NEW YORK, August 12, 2009 — Inc. magazine today ranked Kitware, Inc. NO. 3330 on its third annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy-America’s independent-minded entrepreneurs. Consumer electronics maker Vizio, Internet giant GoDaddy, rental car service Zipcar, and beverage maker Honest Tea are among the prominent brands featured on this year’s list.
“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”
“We are pleased to be again named to the Inc. 5000, especially in this time of financial challenge. We are especially proud to be hiring talented individuals and contributing to the Nation’s economy,” said Kitware President and CEO, Will Schroeder.
The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
This year’s list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, Insurance ranked as the top industry overall. Government Services was the top industry gainer with 252 companies on this year’s list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
The Hottest Regions for Fast-Growing Companies
Once again, California tops the Inc. 5000 with the most companies of any state with 612. The Golden State is followed by Texas (393), New York (316), Florida (263), and Virginia (261). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year’s list.
New York boasts 371 Inc. 5000 companies, making it the top metropolitan area, followed by Washington, D.C. (317), Los Angeles (253), Atlanta (209), and Chicago (203).
The Inc. 5000 at a Glance
Bolstered by this year’s No. 1 company, Northern Capital Insurance, Insurance emerged as the top industry, with an average growth rate of 667 percent. Other strong performers include Energy (523 percent) and Government Services (491 percent).
In total, the companies on the Inc. 5000 have created more than 1 million jobs. Health is the top employer with 156,223 jobs, followed by Business Products & Services (122,911), IT Services (89,632), Food & Beverage (86,572), and Construction (65,494).
IT Services had the most companies on this year’s list with 658, followed by Business Products & Services (502), Advertising & Marketing (398), Construction (354), and Manufacturing (342).
Topping this year’s list is Northern Capital Insurance, a Miami-based firm that is helping to revolutionize Florida’s ailing insurance industry. The company generated $95 million in revenue in 2008 and an impressive three-year growth rate of 19,812 percent.
The top woman-owned company is P3S (No. 17 overall), a San Antonio-based firm that provides IT network security and physical security services, mostly to the Defense Department. P3S, owned by Mary Ellen Trevino, recorded revenue of $13.5 million in 2008 and a three-year growth rate of 5,898 percent. The top minority-owned company is Harley Stanfield (No. 3 overall), a Washington, D.C.-based real estate investment firm that buys existing properties, makes them energy efficient, and then resells them as investment properties. Harley Stanfield, founded by Cedric Franklin, posted revenue of $38.4 million in 2008 and a three-year growth rate of 13,350 percent.
The Inc. 5000 posted an aggregate revenue of $214 billion in 2008, up nearly 16 percent from the previous year. The top five industries by total revenue include Health ($22.7 billion), Business Products & Services ($19.6 billion), Construction ($18.8 billion), Energy ($14.7 billion), and IT Services ($13.2 billion).
The Top 10 Inc. 5000 Companies Ranked by Growth
|Rank||Company||Location||Industry||Year Founded||Three-Year Revenue Growth||2008 Revenue|
|No. 1||Northern Capital Insurance||Miami||Insurance||2003||19,812.2%||$95M|
|No. 2||National Retirement Partners||San Juan Capistrano, California||Financial Services||2003||13,416.4%||$47.4M|
|No. 3||Harley Stanfield||Washington, D.C.||Real Estate||2003||13,350.3%||$38.4M|
|No. 4||Perfect Fitness||Mill Valley, California||Consumer Products & Services||2002||12,749.3%||$63.5M|
|No. 5||IntegraClick||Sarasota, Florida||Advertising & Marketing||2002||12,654.4%||$96.4M|
|No. 6||Kiva Systems||Woburn, Massachusetts||Logistics & Transportation||2003||10,399%||$21.4M|
|No. 7||Freedom Health||Tampa||Insurance||2004||10,035.3%||$182.8M|
|No. 8||One Technologies||Dallas||Advertising & Marketing||2000||9,946.4%||$50.7M|
|No. 9||MediaTrust||New York City||Advertising & Marketing||2004||9,481.1%||$38.3M|
|No. 10||Criterion Systems||Vienna, Virginia||Government Services||2005||8,433.7%||$20.3M|
The Top 10 Inc. 5000 Companies Ranked by Total Revenue
|Overall Rank||Company||Location||Industry||2008 Revenue|
|No. 4606||Hy-Vee||West Des Moines, Iowa||Food & Beverage||$6.2 billion|
|No. 3304||CH2M Hill||Englewood, Colorado||Engineering||$5.6 billion|
|No. 826||Maxum Petroleum||Old Greenwich, Connecticut||Energy||$4.9 billion|
|No. 1178||Lansing Trade Group||Overland Park, Kansas||Business Products & Services||$4.4 billion|
|No. 1710||Medical Management Options||Baton Rouge, Louisiana||Health||$4.4 billion|
|No. 4445||Kingston Technology||Fountain Valley, California||Computer Hardware||$4 billion|
|No. 3771||Brightstar||Miami||Telecommunications||$3.6 billion|
|No. 3474||CoBank||Greenwood Village, Colorado||Financial Services||$2.6 billion|
|No. 4219||Cooper-Standard Automotive||Novi, Michigan||Manufacturing||$2.6 billion|
|No. 4288||IASIS Healthcare||Franklin, Tennessee||Health||$2.1 billion|
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent — not subsidiaries or divisions of other companies — as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.
About Kitware, Inc.
Kitware, Inc. (www.kitware.com) is a leader in the creation and support of open-source software and state of art technology and is one of the fastest growing software companies in the country. By fostering extended, collaborative communities Kitware is able to provide flexible, low-cost visualization, computer vision, medical imaging, data publishing and quality software process solutions to a variety of academic and government institutions and private corporations worldwide. Founded in 1998, Kitware’s team is widely recognized for their major contributions to a variety of open source software systems including the cross-platform build system CMake, the Visualization Toolkit (VTK), the Insight Segmentation and Registration Toolkit (ITK), and the Parallel Visualization System (ParaView).
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.