Kingston is undoubtedly the leading memory manufacturer in the world, as they not only avoided to post any profit warnings such as their smaller competitors, but also only have grabbed more and more market share and increased profit even as the economy got worse. Their ability to be resilient and to grow at a steady and fast rate allowed them to get on our radars when they published their earnings reports.
Because Kingston is a privately held company, they can make risky moves that groups like shareholders might not approve of. Their ability to do things without external criticism has allowed them to reach this list and make the Inc. 5000 list. Kingston?s overall rank on the list of 5,000 is actually 4,708 with 2009 revenues of $4.1 Billion. And since we?re already looking at the chart it?s not hard to notice that another Orange County technology company is in the top 10 Inc. 5000 companies ranked by total revenue. That company is Vizio of Irvine, CA who manufactures LCD televisions for wholesalers and retailers.
Getting back to Kingston, Kingston was also ranked 20th in gross-revenue growth for the three years from 2006 to 2009. During that period, Kingston?s revenue grew 12 percent as revenues increased from $3.7 billion in 2006 to $4.1 billion in 2009. This figure even factors in the memory glut that caused significant pains across the memory manufacturing industry. "The leaders of the companies on this year?s Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression," said Inc. president Bob LaPointe. "The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs." Back in 1992, Kingston was crowned No. 1, as the fastest growing private company by Inc. magazine for previous-year revenue of over $140 million and a workforce of 130 employees. In 2007, Inc. magazine honored co-founders Tu and Sun with the inaugural Distinguished Alumni Goldhirsh Award, for leadership, guidance and the embodiment of the American entrepreneurial spirit which were the core values of Inc. founder Bernie Goldhirsh.
The co-founders of Kingston also commented stating, "Kingston is grateful to have made the Inc. 5000 list again. David [Sun] and I are happy that Inc. continues to publish this list as it demonstrates their support of private companies and the strong commitment to the entrepreneurial spirit which is necessary in today?s difficult and competitive environment," said John Tu, co-founder, Kingston. David Sun also added, "We are fortunate to have come out strong after the downturn in the memory industry and the general state of the economy of the past few years. For us to continue growing during this weak economy, we will need to keep a very strong focus on process improvement. It is the only way."
This is yet another announcement by a company that is the clear leader in memory manufacturing that also holds some of the records for the fastest memory in the world. Time will tell can they continue to innovate and thrive and bring new and competitive products to the market.