Network Hardware Resale Scores ‘Three-peat’ Honor from Inc. Magazine as one of the Nation’s 5,000 Fastest-Growing Private Companies
World’s Leading Provider of Pre-Owned Networking Equipment Ranked No. 3,361 on List of the Most Prestigious Businesses
Santa Barbara, Calif., August 14, 2009 – Network Hardware Resale (NHR), the leading provider of pre-owned and new networking equipment, today announced that Inc. Magazine has honored the company for the third consecutive year with a place on its prestigious ranking of the country’s 5,000 fastest-growing private companies. The Inc. 5000 is the most comprehensive look at the most important segment of the economy – America’s independent-minded entrepreneurs. Taken as a whole, these companies represent the backbone of the U.S. economy.
“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate,” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”
NHR was ranked No. 3,361 on the list of the nation’s top privately owned organizations on the merits of a 75 percent growth in revenue between 2005 and 2008. According to the Inc. 5000, the industry benchmark for this three-year period in 30.28 percent. To fuel its continued growth, NHR has expanded its presence globally to support its customers’ ever-increasing requirements for top-quality network equipment procurement, advanced technical support and alternative maintenance programs worldwide.
“NHR is honored to be part of the Inc. 5000 for the third year in a row,” said Mike Sheldon, president and CEO of NHR. “To be recognized repeatedly as one of the fastest growing companies in the country, even during tightened economic times, is indelible testament to our relentless dedication to providing outstanding value and unbeatable responsiveness to the network equipment needs of our customers around the globe.”
Founded in 1986, Network Hardware Resale has served more than 10,000 organizations worldwide, including Global 1000 companies, small and mid-sized enterprises, government entities, educational institutions, healthcare organizations and telecommunications service providers, with expedited delivery of fully tested, pre-owned network routers, switches, access servers and IP telephony equipment from leading manufacturers, including Cisco, Juniper, Foundry and Extreme.
The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than one million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
This year’s list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, insurance ranked as the top industry overall. Government services was the top industry gainer with 252 companies on this year’s list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit and independent—not subsidiaries or divisions of other companies—as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.