Full Steam Ahead! Here Are the 7 Fastest-Growing Companies
These days, consumers can count on a handful of companies dominating the headlines, especially in the technology sector. News about Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG), and Facebook (NASDAQ:FB) monopolize readers’ attention as consumers learn more and more about the latest tech devices and what’s to come for the ever-changing industry.
However, those tech giants aren’t the only ones with significant success in the past few years, and Fortunes’s Fastest-Growing Companies list highlights that many other firms have also found their groove and are on the rise, too.
The Fastest-Growing Companies list is always evolving, but as 2013 comes to an end, it is important to acknowledge the corporations that have grown thanks to revived consumer business. That’s why we’re highlighting the seven fastest-growing companies as this October, all of which have registered triple-digit profit growth and development that is off the scale.
7. Virtus Investment Partners (NASDAQ:VRTS)
Up first on Fortune’s list is Virtus Investment Partners, an asset management company with investment managers that serve both individual and institutional investors, in the No. 7 spot. The Hartford, Connecticut-based firm spun off from The Phoenix Cos. (NYSE:PNX) in 2008 and has been able to register soaring share prices and continued revenue growth of 35 percent ever since.
In addition to the revenue growth, Fortune points out that Virtus’s profit has also grown 276 percent, and its total returns come to 111 percent.
In the financial sector, Virtus’s revenue sits near $304 million, with a net income at $46.2 million. The company recently reported its 17th consecutive quarter of positive net flows following its second-quarter earnings, and it doesn’t expect that pattern to let up anytime soon.