Inc. magazine ranks 4 local firms at top for growth
Private companies credit employees, clients for success
Wednesday, October 19, 2005
Four Huntsville companies are included in Inc. magazine's 24th annual Inc. 500 ranking of the fastest-growing private companies in the country.
The companies are Radiance Technologies Inc., Intuitive Research and Technology Corp., 3D Research Corp. and Solid Earth Inc.
Radiance Technologies ranks No. 148 on the list this year, up from No. 214 last year.
"I'm delighted for our people because it shows the results of their hard work over the last five years," said Dr. George M. Clark, president of Radiance Technologies. The firm, which specializes in systems engineering and technology development of military products, had $35 million in revenue for 2004, and experienced 701.7 percent growth over a three-year period through 2004.
Another Huntsville company making the list again is the real-estate software firm Solid Earth Inc., with a ranking of No. 482.
"I'm thrilled, of course," said company president Matt Fowler, "and I'm thankful to all our customers who helped put us there."
Solid Earth, with $4.1 million in revenue in 2004, showed a three-year growth of 299.1 percent. It was ranked at No. 308 on last year's list.
Harold Brewer, vice president of Intuitive Research, said being on the list is an honor for the company and a tribute to its employees and customers. Intuitive, an engineering and analytical services firm, has been able to recruit and retain "unsurpassed" workers, Brewer said. "Huntsville is a good place to do business now," he said.
Intuitive is No. 157 on this year's list, and was ranked 75th last year. Its 2004 revenue reached $7.9 million, and its three-year growth rate was 676.3 percent.
3D Research is No. 378 on the list. It had a 362.6 percent three-year growth rate and $14.9 million in revenue last year.
Lisa Williams, president of 3D Research, said making the Inc. 500 list a second time "further validates that what we're doing is the right thing in business.
"The risk we all take in business is worth it when you receive validation," and recognition like being named to the Inc. 500, Williams said.
Seven companies in all from Alabama made the list this year. The other Alabama firms are Xpress Source of Dothan, No. 47; Newcastle Construction of Bessemer, No. 439; and Information Transport Solutions of Wetumpka, No. 183.
To be eligible for this year's Inc. 500, companies had to be U.S.-based, independent and privately held through their fiscal year 2004, and have had at least $500,000 in net sales in the base year of 2001. Also, 2004 sales had to exceed 2003 sales. Companies are ranked on cumulative three-year sales growth from 2001 to 2004.
The Inc. 500 can be found in the November issue, which appears on newsstands Nov. 1.
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