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Liberty Power Sales Growth Earns No. 462 Ranking on the 2008 Inc. 500
FORT LAUDERDALE, Fla. – October 17, 2008 – Liberty Power, one of the fastest–growing, independent retail electric providers in the United States, announced that it now ranks as one of the fastest–growing U.S. private companies according to this year’s Inc. 500. First introduced in 1982, the 27th annual Inc. 500 ranks companies based on revenue growth from 2004 through 2007. Liberty Power earned the position of 462 on the 2008 list, with a three–year revenue growth of 682%.
Inc. also issued several Top 10/50/100 lists, which evaluate the Inc. 500 and its recently expanded sister list, the Inc. 5000, by various segments. One segment examines companies according to industry – Liberty Power ranks 19th on the Top 100 Energy Companies list. Growth for the company was more than double that of the energy sector´s median growth of 298% growth, the highest level of any category. Based on actual revenue, Liberty Power is the leading retail electric provider among the Energy Companies listed, and is the fourth largest energy company overall – far exceeding the median industry revenue of $14.2 million.
Additionally, Liberty Power is listed as the 14th fastest–growing private company in the Miami–Fort Lauderdale, FL region and is the 6th largest in the metro region in terms of revenue. The company is also listed as the 82nd fastest–growing private company in the nation in gross dollar growth.
The ranking highlights Liberty Power’s rapid growth through 2007, which was driven by an expansion of sales and marketing efforts. The company continues to engage additional sales channel partners and broaden its product portfolio to meet the wide–ranging needs of its diversified customer base. Liberty Power also capitalized on newly established markets, taking advantage of the national footprint it created in 2007 when the company received licenses to sell electricity in 11 additional states.
“Liberty Power is honored to be recognized as one of the fastest–growing private companies in America on these distinguished lists. We appreciate the trust that more and more customers place in us every day and view our growth as a result of that trust,” said David Hernandez, CEO of Liberty Power. “By actively listening to our customers, we have been able to significantly build upon both the number and quality of products and services we offer. We are committed to our business plan and our mission to be the leading provider of low–cost, reliable electricity while providing an unparalleled level of customer service.”
Complete results of the Inc. 500/5000, including company profiles and a list of the fastest–growing companies can be found at http://www.inc5000.com/.
Headquartered in Fort Lauderdale, Florida, Liberty Power is one of only four national retail electric providers licensed in 16 or more states and is the only certified, minority–owned, independent retail electric provider with a national presence. Currently serving tens of thousands of customers in New York, Texas, Maryland, New Jersey, Maine, Massachusetts, Connecticut, Illinois, Delaware, Rhode Island, and Washington, D.C., Liberty Power provides large and small businesses, as well as residential customers, with low–cost electricity and outstanding customer service. National customers include JCPenney, Bausch & Lomb, and New York Life, among others.
Liberty Power is a registered trademark of Liberty Power Corp. LLC. Liberty Power Corp. – encompassing Liberty Power Holdings LLC, Liberty Power Maryland LLC, Liberty Power District of Columbia LLC, and LPT LLC dba LPT SP LLC – is certified and licensed by the Public Utilities/Service Commissions of: CA, CT, DC, DE, IL, ME, MD (IR793), MA (CS-057) MI, NJ (ESL-0001), NY, OH, PA, RI, TX (10118) and VA; and is licensed and certified by the Federal Energy Regulatory Commission.
Liberty Power® is a registered trademark of Liberty Power Corp.
Inc. 500/5000 Methodology
First introduced in 1982, the 2008 Inc. 500 list measures revenue growth from 2004 through 2007. For the second consecutive year, the list was expanded to 5,000 companies, creating the Inc. 5000 list. To qualify, companies must be U.S.–based and privately held, for profit, independent – not subsidiaries or divisions of other companies – as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.
About Inc. magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures, LLC., Inc. magazine (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today’s innovative company builders. With a total paid circulation of 724,110, Inc. provides hands–on tools and market–tested strategies for managing people, finances, sales, marketing, and technology.