Weather Decision Technologies, Inc. Named One of the Nation's Fastest-Growing Companies by Inc. Magazine
Weather Decision Technologies, Inc. (WDT), a leader in the commercial weather industry, announced today that it's been named one of America's fastest-growing private companies by Inc. Magazine. The "Inc. 500" list ranks the nation's top entrepreneurial firms according to sales growth over the past five years.
WDT grew approximately 326% in the past five years.
"We're thrilled to have made the Inc. 500 for the first time," said Mike Eilts, WDT’s CEO. "It's an extremely prestigious ranking and we're delighted to be included. It proves that our careful attention to detail and our dedication to producing great weather tools and applications are really paying off."
WDT is one of only seven Oklahoma companies that made this year's list and the only weather information company. The ranking appears in the magazine's special Inc. 500 issue, which will hit the newsstands October 26.
For Weather Decision Technologies, the Inc. 500 honor comes on the heels of receiving an OKC Metro 50 Award for the second year in a row, which ranks the 50 fastest-growing companies in Oklahoma.
To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
The companies that made this list have thrived despite continued stagnation in the economy, posting an average year-over-year sales growth of 265%. Inc. 500 companies posted aggregate 2003 revenue of $12.6 billion, and 82% of them were profitable. And while the United States shed 410,000 jobs in 2003, Inc. 500 companies provided employment for more than 70,000 people.
Further demonstrating the resilience of this year’s Inc. 500 crop is the fact that 102 of this year’s honorees started in 1999—meaning that they weathered the start-up costs of the overcapitalized boom and thrived during the impending bust that was one of the toughest periods for young companies in recent memory.
“The best thing you can say about this year’s crop of Inc. 500 entrepreneurs is that they didn’t buy into the hype,” said Inc. editor-in-chief John Koten. “When people were practically giving away funding in the late 1990s, these companies didn’t overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity.”
About Weather
Decision Technologies, Inc.
WDT’s mission is to provide scientifically credible and accurate weather and lightning data and predictions to our partners and customers. Founded in 1999, and now recognized by Inc. Magazine as one of the fastest growing companies in America, WDT offers products that assist organizations in making critical decisions based on weather. WDT continues to enjoy a rapid annual growth rate. For more information, please visit www.wdtinc.com.
About Inc. Magazine
Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small to medium-size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination.