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N.M.'s Flying 40

By Michael Hartranft
Copyright © 2010 Albuquerque Journal Journal Staff Writer
          The state's fastest-growing high-tech companies — collectively known as the New Mexico Flying 40 — thrived in 2009 despite the oh-so-slowly recovering economy, posting revenues totaling more that $1.18 billion.
        That's a 60 percent increase since 2005. It's also a $290 million gain over 2008.
        "The four-year gains are kind of typical," said Sherman McCorkle, president of the Technology Ventures Corp., a sponsor of the annual Flying 40 event to honor the businesses ranked as state's largest and fastest growing. "But we've never had a year-over-year gain like this in aggregate."
        In addition, the number of jobs at the Flying 40 soared from 4,529 to 6,124.
        It's particularly noteworthy given the struggles many of the companies faced between 2005 and 2008, McCorkle said, calling 2009 a "breakout year."
        "These private-sector, technology-based businesses represent the economic future of this state and are about the only economic bright spot for New Mexico in 2009," McCorkle said.
        On Tuesday, the 2010 Flying 40 once again will be honored at Isotopes Park, with a buffet luncheon on the baseball stadium concourse and awards ceremony at home plate. The 2009 event, the first at the park, drew accolades from those who attended.
        Now in its 13th year, the Flying 40 recognizes companies in six categories: Top 10 revenue companies; highest revenue growth in dollars (all companies); highest percentage revenue growth (all companies); top growth for revenues for companies with revenues over $10 million and top growth for revenues for companies with revenues under $10 million, both of which are based on revenue growth between 2004 and 2009.
        The Flying 40 also presents Falcon awards, which are honorable mentions for companies that might not have the five-year history to qualify for a Flying 40 award, but whose strong growth shows high potential for creating jobs in the future.
        Once again, Albuquerque-based research and engineering company Applied Research and Associates heads the top ten revenue companies list, earning $213.2 million in 2009. It topped the list last year with $196.3 million.
        CVI Melles Griot sits atop the award category for highest revenue growth in dollars, jumping from $42.5 million in 2005 to $146.5 million in 2009, a 244 percent increase. The Albuquerque-based company is a global supplier of photonics products for a broad range of applications.
        Another Albuquerque firm, Applied Technology Associates, heads the list for top growth for revenues for companies with revenues over $10 million. ATA, which specializes in precision measurements, sensing and control for primarily defense, but also commercial, customers, earned $40.1 million in 2009, compared with $10.6 million in 2005 — an increase of 278 percent.
        Leading the list for top growth for revenues for companies with revenues under $10 million is Aspen Avionics, for the second consecutive year. The producer of sophisticated avionics for small aircraft, Aspen earned $9.8 million in 2009. That's an astounding 207,304 percent increase from 2005 when Aspen's revenue totaled a mere $4,766. The company's success, not surprisingly, also earned it the award for highest percentage revenue growth, all companies, for the second year in a row.
        Nine companies will receive Falcon awards.
        McCorkle said New Mexico's technology companies compete well in the global economy.
        "They are the clean, high-technology, cutting-edge companies that are in such high demand," he said. "They also tend to attract similar complementary companies to the region.
        "Where many employ 50 or less today, these companies are the employers that will employ several hundred in the future."
        He cited examples such MicroOptical Devices, which began in 1994 with two employees, expanded to 18 in 1996, the Flying 40's first year of record, and then became the Emcore Corp. with 695 employees.
       

TOP 10 REVENUE COMPANIES
Current Employees Base Year Revenue Base Year Current Year Revenue Current Year Growth Period Revenue Growth %
1 Applied Research Associates, Inc 4300 San Mateo Blvd. NE, Suite A-220 1,215 $149,285,000 9/30/2005 $213,212,000 9/30/2009 4 43%
2 Emcore Corporation 10420 Research Rd. SE 695 $126,000,000 12/31/2005 $165,000,000 12/31/2009 4 31%
3 CVI Melles Griot 200 Dorado Place SE 903 $42,563,000 12/31/2005 $146,568,000 12/31/2009 4 244%
4 Commercial Data Systems 4828 Hardware Dr. NE 90 $60,000,000 3/31/2005 $87,000,000 3/31/2009 4 45%
5 Lovelace Respiratory Research Institute 2425 Ridgecrest Dr. SE 600 $35,494,500 9/30/2005 $74,096,900 9/30/2009 4 109%
6 Ktech Corporation 1300 Eubank Blvd. SE 399 $62,500,000 12/31/2005 $57,140,000 12/31/2009 4 -9%
7 L & M Technologies, Inc. 4209 Balloon Park Rd. NE 483 $24,197,064 12/31/2005 $52,249,388 12/31/2009 4 116%
8 Delta Group Electronics, Inc. 4801 Lincoln Rd. NE 67 $29,423,000 12/31/2005 $45,470,000 12/31/2009 4 55%
9 Abba Technologies, Inc. 1501 San Pedro Dr. NE 36 $46,046,202 12/31/2005 $40,219,401 12/31/2009 4 -13%
10 Applied Technology Associates 1300 Britt SE 200 $10,617,000 9/30/2005 $40,119,000 9/30/2009 4 278%
HIGHEST REVENUE GROWTH IN DOLLARS - ALL COMPANIES
1 CVI Melles Griot 200 Dorado Place SE 903 $42,563,000 12/31/2005 $146,568,000 12/31/2009 4 244%
HIGHEST PERCENTAGE REVENUE GROWTH - ALL COMPANIES
1 Aspen Avionics, Inc. 5001 Indian School Road NE 60 $4,766 12/31/2005 $9,884,897 12/31/2009 4 207,304%
TOP GROWTH FOR REVENUES > $10 million
1 Applied Technology Associates 1300 Britt SE 200 $10,617,000 9/30/2005 $40,119,000 9/30/2009 4 278%
2 CVI Melles Griot 200 Dorado Place SE 903 $42,563,000 12/31/2005 $146,568,000 12/31/2009 4 244%
3 L & M Technologies, Inc. 4209 Balloon Park Rd. NE 483 $24,197,064 12/31/2005 $52,249,388 12/31/2009 4 116%
4 Lovelace Respiratory Research Institute 2425 Ridgecrest Dr. SE 600 $35,494,500 9/30/2005 $74,096,900 9/30/2009 4 109%
5 Affordable Solar Group LLC 2501 Yale Blvd. SE #104 25 $7,403,498 12/31/2005 $14,228,180 12/31/2009 4 92%
6 Digital Traffic Systems, Inc. (DTS) 8401-A Jefferson NE 90 $8,036,000 12/31/2005 $15,000,000 12/31/2009 4 87%
7 Delta Group Electronics, Inc. 4801 Lincoln Rd. NE 67 $29,423,000 12/31/2005 $45,470,000 12/31/2009 4 55%
8 Technology Management Company, Inc. 2500 Louisiana Blvd. NE, Suite 300 350 $22,680,000 12/31/2005 $33,245,000 12/31/2009 4 47%
9 Commercial Data Systems 4828 Hardware Dr. NE 90 $60,000,000 3/31/2005 $87,000,000 3/31/2009 4 45%
10 Applied Research Associates, Inc 4300 San Mateo Blvd. NE, Suite A-220 1,215 $149,285,000 9/30/2005 $213,212,000 9/30/2009 4 43%
11 Emcore Corporation 10420 Research Rd. SE 695 $126,000,000 12/31/2005 $165,000,000 12/31/2009 4 31%
12 TMC Design Corporation 4325 Del Rey Blvd., Las Cruces 78 $13,280,353 9/30/2005 $16,960,942 9/30/2009 4 28%
13 Holman’s, Inc. 6201 Jefferson St. NE 44 $31,071,000 12/31/2005 $39,367,000 12/31/2009 4 27%
14 Daniel B. Stephens & Associates, Inc. 6020 Academy NE, Suite 100 100 $13,733,000 12/31/2005 $16,697,868 12/31/2009 4 22%
TOP GROWTH FOR REVENUES < $10 million
1 Aspen Avionics, Inc. 5001 Indian School Road NE 60 $4,766 12/31/2005 $9,884,897 12/31/2009 4 207,304%
2 Enerpulse, Inc. 2451 Alamo Ave. SE 25 $20,000 12/31/2005 $860,000 12/31/2009 4 4200%
3 Ardham Technologies, Inc. 116 Central SW, Suite 300 14 $162,696 12/31/2005 $4,750,024 12/31/2009 4 2820%
4 Source Technologies, LLC 320 Gold Ave. SW, Suite 500 15 $200,000 12/31/2005 $2,030,000 12/31/2009 4 915%
5 Sacred Power Corporation 1501 12th Street NW 35 $1,024,091 12/31/2005 $6,081,491 12/31/2009 4 494%
6 Vista Photonics, Inc. 3 North Chamisa Dr, Suite 1, Santa Fe 10 $359,667 12/31/2005 $2,116,833 12/31/2009 4 489%
7 Speridian Technologies, LLC 2021 Girard Blvd. SE 50 $2,200,000 12/31/2005 $8,000,000 12/31/2009 4 264%
8 Senspex Incorporated 9798 Coors Blvd. NW, Bldg. B 42 $1,702,900 12/31/2005 $5,786,300 12/31/2009 4 240%
9 Entereza, Inc. 2501 Yale Bvld. SE, Suite 200 20 $784,336 12/31/2005 $2,570,160 12/31/2009 4 228%
10 MZA Associates Corporation 2021 Girard SE Suite 150 49 $3,410,000 10/31/2005 $9,890,000 10/31/2009 4 190%
11 Deep Web Technologies, Inc. 301 N. Guadalupe, Suite 201, Santa Fe 23 $898,000 12/31/2005 $2,183,000 12/31/2009 4 143%
12 Upsite Technologies 8100 Lang Ave. NE 20 $3,009,447 12/31/2005 $6,844,764 12/31/2009 4 127%
13 Mechtronic Solutions, Inc. (MSI) 3801 Academy Pkwy N, NE 53 $3,291,353 12/31/2005 $7,154,530 12/31/2009 4 117%
14 HealthXnet (Healthcare Extranets, LLC) 7471 Pan American Freeway NE 5 $668,478 12/31/2005 $1,374,050 12/31/2009 4 106%
15 HT MicroAnalytical, Inc. 3817 Academy Pkwy S, NE 5 $739,964 12/31/2005 $1,472,394 12/31/2009 4 99%
16 TechSource, Inc. 1475 Central Ave, Suite 250, Los Alamos 23 $4,872,000 12/31/2005 $9,498,000 12/31/2009 4 95%
17 Samba Holdings, Inc. 1730 Montano Rd. NW, Suite F 28 $2,683,184 12/31/2005 $5,132,078 12/31/2009 4 91%
18 Radiant Technologies Inc. 2835-D Pan American Freeway NE 8 $877,565 12/31/2005 $1,592,068 12/31/2009 4 81%
19 Marpac Inc. 8430 Washington Pl. NE 28 $1,785,000 12/31/2005 $2,809,000 12/31/2009 4 57%
20 Sierra Peaks Corporation 8436 Washington Pl. NE 40 $2,950,000 12/31/2005 $4,059,000 12/31/2009 4 38%
21 Stolar Research Corp. 848 Clayton Highway, Raton 32 $5,380,699 12/31/2005 $6,549,786 12/31/2009 4 22%
22 Great River Technology 6121 Indian School Rd. NE Suite 141 9 $1,574,000 12/31/2005 $1,875,070 12/31/2009 4 19%
23 ZTEC Instruments, Inc. 7715 Tiburon St. NE 18 $2,418,000 12/31/2005 $2,662,000 12/31/2009 4 10%
24 PhDx Systems, Inc. 1001 University Blvd. SE, Suite 103 34 $2,815,000 12/31/2005 $2,965,000 12/31/2009 4 5%
25 TEAM Technologies Inc. 1400 Eubank SE 60 $8,965,400 12/31/2005 $9,370,000 12/31/2009 4 5%
26 Fiore Industries, Inc. 8601 Washington St. NE, Suite B 44 $6,340,000 12/31/2005 $6,430,000 12/31/2009 4 1%
Falcon Award Recipients
1 Advanced Logistics Support Corporation (ALS) 225 E. Idaho, Suite #4 Las Cruces 15 $142,641 12/31/2006 $5,429,343 12/31/2009 3 3,706%
2 Head Engineering Services, LLC 1717 Louisiana Blvd. NE Suite 209 44 $2,359,608 12/31/2006 $5,381,829 12/31/2009 3 128%
3 Caldera Pharmaceuticals, Inc. 278 DP Road, Suite D, Los Alamos 12 $156,000 12/31/2006 $1,510,000 12/31/2009 3 868%
4 Hyperion Power Generation Inc. 369 Montezuma Ave, Suite 508, Santa Fe 12 $- 12/31/2007 $1,100,000 12/31/2009 2 n.a.
5 Vision Quest Biomedical LLC 2501 Yale Blvd. SE #301 8 $151,363 12/31/2007 $1,006,123 12/31/2009 2 565%
6 Biomoda Inc. 609 Broadway NE 7 $650,000 12/31/2008 $1,000,000 12/31/2009 1 54%
7 Incitor Incorporated 801 University Blvd. SE, Suite 305 6 $- 12/31/2007 $935,000 12/31/2009 2 n.a.
8 Computational Analysis & Network Enterprise Solutions, LLC 10200 Comanche Rd. NE 10 $2,860 12/31/2006 $750,000 12/31/2009 3 26,124%
9 Holochip Corporation 1009 Bradbury SE, Suite 32 6 $2,100 12/31/2007 $250,000 12/31/2009 2 1,1805%
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