RIM named as fastest growing firm by Fortune

RIM has recently been honored by Fortune as the top fastest growing firm of 2009, which beat out 99 other firms around the world. Calculated based upon profits, turnover, and investment returns over a three year basis, RIM placed the highest.

RIM, most notably known for their BlackBerry lineup of smartphones, saw revenues grow by 77%, profits increase of 84%, while enjoying a total return of 45%. Keep in mind these numbers occurred amidst an economic downturn — no simple feat. 2009 marked the first year in which the top 100 businesses included firms outside of the United States, which accounts for the Canadian RIM placing in the top 100. Second on the list was Sigma Designs, a US chipmaker, whose revenue has increased 107% since 2007, partly due to the fact of increased popularity among Blu-ray players and partnerships with Microsoft.

An interesting note is the fact that Apple placed 39 on the list, while Google came in at 68. It just goes to show that the companies you’d expect to place higher do not always place higher. RIM has certainly done a good job in marketing their BlackBerrys and working to keep costs down and productivity high.

Read [BBC]