Front Page  biz

Monday, June 21, 2010

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%