IEC Electronics Corp. has been ranked No. 6 on the Forbes 100 Best Small Companies in America.
To qualify for the list, companies must have sales between $5 million and $1 billion, a stock price no lower than $5 and be publicly traded for at least one year.
Rankings are based on earnings growth, sales growth and return on equity in the last 12 months and over five years. Additionally, Forbes compares the stock performance of each company with that of its peers.
IEC reported annual sales of $143 million, with a 40 percent sales growth and 79 percent increase in earnings per share. Shares of IEC (NYSE MKT: IEC) were trading midday at $7.08, up 1 percent from Tuesday’s close of $6.98.
This is the second consecutive year IEC has made the list; last year the Newark firm ranked third.
“We’re grateful for the distinction and believe that this recognition is an endorsement of the strength and dedication of our management team and employees in delivering the unique capabilities our company offers its customers,” said Barry Gilbert, IEC’s chairman and CEO, in a statement.
The list can be accessed online at http://www.forbes.com/best-small-companies/.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail firstname.lastname@example.org.