United Therapeutics of Silver Spring and WebMethods of Fairfax were named Maryland's and Virginia's fastest-growing technology companies in a Deloitte Touche poll that ranks companies based on their percentage of revenue growth.
Alabanza of Baltimore ranked second on the Maryland list, followed by Catapult Technology of Bethesda, Avatech Solutions of Owings Mills and Orizon of Rockville.
The second-fastest-growing firm in Virginia was Object Sciences of Alexandria, followed by Sterling-based Allen Corp. of America, Payerpath of Richmond and Paloma Systems of Annandale.
The awards, announced last week at a reception in the basement of the downtown Washington sports-themed restaurant ESPN Zone, do not consider profitability or employee growth. But many of the 250 techies in attendance said the accounting firm's list is welcome recognition and a moralebooster for workers.
United Therapeutics, a biotech company, was ranked second on last year's Maryland list, which was topped by Advertising.com, a Baltimore company bought by AOL for $435 million in June. WebMethods, a business software company, topped last year's list for Virginia, too.
CompuDyne of Annapolis, a maker of security products, said it is likely to have a "modest" loss this year, instead of the modest profit it had predicted earlier. The company said it had larger than anticipated losses on several projects and delays in contract awards, which will push a turnaround into next year. But the company said 2005 "continues to look quite promising for our business and should see a recovery in our earnings."
Marshall Management of Salisbury, a leading mid-sized hotel manager, signed seven new management contracts, raising to 15 the number of hotels Marshall Management has been selected to manage this year. Six of the seven hotels are in North Carolina and the Midwest and are owned by Independent Property Operators of America, a real estate investment group. The seventh property -- a Holiday Inn Express under construction in Kent, Ohio -- is owned by a private investment group and is expected to open in April.
The Greater Baltimore Committee said the Baltimore region could add more than $5 billion in annual sales and create 32,000 jobs if the number of minority- and women-owned businesses relative to the population were in proportion to other regions of its size. The group released the estimates by a consultant it hired as part of its "Bridging the Gap" initiative, an ongoing program to build a unified business community in the region.
OPNET Technologies of Bethesda, a leading provider of management software for networks and applications, completed the $3.5 million acquisition of Altaworks of Nashua, N.H. Altaworks becomes a wholly owned subsidiary of OPNET.
TV One, the Silver Spring cable channel, agreed with Charter Communications to make the new network for African American adults available on Charter's Los Angeles-area cable systems as well as the company's St. Louis cable system.
Mills of Arlington announced 23 initial tenants, including Circuit City, Virgin Megastore, House of Blues, Borders Books & Music and a Ferris wheel at Meadowlands Xanadu, the big mall, hotel and office complex it is building in the New Jersey Meadowlands complex near New York City. The tenants represent more than 1 million square feet of gross leasable area and account for almost half the total space being committed.
MeriStar Hospitality of Arlington, one of the nation's largest hotel real estate investment trusts, acquired a 49.99 percent interest in the landmark 705-room Radisson Lexington Hotel in midtown Manhattan for $50 million, which it said would provide a $5.75 million cumulative annual preferred return. The 28-story landmark hotel was built in 1929 and has 82 suites, 101 deluxe rooms and 522 standard rooms.
Quality Restaurant Ventures of Heathrow, Fla., and Famous Food Group said Famous Uncle Al's Hot Dogs plans to expand in Virginia. The owners will contact potential franchisees on a waiting list for locations in the Hampton Roads and Tidewater areas. "Famous" Uncle Al Stein, founder of the hot dog chain, said he was pleased. Besides several locations in the Virginia Beach area, Famous Uncle Al's Hot Dogs has four stores in Florida, with several development deals signed and three additional stores currently under construction.