2009 Fantastic 50
- April 30, 2009
The latest list of the Fantastic 50 could mark the end of a boom-time era for Virginia’s fast-growing firms. Companies on the list ramped up their revenue before the recession took hold.
But if the history of Fantastic 50 is any predictor of the future, the momentum of fast-growth firms might not slacken, even in the worst economic downturn since the Great Depression.
The Fantastic 50, now in its 14th year, annually recognizes companies with the highest revenue growth over a four-year period. For the 2009 Class, that stretch was 2004 through 2007, a prosperous time in Virginia before the start of the 17-month-old recession. The company at the top of the list, ProLog Inc., grew 2,603 percent over the four-year period while the firm ranked 50th, Modern Technology Solutions Inc., saw its revenue rise 98 percent.
The recession would appear to be a significant speed bump for the next Fantastic 50 group. Nonetheless, several companies on the 2009 list report that their revenues continued to climb sharply last year despite the recession.
In fact, previous Fantastic 50 lists indicate that the last recession, in 2001, didn’t present much of a barrier. On the four lists that included 2001 revenues, the average growth of the top company was 4,214 percent.
The 2009 list includes 20 companies that started in 2000 or later. The oldest, Chase Investment Counsel Corp., was founded in 1957. Thirty-six of the 50 companies are based in Northern Virginia, and 28 are newcomers to the list.
The following pages offer details about the Fantastic 50 honorees, plus profiles of Prolog and award winners for high growth in four categories: manufacturing, retail/wholesale, service and technology.
The Fantastic 50 is coordinated by the Virginia Chamber of Commerce. Goodman & Co. handled the review of company records to determine the winners.