One hundred of Utah's fastest-growing companies, 15 Top Revenue Growth companies and 14 “Emerging Elite” companies were honored Thursday, Oct. 23 at MountainWest Venture Group’s (MWVG) ninth annual Utah 100 awards ceremony, titled “Navigating the Course of Success,” at the Grand America Hotel. Overstock.com, Inc. (NASDAQ: OSTK) topped the list of 2003's 100 fastest-growing companies, and Zions Bancorporation received honors as the Top Revenue Growth company for the fourth consecutive year. The top five winners measured an average of 7,694 percent five-year growth.

Multi-year Utah 100 honorees included Dentrix Dental Systems, Inc., a nine-time winner that has qualified since the inception of the Utah 100 in 1995; Christopherson Travel Group, an eight-time winner; and Body Firm Aerobics, Inc., a seven-time winner. Overstock.com was number two on the list last year. In the Top 15 Revenue Growth category, two companies were nine-year honorees—The Layton Companies and R.C. Willey; two eight-time winners were Zions Bancorporation and Macey’s, Inc.

Companies were ranked based on sales growth over a five-year period from 1998–2002. To be eligible for the Fastest Growing Company category, companies had to be Utah-based U.S. organizations with a minimum of $50,000 in sales in 1998, the base year. The average annual growth-rate of the top 100 fastest growing companies was 887 percent over the past five years. The top 10 winners had an average growth rate of 4,870 percent, while the top five winners had an average growth rate of 7,694 percent.

"Four years ago," Patrick Byrne said at the ceremony, “I was turned down by 55 VCs… and I was probably the only guy turned down in the fall of ’99.” Since then, he notes, Overstock.com has liquidated "18 dot-coms funded by the same guys who turned me down.”

 According to Media Metrix, within the first four months after its launch in 1999, Overstock.com’s ranking went from 7,000th on the Internet to 25th. Within the first 16 months, the company raised monthly gross merchandise sales from $70,000 to $1 million. The site currently maintains a fourth of the traffic of Amazon.com on about a hundredth of their marketing spending.

 In addition to Utah’s 100 fastest growing companies, 15 companies were recognized for their total revenues in absolute dollars. Collectively, these companies generated $7 billion in revenues in 2002, with average sales per company of approximately $467 million. Seven companies appeared on both the Fastest Growing and the Top Revenue Growth lists: SkyWest, Jacobsen Construction, CompHealth, 1-800-Contacts, Sportsman’s Warehouse, Stampin’ Up and Overstock.com. The other Top Revenue Growth companies were Zions Bancorporation, Icon Health and Fitness, Questar Corporation, R.C. Willey, Macey’s, The Layton Companies, SBI and Company and A-Plus Benefits.

MWVG’s newest category, the “Emerging Elite,” recognized 14 companies for outstanding accomplishments and future potential. The “Emerging Elite” were selected by the following criteria: revenue growth, employee growth, capital raised, and recognition from peer and professional associations. The 14 “Emerging Elite” companies were required to be in business between two and four years, and to have had minimum revenues of $50,000 in 2001. Unlike the Utah 100 winners and the Top Revenue Growth Companies, the “Emerging Elite” are not ranked. This year’s Emerging Elite are, in alphabetical order: Breathe Day Spa & Boutique, Salt Lake City; CG4 Solutions, Inc., Centerville; Datigen.com, Inc., Provo; Direct Pointe, Inc., Lindon; Forum Systems, Sandy; Heritage West Title Insurance Agency, Inc., Clearfield; iboats.com, Draper; In2M Corporation, South Jordan; MaxStream, Inc., Orem; Monet Medical, Inc., Salt Lake City; NxLight, Inc., Lindon; Spring Communications, Inc., Salt Lake City; The LoveSac Corporation, Salt Lake City; and Usight.com, Orem.

Sponsors of the 2003 Utah 100 awards program are Bremer Public Relations, Inc; Deloitte & Touche; Durham Jones & Pinegar; Holme Roberts & Owen, LLP; Jones Waldo Holbrook & McDonough PC; Merrill Corporation; Marsh; Merit Medical; MWI, Inc; PricewaterhouseCoopers, LLP; the State of Utah, Department of Community and Economic Development; Stoel Rives LLP; Thorpe Capital, Inc.; Zions Bank/Wasatch Venture Fund; and UTFC Financing Solutions, LLC. Utah Business magazine (sibling to Wasatch Digital iQ) publishes the lists each year with a feature on the awards in its December issue.

MountainWest Venture Group, “Utah’s Deal Flow Network,” is a non-profit organization dedicated to the advancement of the state’s financial deal flow. For the past 20 years, the group has brought together entrepreneurs, investors and professional service providers interested in the promotion of Utah’s capital development. Founded in 1983, MountainWest Venture Group is the sponsor of the annual Utah 100 Awards, the Entrepreneur of the Year Award and the annual Utah Deal Flow Report. The group encourages the participation of individuals and organizations interested in the establishment, funding and operation of successful business ventures. 

2003 Utah 100 Fastest Growing Companies

1. Overstock.com, Inc.

2. United Underwriters

3. 4Life Research, LC

4. Axiom Financial, Inc.

5. IKANO Communications

6. Rubicon Medical

7. Media Source, Inc.

8. Innovative Systems Architect Corporation

9. ChartLogic, Inc.

10. The Local Pages, Inc.

11. DieCuts with a View

12. InterMountain Lodging and Reservation Center, Inc.

13. Soap Crafters Company

14. Steton Technology Group, Inc.

15. Stake Center Locating, Inc.

16. Raumland Systems, Inc.

17. FatPipe Networks

18. MyFamily.com, Inc.

19. Wolf Electronix, Inc.

20. Cafe Rio, Inc.

21. Inovar, Inc.

22. Process Instruments, Inc.

23. Omniture, Inc.

24. Viranim Technologies, Inc.

25. SBI and Company

26. Bullfrog International

27. Minds i

28. Pyra's Fine Antique Furnishings and Interiors  LLC

29. Stoker Architecture, Inc.

30. Back to Basics Products, Inc.

31. FutureVision Technologies, L.L.C.

32. Q Comm International, Inc.

33. Dexter's Party Ice, LLC

34. SN Custom Railing, Inc.

35. Career Step LLC

36. Linux Networx

37. Coaching Institute, Inc.

38. Sportsman's Warehouse

39. McKinnon-Mulherin, Inc.

40. All Surface

41. Wasatch Aero Services

42. The Logo Shop, Inc.

43. ATA Services

44. Making Memories Wholesale, Inc.

45. Quality Excavation, Inc.

46. Riverwoods Mill, Inc.

47. PC Consulting, Inc.

48. InfoTrax Systems

49. Body Firm Aerobics, Inc.

50. The Spa Club

51. Prime Holdings Insurance Services, Inc.

52. Opticare of Utah

53. NetVision, Inc.

54. Paradigm Medical Industries

55. Document Control Systems, Inc.

56. ConsultNet, LLC

57. JBA Research

58. BRG Research Services, Inc.

59. Arena Communications

60. GoEngineer, Inc.

61. Med One Capital, Inc.

62. Ascend HR Solutions

63. Softwise, Inc.

64. Automated Business Products

65. Gold Systems, Inc.

66. American Pioneer Financial Services, Inc.

67. Real Property Management, Inc.

68. O'Currance Teleservices

69. Focus Services, Inc.

70. Utah Trailways

71. Zeal Optics

72. Dentrix Dental Systems, Inc.

73. Design to Print LLC

74. Security National Financial Corporation

75. 1-800 Contacts, Inc.

76. Wencor West, Inc.

77. CompHealth Group

78. SkyWest, Inc.

79. Dental Select

80. Stampin' Up!

81. SymbolArts LLC

82. Park City Lodging Connection, Inc.

83. Prototyping Management Corp.

84. Jacobsen Construction Company, Inc.

85. Thread & Ink Designs

86. Tuff Country, Inc.

87. Pallets By Hadley

88. Myriad Genetics, Inc.

89. ZEVEX International, Inc.

90. Employer Solutions Group

91. Cooper Roberts Simonsen Architecture

92. Christopherson Travel Group

93. Lincoln Financial Advisors Corporation

94. SliceX, Inc.

95. Diamond Rental, Inc.

96. Mikado Restaurants

97. Precision Assembly, Inc.

98. Million Air

99. Heritage Financial Group, Inc.

100. Hightech Signs, Inc.

2003 Utah Top Revenue-Growth Companies

   1. Zions Bancorporation, Salt Lake City

   2. SkyWest, St. George

   3. Icon Health and Fitness, Logan

   4. Questar Corp., Salt Lake City

   5. Jacobsen Construction Co., Salt Lake City

   6. CompHealth Group, Salt Lake City

   7. R.C. Willey Home Furnishings, Salt Lake City

   8. 1-800 Contacts, Draper

   9. Macey's, Sandy

   10. The Layton Companies, Sandy

   11. Sportsman's Warehouse, Midvale

   12. Stampin' Up!, Sandy

   13. Overstock.com, Salt Lake City

   14. SBI and Company, Salt Lake City

   15. A-Plus Benefits, Lindon

2003 Utah Emerging Elite Companies

    (Alphabetical list, no rankings)

   Breathe Day Spa & Boutique, Salt Lake City

   CG4 Solutions, Centerville

   Datigen.com, Provo

   Direct Pointe, Lindon

   Forum Systems, Sandy

   Heritage West Title Insurance Agency, Clearfield

   iboats.com, Draper

   In2M Corp., South Jordan

   MaxStream, Orem

   Monet Medical, Salt Lake City

   NxLight, Lindon

   Spring Communications, Salt Lake City

   The LoveSac Corp., Salt Lake City

   Usight.com, Orem