COLOR KINETICS RANKS AMONG TOP 15%
OF PRESTIGIOUS Inc. 500
Inc. Magazine Names Color Kinetics #71 Among America's 500 Fastest Growing Private Companies
Boston, MA - October 1, 2003 -Color Kinetics Incorporated, the pioneer of intelligent LED-based illumination technologies, today announced its high-ranking recognition among America's fastest growing private companies, according to Inc. Magazine - a premier publication for small and medium-sized businesses. Color Kinetics falls within the top 15% of companies named to the prestigious Inc 500, which ranks private companies according to percentage of revenue growth over five years (1998-2002).
"This is a milestone achievement for Color Kinetics, and one that reinforces our sharp focus on growth, quality, and
operational excellence to achieve bottom-line success," said George Mueller, Chairman and CEO, Color Kinetics.
"These factors, coupled with the strength of our technology, intellectual property, and strategic partners, will ensure
our continued success in the fast growing market for intelligent LED illumination."
The companies that made the Inc. 500 thrived through continued stagnation in the economy, posting an average five-year sales growth of 1,312%. With aggregate revenue of $14.4 billion, Inc. 500 companies are a formidable market force. And while the U.S. shed 1.5 million jobs in 2002, Inc. 500 companies - half of which were launched with less than $20,000 - provided employment for 67,973 people. Color Kinetics is one of 23 Boston-area companies to make the list.
"The entrepreneurs you'll find on the Inc. 500 have the type of attitude we need to get this economy moving again," said Inc. editor-in-chief John Koten. "For them, a tough market is not an excuse for poor performance, but an opportunity to innovate and rise above the competition."
The Inc. 500 ranks privately held companies according to sales growth over the past five years. With 75% of all new job creation in the U.S. coming from small businesses, the Inc. 500 is a prescient indicator of the companies and industries that are driving the economy forward. Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Stonyfield Farms, Timberland, Oracle, Princeton Review, Morningstar, E* Trade, Intuit and Domino's Pizza all appearing on the list before they became industry powerhouses.
To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2002, have had at least $200,000 in sales in the base year of 1998, and their 2002 sales had to exceed 2001 sales. Inc. verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
The Inc. 500 Special Issue will appear on newsstands October 14 and will be on display until January 2004.
About Inc.
Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small-to-medium size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting edge coverage that reflects our readers' energy, brashness and imagination.
About Color Kinetics
Color Kinetics Incorporated is the pioneer of intelligent solid-state illumination technologies. The company designs, manufactures and markets an award-winning line of products that apply the practical and aesthetic benefits of LEDs to transcend the limits of traditional light sources for use in professional, consumer, and OEM and licensing applications. Its flagship line of technologies leverage a patented layer of digital intelligence, called Chromacore®, to generate and control millions of colors and dynamic lighting effects. Color Kinetics leads the industry in solid-state lighting innovation, including the custom engineered Chromasic® microchip, and holds a growing patent portfolio encompassing a number of emerging digital technologies. Founded in 1997, the company is privately held and is headquartered in Boston, MA with offices in the UK, China, and a joint venture in Japan. More information can be found at http://www.colorkinetics.com.
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