>> Download the 2007 Fastest-Growing 100 List
While Liberty Power is the top company on the HISPANIC BUSINESS 100 Fastest-Growing Companies® list based on its percentage gain in revenue from 2002 to 2006, there are other ways of looking at growth. Five companies make it into two other fastest-growing top 10 lists – one based on revenue growth in dollars and the other for increase in employment.
Miami-based Brightstar, 40th on the overall list, ranks No. 1 on the dollar-growth list, with a $2.75 billion increase between 2002 and 2006. The wireless-products distributor finished No. 9 in employment increase, as the company's workforce grew from 1,143 to 1,684 people for the same period.
Brightstar and Long Beach, California-based Molina Healthcare account for two-thirds of the total revenue among the top 10 companies ranked by dollar growth; Molina is No. 2 in dollar growth with a $1.35 billion rise in revenue.
The health care services provider, No. 71 on the overall list, is No. 2 in employment increase, growing from 847 to 2,000. Molina has grown by steadily acquiring smaller health plans since it went public in July 2003.
"We are always looking for acquisitions," said President and CEO J. Mario Molina, a medical doctor. "That continues to be a key part of our growth strategy because this is a highly fragmented industry." The company expects 2007 revenue to reach about $2.6 billion, up from $2 billion in 2006, he added. It currently has 1.1 million members, up from 511,000 in July 2003.
Greenway Ford Inc., based in Orlando, Florida, ranks No. 4 in revenue dollar growth, rising from $163.51 million to $451.77 million. The car dealership ranks No. 5 in employment increase, from 310 to 1,222. Greenway came in at No. 85 on the overall 100 Fastest-Growing Companies list.
El Paso, Texas-based Fred Loya Insurance ranks No. 8 in revenue dollar growth, rising from $43.89 million to $274.71 million. The auto insurance company, No. 20 on the overall list, ranks No. 3 in employment increase as its number of workers grew from 524 to 1,572.
The company has opened 40 new offices over the last year or so, more than half in Southern California. "We have been opening offices in California at as fast a pace as we could find locations. We are looking to California to provide much of our future growth," CEO Fred Loya Sr. said. The insurer also opened new offices in Texas, New Mexico, and Colorado.
Group O, an Illinois packaging company and No. 74 on the overall list, ranks No. 9 in dollar growth with an increase of $188.93 million. It ranks No. 6 in employment increase, growing from 332 to 1,112 employees.
Diverse Staffing Inc. of Brea, California ranks No. 1 on the list of companies by increase in employment. The employment and staffing firm increased its workforce from 1,800 to 3,000. Diverse Staffing ranks No. 31 overall.
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