The Fastest 50 the Vancouver Sun Wed 31 Oct 2007 Page: F2 Section: Special Section Source: Vancouver Sun
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The Fastest 50 The Vancouver Sun Wed 31 Oct 2007 Page: F2 Section: Special Section Source: Vancouver Sun British Columbia's fastest-growing publicly traded companies These lists detail two pillars of B.C.'s economy: Those companies with the fastest growth and those companies with the strongest fundamentals, hence the Fastest 50 and the Strongest 50 combine to form The Vancouver Sun's Top 100. The Fastest list is all about balanced growth, not just success in one category of financial performance. Where other ranking efforts look solely at revenue change, BusinessBC's sophisticated analysis is based on formulas developed by James Brander of the Sauder School of Business at the University of British Columbia. It takes into account employee growth, revenues, stock performance, and earnings. The Strongest 50 concentrates on total assets, market capitalization and how the company performs based on those fundamentals (more below.) Twenty-five companies, such as Teck Cominco, have both strong fundamentals and continue to grow, so they qualify for both lists. BusinessBC's other project partner, Ernst & Young LLP, began by looking at all publicly-traded companies with headquarters in B.C. and/or a significant proportion of business activities located in the province. Most but not all companies are traded on the Toronto Stock Exchange or the TSX Venture Exchange. Detailed financial information was drawn from annual reports and other sources. Employee numbers were volunteered by the companies and compiled by staff at The Vancouver Sun. Some 500 to 600 corporations were reviewed to arrive at this selection. James Brander's formula was applied to Ernst & Young's findings and the result was further refined to ensure that companies with balanced growth across the categories received due recognition. NOTES: Revenues for fastest-growing companies are shown in Canadian dollars, converted from U.S. currency for those companies that report in U.S. dollars. Conversions were made using average rates over each year ending May 31 as follows: 2007: $1.1366; 2006: $1.1734; 2005: $1.2592; 2004: $1.3426; 2003: $1.5247. Average growth for 2003-2006 used the most recent years available if there was no information for 2003. Share prices are as of May 31 or the last trade date in May in each applicable year. Revenue and EPS figures represent 2006 financial statement numbers unless 2007 numbers were released prior to September 21, 2007. - - - Company Sector Employees Employee Revenue ($000) % chng % chng Average growth Share Price % chng Earnings per share % chng 2007 2004 growth 2006 2005 2004 2003 03-06 05-06 03-06 2007 2004 04-07 2006 2003 03-06 N.A.Tungsten Corp. Ltd. Mining 255 6 4,150% 51,230 119 4,990 30,980 65% 43,074% 14,298% 1.24 0.14 786% (0.03) (0.24) 88% Silvercorp Metals Inc. Mining 504 10 4,940% 45,290 164 104 73 61,664% 27,454% 9,185% 18.34 1.50 1 1,123% 0.52 (0.13) 500% Methanex Corp. Industrial Prod. 760 832 -9% 2,473,840 2,087,988 2,308,620 2,164,356 14% 18% 5% 27.90 16.25 72% 5.20 0.02 33,994% Red Back Mining Inc. Mining 350 93 276 45,460 189 85 73 62,009% 23,994% 8,044% 5.09 2.30 121% (0.07) (0.03) - 131% Imperial Metals Corp. Mining 496 190 161% 211,450 71,077 1,125 36,207 484% 197% 2,107% 13.95 5.70 145% 2.75 0.09 2,956% Teck Cominco Ltd. Mining 8,875 6,710 32% 6,539,000 4,415,000 3,428,000 2,228,000 193% 48% 44% 48.50 12.50 288% 11.53 0.71 1,524% Longview Capital Partners Inc. Financial 35 -- -- 56,450 3,980 1 -- -- 1,318% 167,555% 1.39 -- -- 0.47 -- -- Endeavour Silver Corp. Mining 550 20 2650% 17,770 139 105 -- -- 12,684% 6,358% 5.49 1.35 307% (0.11) (0.11) 0% Lundin Mining Corp. Mining 1,500 285 426% 633,324 241,868 52,658 259 244,427% 162% 6,917% 13.04 2.67 389% 1.20 0.03 3,890% Quadra Mining Ltd. Mining 536 265 102% 461,455 287,405 16,020 -- -- 61% 877% 12.42 4.90 153% 0.46 (0.23) 300% Energy Metals Corp. Mining 142 -- -- 1,262 149 3 2 67,694% 746% 2,164% 18.20 0.30 5,967% (0.16) (0.03) -433% Eastern Platinum Ltd. Mining 2,700 3 89900% 14,080 231 20 1 1,116,474% 5986% 2,840% 2.48 -- -- (0.03) (0.01) -200% IMPACT Silver Corp. Mining 158 4 3850% 7,006 8 1 0 12,737,705% 86317% 29,522% 1.65 0.14 1,122% 0.03 (0.01) 400% Taseko Mines Ltd. Mining 315 250 26% 161,900 87,638 5,154 721 22,340% 85% 766% 3.78 1.58 139% 0.29 (0.09) 422% Xantrex Technology Inc. Technology 468 499 -6% 185,469 175,302 192,146 207,258 (11%) 6% (3%) 10.37 13.95 -26% 0.22 0.34 -34% Silver Wheaton Corp. Mining 10 2 400% 186,033 89,275 14,750 -- -- 108% 307% 12.23 1.00 1,123% 0.47 0.05 926% Western Prospector Group Ltd. Mining 29 1 2800% 1,077 550 28 9 12,038% 96% 716% 4.47 0.27 1,556% (0.13) (0.01) -1,200% Angiotech Pharmaceuticals Inc. Medical-Drugs 1,725 98 1660% 369,718 251,409 169,479 30,837 1,099% 47% 182% 7.16 30.10 -76% 0.06 (1.14) 105% First Majestic Silver Corp. Mining 1,059 104 918% 4,159 914 32 -- -- 355% 1,543% 4.49 1.75 157% (0.16) (0.09) -78% Denison Mines Corp. Mining 99 22 350% 11,406 164 3,249 19,135 (40%) 6,867% 2,230% 13.93 2.22 527% (0.21) 0.12 -273% First Quantum Minerals Ltd. Mining 7,500 2,500 200% 1,284,273 559,880 152,419 92,173 1,293% 129% 154% 85.65 15.64 448% 7.47 0.14 5,347% Silver Standard Resources Inc. Mining 334 95 252% 5,984 881 1,102 379 1,479% 579% 250% 40.50 17.00 138% 0.28 (0.10) 380% Pitchstone Exploration Ltd. Mining 6 -- -- 2,580 1,131 476 -- -- 128% 133% 2.99 -- -- 0.05 -- -- Aspreva Pharmaceuticals Corp. Medical-Drugs 130 53 145% 252,030 96,307 -- -- -- 162% 162% 21.59 -- -- 4.19 (0.37) 1,245% Energold Drilling Corp. Mining Services 408 111 268% 25,480 14,860 5,400 2,550 899% 71% 119% 2.61 0.63 314% 0.17 0.04 325% Absolute Software Corp. Technology 169 75 125% 20,163 11,690 8,568 7,616 165% 72% 40% 23.98 0.45 5,229% (0.26) (0.08) -225% Webtech Wireless Inc. Technology 126 30 320% 16,344 10,316 6,564 3,415 379% 58% 69% 3.53 0.63 460% 0.03 (0.03) 200% Sterling Shoes Income Fund Retail 1,150 660 74% 102,588 43,672 -- -- -- 135% 135% 18.10 -- -- 1.88 -- - - Polaris Minerals Corp. Mining 45 7 543% 1,990 83 158 -- -- 2,285% 1,119% 10.60 -- -- (0.13) (0.22) 41% Corriente Resources Inc. Mining 64 17 276% 3,995 209 382 137 2,822% 1,808% 647% 3.66 3.09 18% 0.02 (0.02) 200% Quest Capital Corp. Financial 30 18 67% 51,090 26,900 17,723 10,468 388% 90% 70% 3.21 1.42 126% 0.32 (0.02) 1,700% Western Canadian Coal Corp. Mining 118 22 436% 134,121 59,590 11,350 11 1,179,712% 125% 33,431% 2.25 1.45 55% (0.14) (0.07) -100% Fronteer Development Group Inc. Mining 16 8 100% 1,310 468 188 54 2,327% 180% 192% 12.83 0.91 1,310% 0.27 (0.02) 1,450% Strathmore Minerals Corp. Mining 14 4 250% 1,393 366 66 -- -- 281% 369% 4.78 0.37 1,192% (0.03) (0.05) 40% NovaGold Resources Inc. Mining 206 21 881% 8,300 3,682 3,751 1,592 421% 125% 86% 16.76 5.78 190% (0.33) (0.14) -136% UEX Corp. Mining 4 2 100% 3,266 813 255 30 10,728% 302% 422% 7.05 0.63 1,019% (0.02) -- -- BioteQ Environmental Tech. Inc. Mining Services 38 18 111% 4,520 2,760 1,030 90 4,922% 64% 425% 3.51 0.81 333% (0.04) (0.06) 33% Primary Metals Inc. Mining 294 223 32% 21,832 20,788 9,829 9,566 128% 5% 40% 2.42 0.24 908% 0.12 (0.29) 141% Amerigo Resources Ltd. Mining 126 73 73% 98,807 73,450 47,390 14,696 572% 35% 104% 2.60 1.80 44% 0.49 0.06 708% Versacold Income Fund Warehousing 4,373 1,059 313% 693,271 210,352 175,513 145,685 376% 230% 90% 12.14 9.69 25% 0.38 0.58 -34% Tournigan Gold Corp. Mining 27 15 80% 1,044 65 27 5 21,284% 1,512% 703% 4.08 0.49 733% (0.08) (0.16) 50% Eldorado Gold Corp. Mining 2,086 881 137% 99,376 42,559 48,220 58,287 70% 134% 35% 6.11 3.45 77% 0.01 (0.30) 104% Coast Wholesale Income Fund Retail 275 -- -- 125,955 66,629 -- -- -- 89% 89% 10.45 -- -- 1.03 -- -- Sierra Wireless Inc.