Fast 50 clarification
The compound annual growth rate used to rank the 2007 Fast 50 was incorrectly calculated.
The mistake affects the CAGR number, but the order of the rankings does not change.
The formula to calculate CAGR is as follows: CAGR = (FV/PV)1/n ? 1. 1/n is an exponent. For the Fast 50, PV is revenue for 2006; FV is revenue for 2002; and N is 4.
Unfortunately, we used 5 for N, which gave all the companies a lower number for their CAGR.
The numbers are correct on our Web site. http://www.washingtontechnology.com/smallbusiness/fast50/2007/ However, the Sept. 17 issue print edition of Washington Technology will contain the incorrect CAGR figures. The mistake was discovered after the issue went to press.
However, the rankings of the companies in print is correct, because the same mistake was made in calculating the CAGR for all the companies.
A chart with the correct numbers will appear in the Oct. 1 issue of Washington Technology.
We deeply regret this error and any confusion it may cause.