Inc. magazine lists Vixel as one of the top 500 fastest growing companies in the nation. This is from the local paper. Instead of listing the link (it seems to expire fairly quickly) here is the whole article. Karl.
Inc. magazine ranks 5 Eastside companies among nation's fastest growing
Saturday, November 13, 1999
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By Clayton Park
Journal Business Editor
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BELLEVUE -- Ten Washington state businesses, including five on the Eastside, have made this year's Inc. magazine list of the nation's 500 fastest growing private companies, based on net sales over the past five-years.
The Washington companies, the cities they are based in, and their ranking in the Inc. 500 list are as follows: Intuitive Manufacturing Systems, Kirkland (No. 50); Vixel, Bothell (No. 108); GWI Software, Vancouver (No. 156); CourtLink, Bellevue (No. 173); Informatics, Richland (No. 174); Amanda Gray, Seattle (No. 188); Versatile Systems, Lynnwood (No. 260); Elucidex, Bellingham (No. 279); Optiva, Snoqualmie (No. 426); Hard Drives Northwest, Bellevue (No. 466).
Vixel, which went public earlier this year, qualified for the Inc. 500 because companies in this year's list were evaluated on the basis of their growth from 1993 to 1998.
To qualify for the 1999 Inc. 500, companies must be independent and privately held, based in the United States and have had sales of at least $200,000 in 1994. Holding companies, regulated banks and utilities were not eligible for the list.
Companies' net sales figures were independently verified by Inc. magazine's research team.
Roth Staffing, a Brea, Calif.-based temporary and permanent staffing agency, was declared the nation's fastest growing private company, according to Inc., with a 20,300 percent increase in revenues, from $361,000 in 1993 to $73.7 million last year. The company increased its workforce from six full-time employees in 1993 to 197 at the end of 1998.
The following is a look at how the five Eastside companies fared:
Intuitive Manufacturing Systems, a Kirkland-based developer of enterprise resource planning software for small and midsized manufacturers, saw its revenues grow 3,200 percent, from $219,000 in 1993 to $7.3 million last year. Its workforce rose from 8 employees five years ago to 72 in 1998.
Vixel, a Bothell-based developer of high-speed fiber-optic products, enjoyed an 1,800 percent growth in revenues, from $1.9 million in 1993 to $39.4 million last year. Its workforce increased from 23 employees in 1993 to 166 last year.
CourtLink, a Bellevue-based provider of online access to court records, saw a 1,400 percent increase in business, from $295,000 in sales in 1993 to $4.4 million last year. Its employee count grew from 9 in 1993 to 50 last year.
Optiva, the Snoqualmie-based maker of the popular Sonicare toothbrushes, had a 700 percent growth in sales, from $16.5 million in 1993 to $132.9 million in 1998. Its workforce expanded from 90 employees in 1993 to 500 last year.
Hard Drives Northwest, a Bellevue-based maker and seller of personal computers and supplies, reported a 600 percent growth in business, from $3.45 million in 1993 to $25.4 million last year. Its staff grew from five employees in 1993 to 45 last year.
Clayton Park can be reached at 425-453-4224 or at clayton.park@eastsidejournal.com.
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Eastside Journal
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