
The TIN100 publishes quantitative research each year which measures the performance of New Zealand’s 200 largest globally-focused companies in the hi-tech manufacturing, biotech and ICT sectors.
Each company is surveyed throughout the year with questions relating to business structure, key products, revenue, expenditure, employee, sales and company data.
To gain greater understanding and qualitative content for the report, a wide range of CEOs and other senior executives are also interviewed during the process.
“The value of the TIN100 Report is that it creates transparency for the performance of the NZ technology sector, and enables investors to identify high growth companies to potentially engage with,” says Managing Director of Technology Investment Network, Greg Shanahan.
The two categories in the report include the ‘TIN100 EY Ten Companies to Watch’ and the ‘TIN100+ Ten Hot Emerging Companies’.
The TIN100 EY list includes technology companies with the biggest dollar value revenue growth in 2014, which ranges from NZ$14 million to NZ$1 billion. The Tin100+ includes those businesses with revenue from NZ$2 million to NZ$14 million.
Phitek was placed third in the TIN100+ Hot Emerging Companies, with revenue growth of $3.4 million in the financial year.
“Coming so soon after our exporter of the year award, this listing is further recognition of Phitek’s ability to deliver top-quality electronic products in a competitive aviation market,” says Phitek CEO, Roy Moody.
2014 marks the tenth year of publication for the TIN 100 Report. The full report for 2014 including details of the top 100 companies and analysis of the different sectors, will be released on the 22nd of October this year.
About Phitek
Phitek is the world’s leading supplier of electronic innovations in noise-cancellation, audio enhancement and other electronic touch points in the aircraft cabin.
Phitek’s proprietary active noise cancellation technology is now specified by major airlines and sourced by all of the major manufacturers of in-flight entertainment systems.
Phitek Systems has also achieved double top-honours at this year’s Auckland Export Awards. Phitek edged out four other high-growth companies in two fiercely contested categories, to emerge as the winner of both ‘Exporter of the Year’ – Total sales under NZD $25 million and ‘Commercialisation of Innovation for Export’.