ReQuest, Inc. chosen for second year in a row!
Ballston Spa, New York–November 1, 2005–Inc. Magazine has released their 24th annual ranking of the 500 fastest growing private companies in America and ReQuest Inc., is proud to have made the list for the second year in a row. The company was ranked #212 on the Inc. 500 list, with three years sales growth of 528.7%.
According to ReQuest’s new CEO, Peter Cholnoky, “This is an exciting time for ReQuest and we are proud to be acknowledged by the Inc. 500 for the contributions of our co-founders John Reine, Steve Vasquez and our entire team. This ranking is further testament to ReQuest’s leadership position in the consumer electronics custom audio and video industry.”
The companies that made this list represent the vanguard of American industry, posting an average three-year sales growth of 769%. Inc. 500 companies posted aggregate 2004 revenue of $15.9 billion, and 84% of them were profitable. Most importantly, Inc. 500 companies were engines of job growth, having created more than 95,000 jobs since the companies were founded.
The Inc. 500 list generated 25,180 new jobs in the past year alone, a stunning 35% year-over-year increase. Compare this with the total number of employees among Fortune 500 companies, which declined in 2001, 2002, and 2003 before experiencing a 1.3% up tick of 306,045 jobs in 2004.
“When you look at the amazing job growth among Inc. 500 companies and contrast it with the stagnation in the Fortune 500, it underscores the changing nature of our economy,” said Jim Melloan, project manager for the Inc. 500. “With unprecedented global competition, companies have to be able to turn on a dime and discover innovative new ways of doing business. Increasingly, it’s the smaller, agile companies like those on the Inc. 500 that are best equipped to meet these challenges.”
The Inc. 500 ranks privately held companies according to year-over-year sales growth from 2001 to 2004. With approximately 75% of all new job creation in the U.S. coming from entrepreneurial businesses, the Inc. 500 opens a window onto the companies and industries that are driving the economy forward. Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Stonyfield Farms, Timberland, Oracle, The Princeton Review, Morningstar, Jamba Juice, Gateway, E*Trade, Intuit, and Domino’s Pizza all appearing on the list before they became industry powerhouses.
The Inc 500 list appears in the November issue–on newsstands November 1.
About the Inc. 500
To be eligible for this year’s Inc. 500, companies had to be U.S.-based, independent and privately held through their fiscal year 2004, and have had at least $500,000 in net sales in the base year of 2001. In addition, their 2004 sales had to exceed 2003 sales. Companies are ranked on cumulative three-year sales growth from 2001 to 2004. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
Headquartered in Ballston Spa, New York, ReQuest Inc’s home-entertainment control systems have set the standard for high-end digital audio and video performance, management and system integration since 1998. From its market share leading AudioReQuest music servers to the multi-award winning VideoReQuest video management system, ReQuest’s products are the accepted leaders in cutting-edge custom integration technology. With over 10,000 units installed throughout the world, ReQuest also enjoys the #1 ranking for providing the best customer service in the custom integration industry. The company is also justly proud to have joined the rankings of the illustrious Inc.magazine as one of the top 500 fastest growing private businesses in America in both 2004 and 2005. For more information about ReQuest, visit www.request.com.