LSB Industries named one of Business Week’s Hot Growth companies for the second year in a row
Business Week selected LSB Industries from a database of 10,000 publically traded corporations and companies as a Hot Growth Company. The 50 companies named in the June 9, 2008 issue are considered the faster growing companies in America. These 50 companies stand out from their sector’s peers in growth of sales, profits, and return on invested capital. Business Week calls these companies “highfliers”, “trend spotters” and “innovators”, as they prove their resilience in a worsening economy.
During the selection process, Business Week first looked for companies whose minimum stock price was more than $5, market value of at least $25 million, and sales between $50 million and $1.5 billion. From those companies, Business Week selected companies whose one- and three- year sales growth was at least 30% higher than their peers in the S&P (Standard and Poor’s) 500 sector and their return on invested capital (RIOC) was equal to or greater than the RIOC for their sector. Finally, Business Week weeded out the companies with extended stock price declines or other red flags.
Jack Golsen, Chairman & CEO of LSB said, “Making the Hot Growth Companies list for the second consecutive year is a great accomplishment and one that I share with the entire LSB team of approximately 1,800 men and women whose dedication made this achievement possible.”
Several industrial companies made the list this year, including small manufacturers who build specialized products. Chief economist of consulting firm Economy.com, Mark Zandi said, “What the world wants from us now is [advanced] industrial products- from airplanes to drilling equipment to machine tools. I imagine there will be even more industrial companies on this list a year from now.”
Well-know companies like Netflix, Gymboree, Priceline.com, J Crew Group and Under Armour also landed this list. Several consulting firms, construction product manufacturers, oil drilling companies, machinery builders, pharmaceutical, software companies, and metal companies also made an appearance on this list.