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Ontario Firms Hold 5 of the Top 10 Positions on Canada's Top 100 Corporate R&D Spenders List 2005
Toronto - October 18, 2005 - Ontario-based firms maintained their hold on 5 of the top 10 spots on Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc.
#1 - Nortel Networks Corporation remains the top corporate R&D spender again this year with $2.5 billion in Fiscal 2004. Their spending continued to decline (-7.2%), however, this is in fact an improvement over their -20.4% decrease last year. Their revenue also decreased in 2004 by -10.5% to $12.8 billion.
#3 - Magna International Inc. held steady at #3 with a 9.4% increase in R&D spending to $689.8 million, and an impressive revenue increase of 25.0%, bringing their revenue to $26.9 billion in Fiscal 2004.
#5 - ATI Technologies Inc. still in 5 position with $389.1 million in R&D spending in 2004, an increase of 18.3%. Their revenue also increased by 33.9% to $2.6 billion.
#6 - IBM Canada Ltd. also maintained their rank from last year. Both their R&D expenditures and revenue increased modestly between Fiscal 2003 and Fiscal 2004 by 3.6% and 4.3% respectively. Their R&D expenditures were $334 million in 2004.
#10 - Alcatel Canada Inc. ranked 10th this year with R&D spending of $190 million.
Following two years of decline, signs are that corporate spending on research and development (R&D) began to recover in Fiscal 2004. Canada's top corporate R&D companies invested $11.3 billion in R&D activities in Fiscal 2004, an increase of 3.0% over Fiscal 2003. This rebound comes after a two-year downturn in R&D spending. In Fiscal 2004, 62 of the Top 100 companies increased their R&D expenditures. In Fiscal 2003, less than half (45 firms) increased their R&D investment.
Regionally, the 43 companies headquartered in Ontario accounted for just over half (55%) of all R&D spending with $6.2 billion. This represented a very slight decrease from 2003 (-0.3%). Quebec's 31 companies spent $3.86 billion in Fiscal 2004, up 5.2% over 2003. This represented 34% of total R&D expenditures. The 14 British Columbia-based firms invested $794 million, an increase of 6.1% and which represented 7% of the total. The 9 Alberta firms accounted for $389.6 million or 3% of Top 100 spending and posted the largest regional increase of 33.1% over 2003. Removing Nortel Networks from the Ontario calculations, 42 companies invested $3.6 billion, 42% of the total, an increase of 5.1%.
"Ontario firms without Nortel Networks increased their spending by 5.1%. This represents a positive trend that bodes well for the future", said Ron Freedman, CEO of Research Infosource Inc.
Ontario companies accounted for 10 of the 21 companies that qualified for Research Infosource's $100 Million Club (companies that spent $100 million or more on R&D in Fiscal 2004): Nortel Networks, Magna International, ATI Technologies, IBM Canada, Alcatel Canada, Apotex, Atomic Energy of Canada, GlaxoSmithKline, Cognos and MDS.
The complete Canada's Top 100 Corporate R&D Spenders List 2005 is available on the Research Infosource website, www.researchinfosource.com. An in-depth Canada's Top Corporate R&D Spenders Report 2005, based on over 650 companies, is slated for publication later this year. 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.
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Information: Ron Freedman, CEO, Research Infosource Inc. (416) 481-7070 ext. 31
Janet Sandor, Director of Communications (416) 481-7070 ext. 25
Toronto - October 18, 2005 - Ontario-based firms maintained their hold on 5 of the top 10 spots on Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc.
#1 - Nortel Networks Corporation remains the top corporate R&D spender again this year with $2.5 billion in Fiscal 2004. Their spending continued to decline (-7.2%), however, this is in fact an improvement over their -20.4% decrease last year. Their revenue also decreased in 2004 by -10.5% to $12.8 billion.
#3 - Magna International Inc. held steady at #3 with a 9.4% increase in R&D spending to $689.8 million, and an impressive revenue increase of 25.0%, bringing their revenue to $26.9 billion in Fiscal 2004.
#5 - ATI Technologies Inc. still in 5 position with $389.1 million in R&D spending in 2004, an increase of 18.3%. Their revenue also increased by 33.9% to $2.6 billion.
#6 - IBM Canada Ltd. also maintained their rank from last year. Both their R&D expenditures and revenue increased modestly between Fiscal 2003 and Fiscal 2004 by 3.6% and 4.3% respectively. Their R&D expenditures were $334 million in 2004.
#10 - Alcatel Canada Inc. ranked 10th this year with R&D spending of $190 million.
Following two years of decline, signs are that corporate spending on research and development (R&D) began to recover in Fiscal 2004. Canada's top corporate R&D companies invested $11.3 billion in R&D activities in Fiscal 2004, an increase of 3.0% over Fiscal 2003. This rebound comes after a two-year downturn in R&D spending. In Fiscal 2004, 62 of the Top 100 companies increased their R&D expenditures. In Fiscal 2003, less than half (45 firms) increased their R&D investment.
Regionally, the 43 companies headquartered in Ontario accounted for just over half (55%) of all R&D spending with $6.2 billion. This represented a very slight decrease from 2003 (-0.3%). Quebec's 31 companies spent $3.86 billion in Fiscal 2004, up 5.2% over 2003. This represented 34% of total R&D expenditures. The 14 British Columbia-based firms invested $794 million, an increase of 6.1% and which represented 7% of the total. The 9 Alberta firms accounted for $389.6 million or 3% of Top 100 spending and posted the largest regional increase of 33.1% over 2003. Removing Nortel Networks from the Ontario calculations, 42 companies invested $3.6 billion, 42% of the total, an increase of 5.1%.
"Ontario firms without Nortel Networks increased their spending by 5.1%. This represents a positive trend that bodes well for the future", said Ron Freedman, CEO of Research Infosource Inc.
Ontario companies accounted for 10 of the 21 companies that qualified for Research Infosource's $100 Million Club (companies that spent $100 million or more on R&D in Fiscal 2004): Nortel Networks, Magna International, ATI Technologies, IBM Canada, Alcatel Canada, Apotex, Atomic Energy of Canada, GlaxoSmithKline, Cognos and MDS.
The complete Canada's Top 100 Corporate R&D Spenders List 2005 is available on the Research Infosource website, www.researchinfosource.com. An in-depth Canada's Top Corporate R&D Spenders Report 2005, based on over 650 companies, is slated for publication later this year. 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) 481-7070 ext. 25