Every top 10 sector culled from the HispanicBusiness 500 is up again this year not as much as 2011, but growth is growth.
Thats the good news. The OK news is that the best growth by sector was services 24 percent and automotives 23 percent. Those are good numbers, fine numbers, excellent numbers, but not quite as spectacular as the 41 percent the wholesale sector turned in last year.
The fact that we added a technology sector this year, for 10 sectors all told, accounted for some of the slowdown.
Growth by Sector
At the top of the service sector, Goodman Networks, a wireless services, design and engineering construction firm that was new to the sector last year, saw revenues of $696.2 million in 2012, down 4 percent from its revenue of $725 million in 2011. Both Wildflower International and Sun Holdings showed impressive surges of 165.9 percent and 67.4 percent, respectively.
Greenway Ford topped out the automotive sector with 34 percent growth, passing the billion-dollar mark when it upped its revenue from $902.4 million in 2011 to $1.2 billion in 2012. Ancira Enterprises also showed excellent upward movement at 35 percent, increasing its revenues from $572.1 million to $773.3 million, while Elder Automotive Group got back in gear with 55.2 percent growth. Elder was the only company in the sector that showed a decline last year.
Headquarter Toyota slipped 11 percent this year, from $161.5 million to $143.8 million, but still came in at No. 6 in the sector.
Transportation grew 17 percent in 2012, led by Pan American Express with revenue of $39.6 million, up 14.6 percent over last years $34.5 million. Top speed was shown by Golden Gate Air Freight, with growth of 91.3 percent, and LGA Trucking, with growth of 61 percent.
Meanwhile, energy grew by 16 percent in the year, with three companies lighting up the sector. Liberty Power Corp., an independent supplier of retail electricity in Fort Lauderdale, Fla., hit the top spot with growth of 8.5 percent and 2012 revenues of $710.8 million. However, it was consulting firm UDSS, tubular goods supplier Petro Amigos Supply and consultant Great Basin Petroleum Services that lit a fire under the sector, with growth of 122.2 percent, 82.1 percent and 46.5 percent, respectively.
The wholesale, construction and technology sectors grew by 10 percent overall in 2012.
Once again, the wholesale sector was led by Brightstar, the large distributor and services provider for the wireless industry. (Brightstar also took top honors on the HispanicBusiness 500.) Its revenues were $6.3 billion in 2012, up by 10.5 percent. It was trailed by its closest competitor in the sector, frozen foods distributor Quirch Foods, which turned in an otherwise massive revenue of $728.3 million, up 4.6 percent on the year.
Best growth in the wholesale sector was shown by Chattahoochee Oil, which surged 79.7 percent. Wholesale companies that dipped in 2012 did so only modestly, with Bartlett Dairy and Lucys Tire adjusting by negative 2 percent and negative 5.6 percent respectively.
Construction proved surprisingly volatile considering the slow but steady growth in the housing market. The sector leader, Mastec, grew by 23.9 percent to $3.7 billion, while second-place The Related Group plunged 26.4 percent yet still pulled in $1 billion for the year. Garcia Construction hung onto a spot on the top 10, despite plummeting 63.2 percent for the year, and Link Construction pulled in more than a 100 percent increase in revenue.
Our new technology sector rounded out the 10 percenters. At the top of the list was technology services provider SDI International, with revenues of $1 billion, followed by Genesis Networks Telecom Services with $846.2 million, up 39.4 percent for the year. The biggest growth was shown by Mercom, an IT products and services company, whose $78.8 million was good for a jump of 155.2 percent over 2011.
Despite interest rates remaining at historic lows, the finance sector managed to eke out growth of 10 percent for the year. Leader International Bancshares dropped 7 percent on the year but turned in revenue of $576.2 million, while First Equity Mortgage Bankers, in the No. 4 slot in the sector, grew 42.9 percent with $326.9 million.
Manufacturing grew by 5 percent in 2012 which seems well enough till we remember that the sector grew by 15 percent in 2011 and was booming along at 27 percent in 2010. Still, as we said above, growth is growth. The Diez Group led the way with revenue of $612 million.
Retail showed the smallest gains among the sectors, with only 3 percent improvement. Once again, Navarro Discount Pharmacies led the sector, this time with revenue of $348 million compared to 2011s $328 million, for growth of 6.1 percent. Holman's USA and Office Solutions Business Products and Services both made the list despite losses.
Holman’s USA stayed in the retail top 10, but continued its slide. Last year it was down 5.7 percent; this year it increased its downward momentum to 10.2 percent, with revenue of $40.9 million, down from $45.5 million in 2011.
Following trends in the general economy, the automotive sector revved up growth of 23 percent for the year. Greenway Ford and Ancira Enterprises paced each other, growing 34 percent and 35 percent, respectively. Elder Automotive roared back from last year's pothole with growth of 55 percent.
The construction sector nailed down an 8 percent chunk of growth in the year, though the range of gains and losses among the top 10 were all over the lot. Mastec (No. 1) grew by 23.9 percent, but The Related Group (No. 2) sank 26.4 percent.
In the energy sector's top slot, Liberty Power had revenue of $710.8 million, good for growth of 8.5 percent. UDSS came in at No. 8 with revenue of $20 million, but jolted the competition with a growth rate of 122.2 percent.
Although financial firms are as close to the money as a company can get, the economic downturn continued to dog the sector, which rose only 5 percent in 2012. Leader International Bancshares shrank by 7 percent, but fourth-place First Equity Mortgage Bankers grew by almost 43 percent.
There was little spectacular growth or loss in the manufacturing sector, which stamped out 5 percent growth in 2012. The biggest gainer was HUSCO International at 16.7 percent growth. Diamond P Enterprises lost 12.7 percent and Roses Southwest Papers dropped 11.4 percent.
While few companies in the sector's top 10 showed amazing gains, few had noteworthy drops, either. Navarro Discount Pharmacies led the pack with revenues of $348 million, up 6.1 percent year over year.
Despite a drop of almost 4 percent, Goodman Networks kept well ahead of the competition with 2012 revenue of $696.2 million. The Alamo Travel Group saw the only significant losses in the sector's top 10, but still came in at No. 8.
SDI International hit the billion-dollar mark in our newest category, up 2 percent from $980 million in 2011. Mercom, in the No. 9 slot, showed the greatest growth at 155.2 percent, while No. 6 Link America had the greatest drop, at just under 29 percent.
Some companies in the transportation sector flew right along, most notably Golden GAte Air Freight, which saw a 91.3 percent bump in revenue. LGA Trucking did well, moving up 61 percent. On the downside, transporter Three Star Trucking dropped 22.4 percent.
Brightstar continues to dominate the wholesale sector, with revenue of $6.3 billion for 10.5 percent growth in 2012. Showing the greatest growth was wholesale jobber Chattahoochee Oil, up nearly 80 percent.