Parlex Corporation Named Among Forbes 200 Best Small Companies in America
18 October 2000
Parlex Corporation Named Among Forbes 200 Best Small Companies in America
METHUEN, Mass.--Oct. 18, 2000--Parlex Corporation announced today that it has been included on Forbes' annual list of the 200 Best Small Companies in America published in the October 30, 2000 issue of the magazine. Ranked #166, Parlex had to satisfy a range of requirements to be named one of Forbes 200 Best.To be considered for the list, companies must have sales between $5 and $350 million. The selected companies also must have five-year sales and earnings-per-share (EPS) growth rates of at least 5% and net income must have topped $1.0 million during the past four quarters. In addition, other data, made available through annual reports and other SEC documents, are analyzed in order to make the cut.
With FY 00 sales of $101.8 million, Parlex boasts a five-year average sales growth of 16% and a five-year average return on equity of 8%. In addition, Parlex has achieved a five-year average EPS growth of 37%. For FY 00 ended June 30, 2000, Parlex's net income reached $6.3 million.
Herbert W. Pollack, chairman and founder, commented, "I am very pleased to see our Company once again join the list of the Forbes 200 Best having been named previously in 1986. Considering the large number of companies in contention, it is an honor to stand among Americas' elite group of small companies. Parlex, now in its 31st year, continues its leadership position in its industry through a vision shared by its dedicated management and staff. We are all very proud."
Parlex Corporation is a leading provider of flexible interconnect solutions to the automotive, telecommunications and networking, diversified electronics, aerospace and computer markets. The Company operates seven manufacturing facilities, which are located in Massachusetts, New Hampshire, California, Rhode Island, China, Mexico, and the United Kingdom.
The foregoing contains certain forward-looking statements. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of various factors beyond its control, including economic conditions in the electronics industry, particularly in the principal industry sectors served by the Company, changes in customer requirements and in the volume of sales to principal customers, competition and technological change. For a detailed discussion of these and other cautionary statements, please refer to Parlex's filings with the Securities and Exchange Commission.