(1888PressRelease)
November 05, 2008 - Chicago, IL - Private companies in North America are bucking the downward economic trend, according to statistics released this week from the Entrex PCI/Gazelles Index.
This Index of high-growth private companies in North America ended the month of September almost 20 percent up from its August close. The Index closed at 1,400 in September, up from 1,246 in August.
The Entrex PCI/Gazelles Index even outpaced the overall Entrex Private Company Index (PCI), which climbed 8 percent based on September over August data—a month that ranks among the top 10 largest monthly increases since the parent PCI was launched more than three years ago.
Entrex CEO Stephen H. Watkins said the PCI/Gazelles Index significant jump is based, in part, on the strong growth performance of member company Superior Industries, a Minnesota-based maker of conveyor equipment and components, and feed systems.
Superior Industries is on track for the year, according to Watkins, but also benefited especially in the month of September by the shipment of a large project that hit the books last month. A price increase also helped Superior report increased revenue of 82 percent in September over August.
Superior Industries wasn’t alone in its growth last month. Half of the companies on the Index reported an increase in revenue, ranging from 2 percent to 124 percent. Those that didn’t report growth, only experienced a minor downturn, as little as 1 to 3 percent, said Watkins, which is negligible.
The PCI/Gazelles Index is sponsored by Chicago-based Entrex in partnership with Gazelles, an executive education and coaching firm. The PCI and PCI/Gazelles Indices are simply data research tools and not investable indices.
About Entrex/PCI Gazelles Index:
Published monthly, the Entrex PCI/Gazelles Index tracks the revenue performance of a 10-company subset of the overall Entrex Private Company Index (PCI). The 10 participating companies represent the PCI’s top growth firms from the previous year (as measured by year over year revenue) and focuses on the sector of private companies up to $250 million in annual revenue. (www.privatecompanyindex.com) Co-sponsor, Gazelles, is the premier executive education & coaching for leaders of mid-size firms (30 to 2000 employees) around the globe. www.gazelles.co
Contact:
Erika Conefry
Entrex
311 South Wacker Dr.48th Floor
Chicago, IL 60606
877-436-8739
econefry ( @ ) entrex dot net
http://www.privatecompanyindex.com
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