LTI Receives Philadelphia 100 Honorable Mention
Laboratory Testing Inc. was awarded an Honorable Mention by the Philadelphia 100, an annual project conducted by the Entrepreneurs' Forum of Greater Philadelphia, Philadelphia Business Journal and Wharton Small Business Development Center since 1988. Each year, the merit-based program recognizes the fastest growing, privately-held companies in the Greater Philadelphia Region. Laboratory Testing Inc. is a family-owned materials testing and metrology laboratory in business since 1984.
There were over 400 applications for the 2011 award, and this was the first year Laboratory Testing Inc. entered the competition. The rankings of winners are based on their growth rates in sales revenue over the prior three-year period. Sales revenue in the latest fiscal year for the 2011 Philadelphia 100 winners ranged from $171,000 to $153.9 million, with an average of $11.8 million. The median three-year growth in annual sales was 92.9%. Sixty-four companies were repeat winners, with over half having won more than once in previous years.