Kanbay Ranked #9 on BusinessWeek's Top 100 'Hot Growth' Companies
Cover Story Featured in the June 6th Issue of BusinessWeek
ROSEMONT, Ill., May 31 /PRNewswire-FirstCall/ -- Kanbay International, Inc. (Nasdaq: KBAY), a global IT services firm focused on the financial services industry, has been ranked #9 on BusinessWeeks' 2005 "Hot Growth" list of America's 100 best small companies.
To craft its annual "Hot Growth" list, BusinessWeek examines more than 2,200 publicly traded companies with annual revenues between $50 million and $1.5 billion. Companies are ranked by sales and earnings growth, as well as return on capital over the past three years.
According to BusinessWeek, "As initial public offerings go, Google was the biggie in 2004. But Kanbay International quietly hit the market with its own impressive offering as well. Its bang-up numbers make Kanbay one of the few in the outsourcing biz that's growing fast while also maintaining profitability."
"Since Kanbay was founded in 1989, we have had a very successful track record providing high-value IT services to the financial services industry," said Raymond Spencer, Chief Executive Officer of Kanbay. "Last year was no different - it was a year of strong growth and milestones for Kanbay, highlighted by our very successful initial public offering in July and secondary offering later in the year. Being named in the top ten of BusinessWeek's best small companies in America is a great validation of our business model and a tribute to the over 4,000 Kanbay associates around the globe."
BusinessWeek's "Hot Growth" list is the cover story of the June 6th issue, available on newsstands Monday, May 30th. BusinessWeek's company snapshot of Kanbay is available in the print edition and on the web at http://www.businessweek.com/hot_growth/2005/company/KBAY.htm.
About Kanbay International, Inc.
Founded in 1989, Kanbay International, Inc. (Nasdaq: KBAY) is a global IT services firm focused on the financial services industry. With over 4,000 associates, Kanbay provides its services primarily to banking institutions, insurance companies, credit service companies and capital markets firms. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, network and system security, and specialized services. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in the U.S., Canada, U.K., Australia, Hong Kong, Japan, Singapore and India.
Forward-Looking Statements
This press release may contain statements, which are forward-looking statements under the federal securities laws. Any forward-looking statements represent our views only as of the date of this press release, and such forward-looking statements should not be relied upon as representing our views as of any subsequent date. These statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this press release. For a discussion of important factors that could affect our actual results, please refer to our SEC filings, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the most recently ended fiscal year.
