Inc. 500 Names Barcoding Inc. One of America’s Fastest Growing Private Companies; Company Ranks #419 on the 2004 Inc. 500 with Five Year Average Annual Sales Growth of 89.9%
Inc. Magazine, the premier publication for small and medium-sized businesses, today released its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. Baltimore-based Barcoding Inc., ranks #419 on the list with a five-year average annual sales growth of 89.9%. The company also was recognized by Forbes Magazine earlier this year as one of the “Ten Startups to Watch”, and was named to Deloitte’s prestigious Technology Fast 50 Program for Maryland.
The companies that made the Inc. 500 list have thrived despite continued stagnation in the economy. Inc. 500 companies posted aggregate 2003 revenue of $12.6 billion, and 82% of them were profitable. And while the United States shed 410,000 jobs in 2003, Inc. 500 companies provided employment for more than 70,000 people.
“The best thing you can say about this year’s crop of Inc. 500 entrepreneurs is that they didn’t buy into the hype,” said Inc. editor-in-chief John Koten. “When people were practically giving away funding in the late 1990s, these companies didn’t overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity.”
To be eligible for this year’s Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
“Barcoding has taken an aggressive approach to growth this year,” said Jay Steinmetz, President and CEO of Barcoding Inc. “We’ve launched a route accounting division, expanded our services in the wireless and Wi-Fi arenas and continued to work as a partner for many of our long-term accounts.”
About Barcoding Inc.
Barcoding Inc. is a Baltimore-based technology company that installs and integrates wireless barcode systems utilizing handheld portable computing devises. Barcoding Inc. has provided wireless solutions for many companies within the manufacturing, distribution, and warehousing industries. The company’s capabilities range from on-site professional services to business-to-business e-commerce. Barcoding’s North American offices are in Maryland, Virginia, Pennsylvania, Georgia, Florida, California, Colorado, Connecticut and Illinois. European sales and customer service are handled through the Barcoding office in the Netherlands. For more information, please contact David Shapiro, Director of Marketing at 1.888.860.7226 x 109 or davids@barcoding.com or visit www.barcoding.com .
