August 15, 2009
LAI International Inc., Scottsdale, Ariz., a supplier of precision components and subassemblies for original equipment manufacturers, has announced that it has been named for the third consecutive year to the Inc. 5000 list of the fastest-growing private companies in the country. This positions LAI among the year's fastest-growing and most-promising private manufacturing businesses in the United States.
"Our major business development segments — power generation, aerospace and defense-related industries — continue to be strong," Stewart Cramer, president of LAI, said. "Our business mix does change from year-to-year, but our customer base is well diversified, which buffers us from some of the fall-off in specific segments. We are excited to keep moving up the Inc. 5000 list and be recognized for the third year in a row."
LAI shot up 1,068 places to 1,711th fastest-growing U.S. private company from 2,797th last year. LAI was ranked 3,688th on the list in 2007, the inaugural year of the Inc. 5000. LAI placed 28th out of 108 Arizona-based companies on this year's list, and is the second-largest Arizona manufacturer out of seven companies ranked on the list.
"As an Inc. 5000 honoree, LAI International shares a prestigious pedigree with some of the most successful businesses in America," Jane Berentson, editor, Inc. Magazine, said.
The Inc. 5000 list measures revenue growth from 2005 through 2008. To qualify, companies must be U.S.-based and privately held, independent and have had at least $200,000 in revenue in 2005, and $2 million in 2008.
LAI showed revenue growth of 186.2 percent in the last three years, according to Vinnie Caliendo, CFO of LAI.
"The Inc. 5000 gives an unrivalled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models, as well as older companies that are still showing impressive growth," said Inc. 5000 Project Manager Jim Melloan.