10/03/03
From staff reports
Huntsville Times
Two Huntsville companies - Morgan Research Corp. and Belzon Inc. - have made Inc. magazine's 22nd annual Inc. 500 list of the fastest-growing private companies in the country.
Two other companies in Alabama - ComFrame Software and Savela & Associates, both in Birmingham - were included in the list. The Inc. 500 special issue will appear on newsstands Oct. 14 and will be on display until January 2004.
Belzon, which provides information technology and consulting services to several Department of Defense agencies, is No. 202 on the Inc. 500 list. Its 2002 revenue was $3 million; growth between 1998 and 2002 was 820 percent.
Morgan Research is No. 393 on the list. Its 2002 revenue was $25.6 million, and the company's growth from 1998 to 2002 was 454 percent.
Belzon executives learned last month that the company would appear on the list, but just found out its ranking earlier this week.
"I was pleasantly surprised. We were higher than I had anticipated we would be," said Rich McAdams, Belzon's president.
Belzon is very selective in hiring employees, McAdams said. "As a result of that, our employees do a fantastic job of taking care of our clients," and customers, in turn, reward that effort.
The 43-employee company was founded in 1994 by Ron Klein, now the chief executive officer.
In the Inc. article, Klein said the company has two rules: "One, you do nothing that endangers our reputation, and two, you tell the truth, in all instances, to everyone."
Sharon and Tim Morgan started Morgan Research in 1988, the day after their honeymoon. The firm, which provides engineering and scientific services relating to microelectrical mechanical systems, microbiology and nanotechnology to the military and NASA, now has 225 employees.
According to the Inc. article, Morgan Research allows every employee, upon hiring, to buy company stock. High performers can buy additional stock as the company grows.
Sharon Morgan, the company's president, said that the firm's goals are to "go above and beyond what the customer expects," have a team of employees who work well together and to give back to the community. "When you have a team focused on those three prongs, it makes it easy to move forward. ... First and foremost, all of the opportunities and talents we've been blessed with come from God."
Morgan Research was No. 266 on the list last year. This is Belzon's first time to make the list.
The Inc. 500 ranks privately held companies based on sales growth over the past five years.
