The Utah 100: The state's fastest growing companies.

• Author: Kimball, Suzanne
• Position: Feature Story

In a state known for its entrepreneurial spirit, it's likely that somewhere in Utah a great idea for a new company is being born at this very moment. Somewhere between St. George and Tremonton, a future business owner is sequestered in his garage or living room, hammering out the details of a new start-up venture. Bright ideas are conceived in Utah on a regular basis by entrepreneurs who plant the seeds of a new venture and wait for the roots to reach deep and take hold. Such entrepreneurs pray for staying power and hope for growth, even though the odds may be against them. And sometimes, against all odds, a viable new company springs up, growing faster than even its founder could have imagined.

It's precisely that kind of fast growth that Mountain West Venture Group (MWVG), a non-profit organization focused on fostering business development in Utah, deems worthy of recognition. That's why for the past seven years it has honored Utah's 100 Fastest Growing Companies for their efforts to create a sustainable niche and thrive in an often brutal business environment. Take for instance the 1998 top-ranked Utah 100 honoree, PowerQuest Corporation -- its revenues grew a phenomenal 80,000 percent between 1993 and 1997.

But even with such amazing growth figures, the ability to maintain that kind of growth over the long haul proves difficult for most Utah 100 honorees. MWVG acknowledges that high growth brings high risks, which often means that a company receiving honors one year will completely disappear from the radar screen the next. Perhaps that's why even though high growth is a feat worthy of recognition, companies able to consistently maintain that growth year after year make a compelling story and deserve equal attention. Constancy is, after all, rather rare in the business world where ideas are born and die quite literally overnight. And now in its seventh year, the Utah 100 has enough history behind it to produce more than just a few examples of such constancy. Take this year's top-ranked Utah 100 honoree, for instance. This is the second year in a row that LS Micro, the Salt Lake City-based reseller of computers and computer parts, has topped the list. It joins PowerQuest in making a repeat performance as the Fas test Growing Company in Utah for two consecutive years. In addition, over 50 percent of Utah's 100 Fastest Growing Companies in 2001 are repeat honorees, some taking home honors four, five and even six times. Multiple winners include Prime Holdings Insurance Services, Elite Marketing, Baicor Inc., Stampin' Up! and Setpoint. And one company, Dentrix Dental Systems, is a seven-time winner taking home honors every year since the inception of the Utah 100.

So what gives these companies such staying power? LS Micro President Joseph Bingham believes consistent growth comes from the way a company treats its customers. "If someone buys a processor from us, for example, and they break it while putting it in their computer, they can bring it back and we'll warranty the part for three years," he says. "People can't go back to other dealers and get that kind of service. It's little things like that that set us apart."

Christopherson Travel Group President Michael Cameron agrees that structuring a business to meet the needs of the market is what distinguishes a company, and believes it is what has helped his travel agency become a six-time Utah 100 honoree. Cameron organized his agency after a professional service model, completely eliminating the company's advertising budget and using those dollars to support a full-time sales team instead. "That team meets with businesses one-on-one to show them how we're different from other travel agencies," says Cameron. "That turned out to be a very good thing."

Apart from the companies it honors, the Utah 100 itself is an example of consistent growth and staying power. Whereas the first ceremony in 1995 hosted just over 200 attendees, this year's event, held October 25 at the new Grand America Hotel in Salt Lake City, was attended by over 1,000 people. In addition to honoring Utah's Fastest Growing Companies, MWVG also recognized the top 15 companies with the highest revenue growth measured in hard dollars. Zions Bancorporation came out on top for the second year in a row in this area. MWVG also introduced a new category called the "Emerging Elite" designed to recognize 15 of Utah's newest companies in business for at least two years that show promise for future success.

Suzanne Kimball (suzkimball@aol.com) is a freelance writer and marketing communications consultant.

Top Revenue Growth Companies (by revenue dollars in 2000)

Top Revenue Growth Companies (by revenue dollars in 2000)

1. Zions [Bancorporation.sup.******]

1. Morinda Inc.

2. SkyWest [Airlines.sup.*****]

3. SOS Staffing Services [Inc..sup.****]

4. C. R. England [Inc..sup.****]

5. The Layton [Companies.sup.*******]

6. 1-800 Contacts Inc.

7. Nu Skin Enterprises [Inc..sup.**]

8. R. C. Willey Home [Furnishings.sup.*******]

9. Macey's [Inc..sup.******]

10. Jack B. Parson [Companies.sup.******]

11. Okland Construction Company [Inc..sup.*****]

12. Nicholas and Company [Inc..sup.****]

13. A-Plus Benefits [Inc..sup.****]

14. Stampin' [Up!.sup.***]

What the Numbers Show

In order to qualify as one of this year's 100 Fastest Growing Companies, an organization was required to achieve an annual growth rate of nearly 200 percent over the past five years. Top ranked LS Micro grew over 7,000 percent between 1996 and 2000.

Combined revenues for the top 10 winners in 2001, which were approximately $5.6 million in 1996, increased more than $200 million during the five-year period -- an average increase of almost 3,700 percent.

In 2000, the 100 Fastest Growing Companies had over $1.7 billion in total revenues, an increase from $280 million in total revenues from 1996.

Collectively, the top 15 Revenue Growth Companies generated $5.6 billion in revenues during 2000, representing average revenues per company of approximately $370 million. Overall, these companies added an additional $2.7 billion in revenues to Utah's economy between 1996 and 2000.

Emerging Elite (listed alphabetically)

Altiris

BUS Marketing

BlueStep Inc.

Campus Pipeline Inc.

Communitect

Convergence Communications Inc.

Employer Solutions Group (ESG)

Independent Witness Inc.

Infopia Inc.

MyFamily.com Inc.

NextPage

Overstock.com

Park City Solutions

Power Innovations International Inc.

Talk2 Technology Inc.

RANK COMPANY PHONE/FAX 1 LS (801)963-1038 [Micro.sup.**] Phone (801) 963-1467 Fax 2 Axiom Financial (801) 765-0066 [Inc..sup.**] Phone (801) 765-0077 Fax 3 1-800 CONTACTS (801) 924-9826 Inc. Phone (801) 924-9923 Fax 4 Focus Services (801) 393-1635 [Inc..sup.**] Phone (801) 393-0661 Fax 5 Precision (801) 229-2400 Assembly Inc. Phone (801) 229-2401 Fax 6 ConsultNet LLC (801) 208-3700 Phone (801) 208-3644 Fax 7 SafeHome (801) 377-9111 Security Phone (801) 377-4116 Fax 8 TruVision Inc. (801) 233-8118 Phone (801) 233-8605 Fax 9 SoundTube (435) 647-9555 Entertainment Phone (435) 647-9666 Fax 10 NetVision Inc. (801) 764-0400 Phone (801) 764-0600 Fax 11 Candesa (801) 426-5450 Phone (801) 426-5451 12 TenFold [Corpor (801) 495-1010 ation.sup.****] Phone (801) 495-0353 Fax 13 Loose in the (801) 568-9596 Lab Phone (801) 568-9586 Fax 14 [Hammerton. (801) 973-8095 sup.**] Phone (801) 973-0234 Fax 15 Prime Holdings (801) 304-5510 Insurance [Serv Phone ices.sup.****] (801) 304-5595 Fax 16 Task Technolo (801) 274-0985 gies Phone (801) 278-1217 Fax 17 PerfectPractic (801)...