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O.C. left off Fortune's roster of fastest-growing companies
Only time since at least 2005 local companies aren't named.
By Kristen SchottPublished: July 10, 2009 11:22 AM
With the local economy taking a beating from the recession, it may not be surprising to some that Orange County small businesses were excluded from Fortune Small Business magazine's Fastest-Growing Small Public Companies list.
This is the only time in at least four years (the list's Web archive only goes back as far as 2005) that local businesses haven't been named. The publication formulates the list based on firms that make less than $200 million in annual revenue and with a stock price greater than $1. Companies are ranked from one to 100 on three years' revenue growth.
In 2008, four companies were named: San Clemente-based ICU Medical; Irvine-based Quality Systems; Aliso Viejo-based Smith Micro Software; and Fountain Valley-based CAM Commerce Solutions.
The reason behind O.C.'s exclusion could stem from a number of factors, including the effect of the recession here. The local economy has suffered from the slumping housing and construction industries and general decline in business activity over the year. The most recent figures from the state Employment Development Department put O.C. at 8.6 percent unemployment.
Only 10 California companies made the list this year, down from 18 last year.
The fastest-growing company on this year's list is Texas-based Life Partners Holdings.
Related headlines
'OC METRO Minute,' July 10: SBA loans up in second quarter
Irvine leads the county in layoffs. Is it a numbers game?
Orange County among riskiest housing markets nationwide
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This is the only time in at least four years (the list's Web archive only goes back as far as 2005) that local businesses haven't been named. The publication formulates the list based on firms that make less than $200 million in annual revenue and with a stock price greater than $1. Companies are ranked from one to 100 on three years' revenue growth. In 2008, four companies were named: San Clemente-based ICU Medical; Irvine-based Quality Systems; Aliso Viejo-based Smith Micro Software; and Fountain Valley-based CAM Commerce Solutions. The reason behind O.C.'s exclusion could stem from a number of factors, including the effect of the recession here. The local economy has suffered from the slumping housing and construction industries and general decline in business activity over the year. The most recent figures from the state Employment Development Department put O.C. at 8.6 percent unemployment. Only 10 California companies made the list this year, down from 18 last year. The fastest-growing company on this year's list is Texas-based Life Partners Holdings. Related headlines 'OC METRO Minute,' July 10: SBA loans up in second quarter Irvine leads the county in layoffs. Is it a numbers game? Orange County among riskiest housing markets nationwide |
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