Wayside Technology Group, Inc. Earns Rapid Growth Recognition
Appoints New Vice President of Marketing
SHREWSBURY, N.J.--(BUSINESS WIRE)--
Wayside Technology Group, Inc. (NASDAQ: WSTG), with an annual net income of $3.3 million in 2006 and an earnings per share growth rate (3-year annualized) of 61.09%, has been named to Fortune Small Business magazine's annual "The FSB 100" list of "America's fastest-growing small public companies."
The company was previously ranked #7 on "The FSB 100" list in 2006, and is #40 on "The FSB 100" list for 2007.
"We are delighted to have been recognized by Fortune Small Business magazine for a second consecutive year, and we are proud of the strong financial results we continue to deliver to our shareholders," said Simon F. Nynens, Chairman and CEO of Wayside Technology Group, Inc. "It is an honor to be included on this prominent list once again, and I would like to thank all of our employees for their contribution to this encore recognition."
The company delivered a 3-year annualized return for investors of 35.07%. With a 3-year annualized revenue growth rate of 37.23%, the company is also the second fastest-growing company on the FSB 100 in New Jersey.
Fortune Small Business magazine asked financial research firm Zacks to rank public companies with revenue of less than $200 million and a stock price of more than $1, based on their percentage growth in earnings, revenue, and stock performance over the past three years. Banks and real estate firms were excluded.
The company today also announced the appointment of Richard J. Bevis as vice president of Marketing for the company's three divisions. Bevis joins Wayside with over 20 years of marketing experience in software development, professional services, Internet solutions, and enterprise software.
"Richard is a seasoned software and services marketing leader," said Nynens. "We're excited to have him on our team. We look forward to his contribution to our customer- and partner-driven marketing initiatives, and to the continued success of our organization."
The FSB 100 list will appear in the July/August issue of Fortune Small Business and is available online at http://www.fsb.com/fsb100/2007/.
About Wayside Technology Group, Inc.
Wayside Technology Group, Inc. (NASDAQ: WSTG) was founded in 1982 and is a unified and integrated technology company providing products and solutions for corporate resellers, VARs, and developers, as well as business, government and educational entities. The company generated sales of $182 million in 2006, and was ranked No. 8 on BusinessWeek's list of hot growth companies in June 2006. The company offers technology products from software publishers and manufacturers such as Microsoft, CA, IBM, VMware, Borland, Quest Software, Compuware, Infragistics, ComponentOne, Macrovision, and Adobe.
Additional information can be found by visiting www.waysidetechnology.com.
The statements in this release concerning the Company's future prospects are forward-looking statements that involve certain risks and uncertainties. Such risks and uncertainties include the continued acceptance of the Company's distribution channel by vendors and customers, the timely availability and acceptance of new products, and contribution of key vendor relationships and support programs. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission.
Source: Wayside Technology Group, Inc.
Released July 2, 2007