Women-Owned Businesses Posted 4% Revenue Gain
By SANDI CAIN
Orange County’s 30 largest women-owned businesses posted revenue of $1.2 billion last year, up 4% from a year earlier.
Companywide employment grew 5% to 9,887, with OC staffs up 2% to 3,916.
The list, ranked by 2003 revenue, inc-ludes companies that are at least 51% woman-owned.
Thirteen of the companies on the Business Journal’s list are 100% woman-owned.
The largest of those was No. 4 Systems Source Inc. in Irvine, an office furniture and systems dealership that grew its revenue by 40% to $77 million last year.
The list includes Business Journal estimates for nine companies that declined to provide revenue figures, including No. 1 Irvine-based In-N-Out Burgers Inc.
The top five companies accounted for more than half of the list’s total revenue, including estimates.
Of the 21 companies that reported revenue, 16 posted increases, four reported declines and one reported flat sales.
But 10 of the 16 that posted increases saw revenue climb by double digits, while two companies saw revenue fall by more than 10%.
Without the estimates, the 21 companies reported a sales decline of 4%.
Systems Source’s 40% sales jump was among the biggest percentage gainers. The company benefited from exposure to the fast-growing mortgage industry. Clients also come from the auto industry and government.
Systems Source has developed its own software to do business online.
“We believe in technology,” said owner Rosemarie Smith. “It helps us to be competitive.”
Others posting big growth were No. 25 APR Consulting Inc., a Tustin staffing company that grew sales 51% to $14.5 million, and newcomer No. 29 CDCE Inc., a Yorba Linda maker of wireless products, which posted 25% revenue growth to $10 million.
The growth at APR is particularly telling of an improving economy. Typically, staffing companies are the first to see employment grow as conditions improve.
“Two years ago, things were pretty tough,” said Aaron Stone, branch manager for APR. “When things turn around, work still needs to get done. So managers bring in temps to get the ball rolling.”
Revenue decliners included No. 2 Villa Ford in Orange.
The auto dealership reported a 12% decline in sales to $116.6 million, versus a year earlier. Ford Motor Co. said its North American sales for 2003 fell 4% to $84 billion.
Of the 23 companies that reported Orange County employment figures, 11 increased their local employee rolls, seven cut workers and five reported no change.
Those that added staff companywide included APR Consulting, which more than doubled its workforce to 280 after opening offices in New York, Atlanta and Las Vegas.
“Our clients were growing and we added work for the Immigration and Natural-ization Service,” APR’s Stone said.
Other companies that boosted companywide staffs by double digits were No. 11 Lindora Inc. in Costa Mesa, a weight loss products maker that grew 12% to 314 workers; and No. 12 Carlson Wagonlit Travel Associates in Irvine, which grew 20% to 18 people.
This year’s list includes nine new women-owned businesses. The Business Journal expanded the list to 30 companies, versus 25 last year.
When compared to the 25 companies on last year’s list, revenue at the largest 25 companies this year was up 9%, with companywide employment rising 16%.
A newcomer in the top 10 helped propel the revenue gains for this comparison. No. 8 Vortex Industries Inc., a door installation and repair services provider in Costa Mesa, reported a 10% gain in sales to $39.1 million.
The companies absent from the current list accounted for only about 5% of last year’s revenue, while those that replaced them among the top 25 account for about 19% of this year’s total.
Ownership percentages for women-owned businesses aren’t always transparent, so newcomers often are the result of referrals or Business Journal research.
In addition to Vortex, this year’s newcomers among the top 25 include No. 10 BDS Marketing Inc., an Irvine provider of retail marketing services; and No. 22 Aeroflite Enterprises Inc., a Brea distributor of electronic components to the aerospace industry.
And returning to the list is No. 19 iBaseT, a Foothill Ranch software maker for aerospace, defense and government work.
The company first fell on hard times after its founder passed away in 1999. In 2000 iBaseT was No. 25 on the Business Journal’s list with $15 million in annual revenue, but dropped off after the dramatic downturn following the 2001 terrorist attacks.
It’s back with $23 million in sales last year, up 15% from a year earlier.
“We probably hit bottom at the end of 2001,” said President Vic Sial. “We tightened our belts and focused on customer service and satisfaction and we’ve turned the company around.”
This year looks promising, Sial said.
“We’re in a nice up-cycle here,” he said.
Newcomers Boost List
The remaining newcomers,No. 26 Mybar Printing Corp. of Irvine; No. 27 Associated Landscape and Display Group in Santa Ana; No. 28 Lindy Office Products in Orange; CDCE; and No. 30 Village Gallery Inc. of Lake Forest,are the result of expanding the list to 30 companies.
Falling off the list were last year’s No. 15 Spirit Silkscreens Inc., which moved from Irvine to Mexico; former No. 20 McMahan Business Interiors, which is no longer majority woman-owned; former No. 23 Pacific Handy Cutter Inc., which no longer is based in OC; and last year’s No. 25 Powdercoat Services Inc., which didn’t make this year’s revenue cut-off of $6.1 million.
Interestingly, the largest 10 companies on the list operate in different industries.
Among all 30 companies, there are three staffing companies; three devoted to computer hardware or software; two in the retail sector and two in telecommunications. The remaining 20 run the gamut from restaurants and food products to aerospace, printing and travel.
According to a study by Washington, D.C.-based Center for Women’s Business Research, nearly half of the 10.6 million privately held companies in the U.S. have women as 50% or more majority owners.
