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The Flying 40 is a selection of the top 40 revenue-generating technology companies in the state of New Mexico. The selection criteria are based on revenue and revenue growth.

ARA Again Tops List of Fastest Growing Tech Companies

For the second consecutive year, Applied Research Associates, Inc. has placed at the top of the New Mexico Technology Flying 40, an annual list of the state's fastest growing technology-based businesses.

ARA ranked number one based on total revenue and, based on a four-year cumulative growth rate of 50 percent, ranked 10th in revenue growth among companies with revenues over $10 million per year. ARA has placed at or near the top of the Flying 40 since 2002, ranking number one in 2007 and 2004, and number two in 2005 and 2006.

Fiscal year 2007 was ARA's 29th consecutive year of growth, with sales over $180 million. The company celebrates its 30th anniversary in February.

"It is an honor to once again be listed among the top revenue producing technology companies in New Mexico, and to be recognized for our growth and success," said ARA President and CEO Rob Sues. "The demand for the solutions that ARA provides remains strong, and we are looking forward to continued growth based on our history of providing high quality and innovative technical work for our customers."

The Flying 40 program rankings are based on revenue and revenue growth, and the 2008 list was determined using the percentage of revenue growth between 2003 and 2007. Those companies selected for the list were honored at an awards luncheon June 12 in Albuquerque, NM.

The program, which is now in its 11th year, is sponsored by KPMG, LLP; New Mexico Bank & Trust; the Albuquerque Journal Business Outlook; and Technology Ventures Corporation.