We said it last year, and we’ll say it again: The Great Recession ended in June 2009. However, the economy took another year and a half to take the expected step forward—which the HispanicBusiness 500’s nine sectors did in spades in 2010. Most clawed their way out of deep red holes into the light of day again, and some rocketed well into the black.
The good news this time around is that every sector is up. Not as shouting-from-the-mountaintop up as last year, but up all the same. 2011’s top sector as far as growth is concerned was services at 41 percent—impressive, till it’s compared to 2010’s wholesale sector. Revenue growth in that sector in 2010 was 51 percent, up from minus 16 percent in 2009, a 67-point gain. Finance, which was up by 4 percent in 2010, was only up by 1 percent in 2011.
The top sector by revenue was wholesale, at $8 billion in 2011, up about $1.3 billion over 2010. Almost all of the sector’s revenues are courtesy of Brightstar Corp. The mobile phone solutions provider had revenues of $5.7 billion and growth of 23.9 percent in 2011.
Another of our perennial top 10 companies, Mike Shaw Management Inc., which came in at No. 3 in the automotive sector, was named Time Dealer of the Year, the first minority-owned dealership to receive the prestigious award. The top two lanes in the sector were held by Greenway Ford Inc., of Orlando, Fla., and Ancira Enterprises Inc., of San Antonio, at No. 1 and No. 2, respectively.
Caution was our watchword for last year’s report, when we worried that the economy was still in a fickle mood. That goes double for 2012. In an election year, and with more budget shenanigans looming, anything can happen.
The automotive sector raced to a gain of 34 percent year over year in 2011, up significantly from its already impressive gain of 26 percent in 2010. Only Elder Automotive Group of Troy, Mich., saw a major decline in 2011. The decline must have been gut-wrenching, however. The dealership’s revenues plunged 31.2 percent year over year, from $165.1 million to $113.6 million.
The top four slots were occupied by the same companies in the same order as last year, with Greenway Ford Inc. on top. The Orlando, Fla., dealership doubled its fortunes, gassing up on revenues of $902.4 million in 2011, compared to $439.2 million in 2010. Ancira Enterprises Inc. of San Antonio, in the No. 2 position, posted an increase of just under 23 percent.
Coming in at No. 9 but showing impressive growth was the Paul Young Co. The Laredo, Texas, dealer rolled along from $80.5 million in 2010 to $111.7 million in 2011, for an increase of 38.8 percent.
The construction sector hammered out an overall gain of 32 percent in 2011, up from 27 percent in 2010. Last year’s top four companies maintained their respective positions, with MasTec Inc. on the top floor. The utility/energy infrastructure company posted revenues of $3 billion in 2011, compared to $2.3 billion in 2010, for an increase of 30.4 percent. Although The Related Group at No. 2 mustered only half as much—$1.4 billion in 2011, compared to $960.9 million in 2010—it still shot up 44.6 percent.
Hammering out a new spot on the list at No. 9 was JACO General Contractors of El Paso, Texas. JACO, which does construction and renovation on federal properties, showed revenues of $100 million in 2011, compared to $7 million in 2010. That’s an incredible 1,328.6 percent increase.
The only leaky roof in the sector was MCM of Miami, down 18.2 percent in 2011. Revenues of $105.5 million still earned it the No. 7 position, however.
Even our sector that showed the least growth, at least showed some growth. Finance was up 1 percent in 2011—but it was only up 4 percent the year before. The top seven positions were held by the same seven firms as last year, led by International Bancshares Corp. of Laredo, Texas, despite an 8.6 percent drop year over year. The full-service financial institution brought home revenues of $619.6 million in 2011, compared to $677.6 million in 2010.
The largest gain in the sector was shown by Bankers Healthcare Group Inc. of Syracuse, N.Y., with an increase of 18.8 percent. That was closely mirrored by First Equity Mortgage Bankers Inc. of Miami, with a year over year rise of 17.5 percent.
Both Samuel A. Ramirez & Co. Inc. of New York (No. 9) and Falcon International Bank (No. 10) of Laredo, Texas, slipped a bit: down 4 percent and 15.4 percent, respectively.
The manufacturing sector was a disappointment, despite being up 15 percent. The number shows a tapering-off trend after 2010’s boom of 27 percent, which in turn was a huge leap over 2009’s dismal drop of 16.7 percent. Still, the sector showed overall revenues of $2.9 billion in 2011, up from $2.5 billion in 2010.
The leading companies didn’t change their relative positions for the first seven places. The Diez Group led the sector with revenues of $562 million, up just under 1 percent in the black, while Ruiz Foods Inc., in the No. 2 slot, had revenues of $510 million, for a dip of 2.9 percent. Ideal Group, still at No. 7, had revenues of $200 million, good for a jump of 41.8 percent.
JS Products Inc., new to this year’s list at No. 8, showed year-over-year gains of 228.7 percent, with revenues of $126.5 million. The only top 10 company in the red besides Ruiz Foods was Roses Southwest Papers Inc. in the 10-spot, down from No. 9 last year, with a drop of 3.3 percent.
Leading the sector for the fourth year in a row was Navarro Discount Pharmacies. Its revenues were only up 2.7 percent, but that was an improvement over last year's 1.4 percent, and its 2011 revenues of $328 million outpaced those of the repeat No. 2 company, Mid-Atlantic Petroleum Properties, by $35.4 million. It’s worth noting, however, that Mid-Atlantic grew by 18.2 percent.
Sterling Computers Corp. repeated its third-place performance with revenues of $158.3 million, up from $156.6 million in 2010.
Showing the greatest growth in the sector was Puente Enterprises Inc. of Dallas-Ft. Worth Airport in Texas, at 56.2 percent. El Dorado Furniture Corp. of Miami Gardens, Fla., new to the list, also did well with growth of 16 percent.
Holman’s USA LLC registered the only drop in the sector, from $48.3 million in 2010 to $45.5 million in 2011, down 5.7 percent.
The service sector was our top gainer for the year, at 41 percent in 2011. The sector got a big leg up from SDI International Corp. of Fort Lauderdale, Fla., which had a revenue boost of 276.9 percent year over year, from $260 million to $980 million.
The No. 2 and No. 3 spots were taken over by firms that weren’t on last year’s list. Goodman Networks, a wireless network professional services, design and engineering construction firm out of Plano, Texas, saw revenues of $725 million in 2011, compared to $593 million in 2010, while Genesis Networks Telecom Services LLC of San Antonio, a VAR, logistics and staffing company, saw its revenues rise from $478.9 million in 2010 to $606.9 million in 2011.
MEI Technologies Inc. of Houston returned to the list at No. 10, down from No. 8 last year, despite a slight dip in revenues of 0.6 percent.
The transportation sector, which includes trucking, shipping and school bus companies, was up 9 percent for the year. That might seem a minor gain at first glance, but it’s encouraging for the sector—it was the only sector that showed a loss last year, at minus 4 percent.
Pan American Express, of Laredo, Texas, stepped into first place with revenues of $34.5 million, an increase of 27.1 percent over its 2011 numbers. Public Special Commodities Inc., of Mira Loma, Calif., held onto third place despite revenues of $22.8 million, a year-over-year loss of 40.1 percent.
Up one place from last year, Three Star Trucking Co. Inc., of Wayne, Mich., hauled into the No. 4 lane with revenues of $20.5 million, for a gain of 66.1 percent over 2010.
1 Trade Logistics Inc., of Grapevine, Texas, was new to the list at No. 10, with revenues of $6 million.
Wholesale did well again this year, although not nearly as well as last year. The sector was up 19 percent year over year, from $6.8 billion in 2010 to $8 billion in 2011, compared to 2010’s growth of 51 percent.
Just as in 2010, the sector’s success was due in no small measure to Brightstar Corp. of Miami. The immense wireless distributor and services provider had its finger on the wireless industry’s button, with revenues of $5.7 billion in 2011. That’s up 23.9 percent over 2010’s revenues of $4.6 billion.
Precision Trading Corp. of Miami Gardens, Fla., and Chattahoochee Oil Co. Inc. of West Point, Ga., also did well, with growth of 29.6 percent and 31.3 percent, respectively.
No company in the sector showed a loss in 2011, although Group O Inc. of Milan, Ill., just held steady at zero percent year over year.
The top 10 energy companies showed a collective gain of 22 percent, down from last year's growth of 36 percent.
The top company and the top gainer weren’t on the sector’s top 10 last year. Liberty Power Corp. LLC hit the top of the stack with revenues of $655.1 million in 2011, compared to $523.7 million the year before. New to the list was JBAR Enterprises LLC of Norcross, Ga., whose well-lubricated earnings hit $4 million in 2011—up a phenomenal 18,495.9 percent over its 2010 revenues of $21,682.
Venoco Inc. eased into second place with 2011 revenues of $329 million, up 11.5 percent from its 2010 revenues of $295 million, while The Plaza Group held onto third place with 2011 revenues of $272 million, up 37.4 percent from its 2010 revenues of $198 million.
Michigan Pipe & Valve-Saginaw Inc. remained in the top 10, despite a 20.8 percent drop in 2011.