Company Among the Entrepreneurial Growth Leaders of America's Fastest Growing Private Companies
Miller Systems, one of Boston’s premier technology consulting firms specializing in web engineering and Information Technology, has been named one of America’s entrepreneurial growth leaders by Inc magazine, which today released its 2002 Inc 500 ranking of the nation’s fastest-growing private companies. The ranking will appear in the magazine’s special Inc 500 issue, which hits newsstands October 15.
Ranked #421, Miller Systems demonstrated exceptional profitability while achieving some 562 percent growth in the past five years, with sales growing from less than half a million dollars in 1997 to $2.8 million in 2001. Miller Systems provides a unique blend of award- winning engineering, IT consulting, and creative services that support clients’ strategic business objectives and deliver significant return on investment. Recently named one of Deloitte & Touche's fastest growing technology companies in New England, the company’s holistic approach and integrated offerings allow the company to cross traditional boundaries and provide expertise and accountability during the entire lifecycle of interactive and IT consulting engagements. In addition to its robust service offerings, Miller Systems is the creator and publisher of dataDriver, a licensed suite of browser- based, database-driven tools to manage the top three content and community management challenges faced by organizations communicating through a website.
“It is exciting and gratifying to be included in Inc magazine’s extremely prestigious ranking,” said Seth Miller, President, CEO and Founder, Miller Systems, Inc. “Today is a landmark day in our company history and a testament to the spectacular results that may be achieved through focus and teamwork.”
Started in 1982, the Inc 500 ranks the nation’s leading entrepreneurial firms according to sales growth over the previous five years. Former Inc 500 companies that have gone on to become household names include Microsoft, Timberland, Domino’s Pizza and Patagonia.
The 2002 Inc 500 reveals a surprising resiliency within the entrepreneurial sector, where leading companies are continuing to show dramatic rates of growth despite the recession. The average five-year growth rate of this year’s Inc 500 companies is 1,521%. While that is less than the 1,933% average for companies on last year’s list, it is nonetheless dramatic in the current environment. Average 2001 sales for the Inc 500 dropped only slightly, from $24,976,000 to $24,706,000. More than two-thirds (73%) of 2002 Inc 500 companies are profitable. Despite the technology bust, “Computer Software and Services” remains the leading industry category, representing nearly 40% of firms on the list.
“This is the first Inc 500 ranking to reflect the full impact of the recession,” said Inc editor John Koten. “Yet these entrepreneurs are managing to confound the naysayers and move ahead despite the obstacles. They’re showing that smart strategies can succeed even in the toughest of times.”
To be eligible for this year’s Inc 500, companies had to be independent and privately held through their fiscal year 2001, have at least $200,000 in sales in the base year of 1997, and their 2001 sales had to have exceeded 2000 sales. Holding companies, regulated banks and utilities are not eligible. Inc verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
About Inc Magazine
Inc, the premier magazine for growing companies, may be accessed online at www.inc.com. The magazine is owned by Gruner + Jahr USA, one of the top-ranked magazine publishers in the U.S., reaching one of the largest readerships in America. In addition to Inc, Gruner + Jahr USA publishes Child, Family Circle, Fast Company, Fitness, Parents and YM. G+J USA is 25.1% owned by the Jahr Group and 74.9% owned by Bertelsmann AG, the largest privately held and the fifth largest media company overall in the world with yearly revenues at $17.86 billion.