Luminex Software Appears on the Inc. 500 Ranking of America's Fastest Growing Private Companies
Riverside, CA, October 14, 2003 - Inc. Magazine, the premier publication for small and medium-sized businesses, today released its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. Luminex Software, Inc., a leading developer of data distribution, archiving and storage products, ranks #360 on the list, with five-year sales growth of 496%. The Inc. 500 Special Issue will appear on newsstands October 14 and will be on display until January 2004.
The companies that made this list have thrived through continued stagnation in the economy, posting an average five-year sales growth of 1,312%. With aggregate revenue of $14.4 billion, Inc. 500 companies are a formidable market force. And while the United States shed 1.5 million jobs in 2002, Inc. 500 companies - half of which were launched with less than $20,000 - provided employment for 67,973 people.
"The entrepreneurs you'll find on the Inc. 500 have the type of attitude we need to get this economy moving again," said Inc. editor-in-chief John Koten. "For them, a tough market is not an excuse for poor performance, but an opportunity to innovate and rise above the competition."
"Luminex's perseverance in pushing the edge of technology has enabled us to grow in this challenging economic environment, extend our product lines, increase market share and further develop our loyal customer base," said Arthur Tolsma, CEO of Luminex. "We anticipate even further expansion in the coming years."
In addition to being named to the Inc. 500, Luminex appeared on the 2003 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America.
The Inc. 500 ranks privately held companies according to sales growth over the past five years. With 75% of all new job creation in the U.S. coming from small businesses, the Inc. 500 is a prescient indicator of the companies and industries that are driving the economy forward. Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Stonyfield Farms, Timberland, Oracle, Princeton Review, Morningstar, E* Trade, Intuit and Domino's Pizza all appearing on the list before they became industry powerhouses.
California leads this year as the state with the most Inc. 500 companies (59), Texas is second with 36 firms on the list, followed by Florida (34) and Virginia (30). Maryland and New York are tied with 28 each.
The top metropolitan areas on the Inc. 500 are Washington, D.C. (41 companies), followed by Boston (23), Philadelphia (21), Dallas (19) and Chicago (14). New York City, with only 12, is down from 37 a year ago. Inc. 500 is proof that tenacious businesspeople can succeed without the benefit of substantial resources. Of the Inc. 500 founders: 48% had start-up capital of less than $20,000, while only 2% received funding from Venture Capital firms. Now, 78% have an estimated net worth of over $1 million. Most Inc. 500 founders jumped right into their businesses; 84% started companies without benefit of any formal research. Also of note, is that 12% of Inc. 500 company founders are women.
Entrepreneurs leading Defense, Advertising & Marketing and Retail companies are poised to do the most hiring over the next year. The industry with the strongest showing on this year's list is Financial Services, followed by Healthcare, Software, Information Technology Services and Advertising & Marketing.
To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2002, have had at least $200,000 in sales in the base year of 1998, and their 2002 sales had to exceed 2001 sales. Inc. verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
About Luminex Software, Inc.
Luminex develops distinctive data storage products that tackle the complex challenges of storing, archiving, distributing and protecting data. Complemented by quality customer service, Luminex's innovative products create real value for our customers. The Data|WARE product family simplifies CD and DVD creation for small to large businesses in finance, healthcare, prepress, government and education. Luminex's Virtual|BLUE line of parallel channel and ESCON emulators links IBM and plug-compatible mainframes with UNIX and Microsoft® systems, resulting in improved operations and economics for large data centers. Founded in 1994, Luminex is privately held and headquartered in Riverside, California, with additional offices in San Diego, California, and Beaverton, Oregon. Data|WARE and Virtual|BLUE products are available directly from Luminex and through selected partners worldwide. For more information about Luminex, please email email@example.com or call +1.951.781.4100.
About Inc. Magazine
Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small-to-medium size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting edge coverage that reflects our readers' energy, brashness and imagination.
Luminex Software, Inc.
6840 Indiana Avenue, Suite 130
Riverside, CA 92506
Luminex Contact: Kate Donlon
Manager, Marketing & Corporate Communications
Fax: : 503.526.7841