The Globe 100
Market value 100
Return on equity 100
Top profit margins
2000 Mass. IPOs
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this year's Globe 100
| 2000 Globe 100 |
6. ACT MANUFACTURING INC.
CT Manufacturing set out in 1999 to capitalize on two trends it saw developing in electronics manufacturing: more high-tech companies were contracting out work, and large
contract manufacturers were raking in most of the growing business.
By the end of 2000, ACT had grown to rival the largest US contract manufacturers of electronics. It acquired two companies last year and doubled its staff two years running, leaping to its Globe 100 rank of 6, up from 43 the previous year.
The company, which makes components used in computers, telecommunications switches, and other equipment, has positioned itself to cater to the high end of the high-tech market. Two-thirds of its business comes from telecommunications, one-fourth from computing, and the rest from other applications.
Its rapid rise and growing profits made it one of the most widely recommended small stocks on Wall Street during the first half of last year.
But the distinction didn't protect its share price from the ensuing economic downturn.
The company's stock is now trading at about $16 a share, down from a Sept. 11 peak of $71.38.
Chairman and chief executive John A. Pino said the economic woes have slowed ACT's growth a bit, but they aren't dimming long-term prospects.
''We're a customer-driven company,'' Pino said. ''We believe
in meeting their needs on a daily basis, and that has helped us develop an exceptional customer list.
''I believe we're in a good position in the marketplace,'' he
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