For Second Consecutive Year, Wasp Barcode Technologies Makes Prestigious Inc. 5000 List
Forget the economic downturn. Small businesses are investing in technology, driving strong growth for b2b firms like Wasp.
Plano, Texas September 9, 2008 - Despite a slowing economy, Wasp Barcode Technologies last year turned in record growth and profits, earning the company its second consecutive ranking on the Inc. 5000 list of the fastest-growing private companies in the country. The Inc. 5000, an extension of Inc. magazine's annual Inc. 500 list, recognizes a broader range of companies that have achieved significant growth. This includes smaller firms and successful businesses in industry segments typically overlooked by the business media.
The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. During that time period, Wasp's revenue growth was 67 percent, earning it a ranking of 4,285 on the list. This marked the second time in a row Wasp has received this award by displaying consistent growth.
We are thrilled that we could follow up such a large increase with another demonstration of strong growth in revenue from 2004 to 2007, while maintaining a high level of profitability. In fact, during Wasp's 13-year history, we've been able to regularly create sustainable growth and profits that have defied market downturns.
"For our first appearance on the Inc. 5000 list last year, we had turned in growth of 87 percent in the 2003 to 2006 period," said Tom O'Shea, general manager for Wasp. "We are thrilled that we could follow up such a large increase with another demonstration of strong growth in revenue from 2004 to 2007, while maintaining a high level of profitability. In fact, during Wasp's 13-year history, we've been able to regularly create sustainable growth and profits that have defied market downturns."
Wasp attributes much of its growth to continued strength in the U.S. small business market, which makes up the vast majority of Wasp's customer base. These companies continue to invest in technology to improve their ongoing efficiency and productivity. In addition, Wasp expects continued strong results in 2008, thanks to a record second quarter and positive indications for the remainder of the year.
To qualify for the Inc. 5000 list, companies had to be based in the United States, independent and privately held, and have at least $200,000 in revenue in 2004 and $2 million in 2007. Complete information on this year's Inc. 5000 can be found at www.inc.com/inc5000.
About Wasp Barcode Technologies
Wasp Barcode Technologies provides data capture and tracking solutions designed specifically for small business. Products include inventory control, asset tracking, time and attendance, barcode scanners, barcode printers, and point of sale (POS) solutions. Wasp products help small business owners manage their companies more efficiently with improved productivity and profitability. Learn more at www.waspbarcode.com or call 214-547-4100.
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