Nytec Ranked 8th Fastest Growing Company on the Eastside by Puget Sound Business Journal
Firm attributes rapid growth to market demand for hardware engineering, resulting in a three year revenue growth of 214.78% from 2010-2012.
Redmond, Washington (PRWEB) August 05, 2013
Puget Sound Business Journal announced that Nytec, a Redmond based engineering firm, has been ranked 8th on their annual list of the 50 Eastside Fastest Growing Private Companies based on revenue figures from 2010-2012. The annual award honors Eastside companies that have achieved significant three year financial growth and the rankings were announced on July 21st at a sold out event at Newcastle Country Club.
Nytec secured their prestigious spot with an impressive 214.78% three year revenue growth rate. This is up from their already substantial growth rate of 176% from 2009-2011. The 37 year old firm has also seen their workforce greatly expand from 64 in 2009, to currently over 295 employees, creating 231 area jobs and still maintaining their excellent benefit package.
“We attribute our growth to our corporate culture. Nytec continuously reinvests its profits back into its employees, in turn making Nytec one of the most employee centric and benefits rich companies in the industry. As a result, Nytec attracts the best talent and have less than a 3% turnover” says Nytec CEO Richard Lerz.
The PSBJ’s list honors a select 50 companies that meet stringent criteria and have demonstrated significant continuous revenue growth. The end result of this year’s list alone is combined sales of over $1 billion and over 6000 people employed. To be eligible, a firm must have been established by January 1, 2010, and have global headquarters in Washington state. The Eastside is defined as Bothell, Woodinville, Redmond, Kirkland, Bellevue, Issaquah, Sammamish, and Renton.
While this is Nytec’s first time on the Eastside Fastest Growing Companies list, it comes on the heels of another period of acknowledgment of rapid growth. Last summer, Nytec was honored to join the elite Inc. 500|5000 list as the #1656th fastest growing company in the nation, 34th in Seattle metro area, and 16th overall in the engineering industry nationwide, as well as come in 30th on the 2012 Puget Sound Business Journal’s Fastest Growing Private Companies Awards.
The full list and company profiles are available in the July 19th print edition of the Puget Sound Business Journal.
Founded in 1975, Nytec is an industry leader in providing engineering services with a high degree of global experience and unparalleled talent. Nytec’s features and services include: hardware/software test & development engineers, hardware technicians, audio/video test, RF test engineers, benchmark testing, lab management, LabView development, IT support staff, HALT/HASS testing, and product development from R&D and proof of concept to manufacturing. Headquartered in Redmond, WA, Nytec has forged tight partnerships with leaders in cutting edge technology and their experienced team of engineers and technicians have been involved in multiple groundbreaking projects. For more information please visit http://www.Nytec.com or call 425.968.5715
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