The expertise and innovation demonstrated by our entire team, along with our commitment to invest and expand our business continues to be a great formula for success. QueBIT is ideally positioned for growth and solid performance for many years to come. It's great to see our efforts recognized through the prestige of the Inc. 5000 ranking.
Scarsdale, NY (PRWEB) September 7, 2010
Inc. magazine today ranked QueBIT Consulting NO. 1406 on its fourth annual Inc. 5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy--America's independent-minded entrepreneurs. Music website Pandora, convenience store chain 7-Eleven, Brooklyn Brewery, and Radio Flyer, maker of the iconic children's red wagon, are among the prominent brands featured on this year's list.
"The leaders of the companies on this year's Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression," said Inc. president Bob LaPointe. "The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs."
QueBIT is an IBM Premier Partner, specializing in IBM Cognos Performance Management Solutions. QueBIT has managed more than 700 implementations of Cognos across many different business sectors that solved a broad range of business problems, including financial reporting and consolidations, budgeting, forecasting, what if planning, business modeling, financial analytics and business intelligence.
"QueBIT is proud to be recognized through the Inc. 5000 ranking for the fourth year in a row," said QueBIT CEO Gary Quirke. "This reflects our continued growth, the value created for our business partners, and the strength of our organization. Our ongoing investments to support this growth include further development of specialized tools that enhance the Business Intelligence and Performance Management software products."
Catherine Jirak, QueBIT's COO added, "The expertise and innovation demonstrated by our entire team, along with our commitment to invest and expand our business continues to be a great formula for success. QueBIT is ideally positioned for growth and solid performance for many years to come. It's great to see our efforts recognized through the prestige of the Inc. 5000 ranking."
The 2010 Inc. 5000, unveiled today on Inc.com, serves as a unique illustration of the profound changes taking place in the U.S. economy. The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33 percent from last year to 335 companies. Government Services was also the second-fastest-growing sector in terms of median revenue growth, posting a 202 percent gain over the 2006-2009 measuring period. More than half of these companies are based in Maryland, Virginia, and Washington, D.C. The fastest-growing sector by median revenue growth was Real Estate, now just a tiny group of 38 young, small companies, which showed 231 percent median growth over the period. (There were 121 Real Estate firms on the inaugural Inc. 5000 in 2007.) Business Products & Services is the top industry by number of companies on the list (640) and total revenue ($80.7 billion), while Health is the biggest by total employment (287,726 jobs).
Despite the fact that most of this year's measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year's 126 percent. This year's Inc. 5000 employ a record 1.4 million people, up from one million on last year's list. With unemployment remaining stubbornly high, policymakers and business leaders will do well to look to the Inc. 5000 companies for fresh ideas on achieving growth and creating jobs.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on http://www.inc.com/5000.
The Hottest Regions for Fast-Growing Companies
Once again, California tops the Inc. 5000 with the most companies of any state with 684. The Golden State is followed by Texas (404), New York (353), Virginia (293), and Florida (262). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year's list.
New York boasts 410 Inc. 5000 companies, making it the top metro area, followed by Washington, D.C. (363), Los Angeles (262), Chicago (203), and Boston (189).
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2009. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. The top 10 percent of companies on the list constitute the Inc. 500, now in its 29th year.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (http://www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at http://www.inc.com.
Specializing in IBM Cognos Performance Management Solutions throughout North America, QueBIT empowers companies to make intelligent decisions faster. To find out more information on how QueBIT can work with your organization to achieve results, please contact us at 1800-QUEBIT1, email us at info (at) quebit (dot) com, or visit our website: http://www.quebit.com.