Inc. magazine ranked Salt Lake City-based Spillman Technologies as one of the 5,000 fastest-growing private companies in the nation, marking the third consecutive year that the company has been included in the exclusive list.
"Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate," said Inc. 5000 project manager Jim Melloan. "That's why our list is so eagerly anticipated every year."
Spillman Technologies provides a full range of integrated software solutions for public safety agencies, including records management, computer-aided dispatch, mobile communications, corrections management, resource management, and data sharing. The software is used by more than 800 agencies nationwide.
Spillman was one of 237 software companies and one of 78 Utah companies to make the list of 5,000.
"To be included in this prestigious list for the third consecutive year is a great honor," said Spillman President and CEO Lance Clark. "It underscores Spillman's stability as a company and shows that we are poised well despite the current economic climate."
According to Inc., the list serves as a unique report card on the U.S. economy. In spite of the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy.
Methodology
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (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 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.
For more information about Spillman Technologies visit www.spillman.com.