Feb.10, 2005 – Communication Technologies, a telecom company that threw its hat into the V.I. internet ring when it launched broadband services here in October 2004, has made it onto the prestigious Inc. 500 list.
After scrutinizing the financials of more than 500,000 privately held, independent U.S. companies, Inc. Magazine selects the cream of the crop for inclusion in its annual list of the country's fastest-growing concerns.
According to the Inc.com Web site, COMTek made the cut with annual revenues that saw a 303 percent increase from 1999 to 2003, the period measured for the 2004 list. According to a COMTek statement, the company more than doubled its personnel during the same time period.
Joseph E. Fergus, a native Crucian and COMTek's founder and CEO, said he was pleased and honored to have been included on the list. "This is a real validation for us – a symbol of our commitment to excellence. It will help to fortify our leadership position in the industry," he said in a release.
In making the list, COMTek joins the ranks of global players whose storied names were once unknown. In year's past, upstart outfits like Microsoft, Oracle, E*Trade and Timberland were all listed on the Inc. 500.
And though a spot among the Inc. 500 represents a significant milestone for the company, it is not the first such list COMTek has found itself on. In 2004 the company also earned a place among Black Enterprise Magazine's top 100 industrial and service companies in the nation.
More recently, COMTek was singled out for national attention when Michael Powell, chairman of the Federal Communications Commission, paid a visit to one of the company's stateside operations. Last fall, as the FCC deliberated over rules that would govern a new technology called broadband-over-power-lines, or BPL, Powell went to Manassas, Va., where COMTek had successfully deployed the new internet service. As the name suggests, BPL uses power lines instead of telephone or cable lines to connect subscribers to the Net. (See "COMTek Makes Magazine's Business List" and Internet Connection May Be Through Electric Lines
Fergus, a former senior scientist with Bell Labs, founded COMTek in 1990. In the 15 years since its creation, the company has grow to be a leading provider of global broadband services, telecommunications and information technology and training. COMTek is headquartered in Chantilly, Va., employs more than 900 people and has operations in all 50 states and 15 countries worldwide.
Locally, the company offers several levels of broadband, wireless internet service to suit the needs of residential customers as well as businesses. The company currently provides service to areas in and around Charlotte Amalie, but according to Ginny McAdams, a COMTek spokesperson, service will be available all over the island and on parts of St. John and St. Croix by year's end.
