Canada’s Source of R&D Intelligence
Toronto - June 25, 2002 - Canada's Top 100 Corporate R&D Spenders List 2002 released today by Research Infosource Inc. includes 11 companies headquartered in B.C. companies:
- PMC Sierra Ltd. slips from 6th position in 2000 to 10th place. R&D spending drops by 22.7% in the face of a 45.7% decrease in revenues. (R&D spending 2001: $157 million; 2000: $203 million)
- Creo Inc. moves up four spots from 16th to 12th position from 2000 to 2001.R&D investment keeps pace with increase in revenues. (R&D Spending 2001: $146.7 million; 2000: $96.5 million)
- Ballard Power Systems Inc. drops three places from 18th to 15th. From 2000 to 2001 R&D spending went up by 44.7% while revenues increased by only 36.4%. (R&D spending 2001: $128 million; 2000: $88.5 million)
- QLT Inc. moves down from 30th to 38th .A 163% jump in revenue from 2000 to 2001 netted a 1.9% decrease in R&D expenditures. (R&D spending 2001: $49.9 million; 2000: $50.8 million)
- Stressgen Biotechnologies Corporation moves up 11 spots from 65 to 54. A 30.4% increase in revenues produces a 60.4% jump in R&D spending. (R&D spending 2001: $35.9 million; 2000: $22.4 million)
- Sierra Wireless Inc. climbs from 77th to 61st. Revenues increase by 16.4% while R&D expenditures grow by 82.6%.(R&D spending 2001: $30.8 million; 2000: $16.9 million)
- Pivotal Corporation is new to the list in 64th position. (R&D spending 2001: $29 million; 2000: $13.2 million)
- Inex Pharmaceuticals Corporation drops 3 spots from 79th to 76th .A dramatic 7548.6% increase in revenue netted a mere 38.9% growth in R&D spending. (R&D spending 2001: $21.2 million; 2000: $15.3 million)
- Westport Innovations Inc. moves into 77th position. The company posted a 74.8% drop in revenue and impressive 157.5% increase in R&D spending. (R&D spending 2001: $21 million; 2000: $8.1 million)
- Teck Cominco Limited, at 87th position is new a company resulting from the merger Teck Corporation and Cominco Ltd. (R&D spending 2001: $17 million; 2000: $23 million)
- Angiotech Pharmaceuticals, Inc. breaks into the top 100 at 95. Even a dramatic 75% drop in revenues failed to dampen an impressive 57.3% increase in R&D spending. (R&D spending 2001: $15.1 million; 2000: $9.6 million)
"B.C.'s current government campaigned on a platform that included investing in the knowledge economy", says, Ron Freedman, CEO of Research Infosource Inc. "This year's results show that B.C, firms are up to the challenge."
Canada's leading firms invested $11.9 billion in research and development for fiscal 2001, up a modest 3% overall from $11.5 billion in 2000. However, Nortel Networks poor performance masked a healthy underlying trend, other Top 100 spending rose by 23.3%. Holding 1st place in R&D spending for fiscal 2001 is Nortel Networks ($5 billion), followed JDS Uniphase ($504.6 million) with Pratt and Whitney Canada ($440 million) in 3rd position, Magna International ($359.2 million) is 4th, and Ericsson Canada ($270 million) rounds out the top five.
Breaking the list down by province, 58 of the top 100 companies are headquartered in Ontario, 20 in Québec, 11 in B.C., 10 in Alberta and one in Manitoba. The complete Canada's Top 100 Corporate R&D Spenders List is available on the Research Infosource website, www.researchinfosource.com. An in-depth Corporate R&D Spenders Report 2002, based on over nearly 600 companies, is slated for publication in July 2002.
Research Infosource Inc., a division of The Impact Group, is Canada's source of R&D intelligence. Drawing from an extensive database, Research Infosource Inc. publishes Canada's Top 100 Corporate R&D Spenders List, Canada's Top 50 Research Universities List, and specialized reports.
Information: Ron Freedman, CEO, Research Infosource Inc. (416) 481-7070 ext. 31
Janet Sandor, Director of Communications (416) 802-5526