Meridian Project Systems Makes INC. Magazine's List of Fastest-Growing Companies
Meridian' 2,923% Growth Ranks it the 56th Fastest Growing Privately Held Company in U.S.
(SACRAMENTO, CALIF., October 10, 2000) - Meridian Project Systems (Meridian) announced today that it has been named one of the fastest-growing companies in the United States by Inc. magazine, which just released its annual ranking of the Inc. 500, a comprehensive guide to the country's fastest-growing privately-held companies. Meridian, headquartered in Sacramento and ranked number 56 on this year's list, is a pre-IPO application service provider (ASP) and software solutions company for the architectural, engineering and construction (AEC) industry.
The Inc. 500, published on October 17, is an exclusive report on the companies and CEOs who are changing the face of U.S. businesses. Corporate names such as Microsoft, Timberland, Domino's Pizza and Patagonia are a few noteworthy alumni of the annual list.
"We are thrilled to be recognized as one of the most innovative and successful privately held companies in the U.S." said John Bodrozic, president and co-founder of Meridian. "When we started in 1993 with just an idea and a credit card as our venture capital partner, we truly believed that we could revolutionize the way construction was managed. Inclusion on the Inc. 500's prestigious list validates that idea and the hard work necessary to make it a reality."
"My focus since our founding has been on creating exceptional products," said David Towert, chief executive officer and co-founder of Meridian. "Our making the top 100 of Inc.'s list not only shows that the products we create deliver real value today, but it also shows that year after year we create new products that deliver greater value. That is a difficult challenge in today's technology industry."
Meridian is one of 69 California companies on the Inc. 500's list. California tops the list as the state with the greatest number of companies and Texas comes in second with 39 organizations. Virginia takes third with 31 companies. The fourth spot welcomes two newcomers to this year's list of top states - Florida and Illinois (24 each). Georgia and Massachusetts (26 each) round out the top five, knocking New York off the list.
A look at the Inc. 500 by sector indicates that the computer software and services sector dominates the rankings (38 percent). Other sectors represented on this year's list include: diversified services (17 percent), materials and construction (6 percent) and telecommunications (6 percent).
2000 marks the 19th year that Inc. has charted the progress of the U.S.' most innovative and successful entrepreneurs. To be eligible for the Inc. 500, companies have to be independent and privately held through 1999, have at least $200,000 in sales in the base year, 1995, and their 1999 sales must have exceeded their 1998 sales. The ranking is based on the percentage increase in sales from 1995 through 1999. Holding companies, regulated banks and regulated utilities are not eligible. Inc. verified all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
About Inc.
Inc. is the leading magazine written for men and women who own and manage small-to-mid sized, fast growing companies. Published 18 times per year, Inc. helps its nearly 2 million readers by providing expert advice and practical solutions as they face the opportunities, pitfalls and rewards of growing a company. www.inc.com
