Toronto, ON (PRWEB) September 27, 2006
Simply Audiobooks, North America’s top source for audio books, is pleased to announce that it has been ranked 6th on PROFIT’s seventh annual “PROFIT HOT 50" list of Canada's fastest emerging growth companies in 2006.
PROFIT reported that Simply Audiobooks’ revenues increased over 2000% during the three-year period reviewed by the magazine. This ranking reflects Simply Audiobooks Inc.’s position as a market leader in the audio book industry.
The PROFIT HOT 50 is the definitive ranking of emerging Canadian companies. The PROFIT HOT 50 ranks emerging firms by growth rates during the time period of 2003-2005 based upon revenues, revenue growth during the period, profit margin and employees in order to establish their rankings. The rankings demonstrate the efforts and entrepreneurial spirit of Canada’s young companies.
Simply Audiobooks, a Toronto-based company, saw it’s revenue soar from $170,000 in 2003 to nearly $5 million by the end of 2005.
“The past three years have been very exiting for our team," says Simply Audiobooks CEO, Sean Neville. “We have provided unprecedented convenience and access to audio books for consumers throughout North America, and the response has been overwhelming. We are very grateful for their continued confidence in us as North America's leading source for audio books. Combined with our product offering in the United Kingdom, we believe that the hyper-growth will continue as we evolve into to the worldwide source for audio books.”
“The PROFIT HOT 50 companies represent the ambition, sophistication and immense contributions of Canada’s entrepreneurial sector,” says Ian Portsmouth, Editor of PROFIT: Your Guide to Business Success. “PROFIT is proud to celebrate the success of these businesses and to share their growth strategies.”
The seventh annual PROFIT HOT 50 ranking is published in the October 2006 issue of PROFIT and is available online at PROFITguide.com.
About Simply Audiobooks
Simply Audiobooks is North America's top audio book source, offering the most comprehensive range of online services with unlimited rentals, sales and direct downloads. Launched in 2003, the company offers the world’s largest audio book rental program, and was the first to provide an unlimited rental model for audio books on CD, with free direct-to-door delivery and no due dates or late fees. Simply Audiobooks now offers audio books on tape or CD for purchase, as well as direct downloads in open-standard encrypted WMA files. The company has offices in Toronto, Buffalo, Las Vegas and Manchester. For more information, visit http://www.simplyaudiobooks.com.
About PROFIT: Your Guide to Business Success
PROFIT: Your Guide to Business Success, offers news, strategies, tips, interviews and other resources to the CEO’s of Canadian growth companies. Each year PROFIT, which currently reaches more than 370,000 readers nationally, hosts a number of events that bring together business leaders in the fast-growth segment and champions the interests of those leaders. PROFIT was founded in April 1982 as Canada’s first national magazine geared to entrepreneurs. Visit PROFITguide.com
Timothy Madden – Director, Marketing, Tel: (905) 901-0026 x104