BinOptics is named to the 2013 Deloitte Technology Fast 500 list

ITHACA — BinOptics Corp., a manufacturer and supplier of semiconductor lasers for optical connectivity, has been ranked number 167 on the 2013 Deloitte Technology Fast 500 list, according to a news release from Ithaca–based BinOptics.

The Deloitte list is a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and clean technology companies in North America.

BinOptics grew revenue by 678 percent from 2008 to 2012, according to the news release. BinOptics’ co-founder and CEO, Dr. Alex Behfar, credits the growth in optical communications and his company’s ability to seize this opportunity for its rapid revenue growth.

“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” Eric Openshaw, vice chairman of Deloitte LLP and U.S. technology, media, and telecommunications leader, said in the release. “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space.”

The 2013 list of Technology Fast 500 companies achieved revenue growth ranging from 137 percent to 208,897 percent from 2008 to 2012, with average growth of 2,600 percent, the news release noted.

Deloitte’s 2013 Technology Fast 500 list includes both public and private companies in North America. The winners are selected based on percentage fiscal-year revenue growth from 2008 to 2012.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the firm’s operating revenues, according to the release. Businesses must have base-year operating revenues of at least $50,000 (in U.S. or Canadian dollars), and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.

BinOptics says it has shipped about 50 million semiconductor lasers to customers over the years. The firm says it uses its proprietary Etched Facet Technology to manufacture reliable, high-volume, and low-cost lasers.

BinOptics’ technology is based on research originally done at Cornell University. The company is headquartered and performs its manufacturing and research and development in the Cornell Business & Technology Park.

Contact Carbonaro at mcarbonaro@cnybj.com