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Recent Acquisition by Conversion Services International Ranks 306 on Inc. Magazine's Annual Listing of America's 500 Fastest-Growing Private Companies
~ Business Intelligence and Data Warehouse Consultancy McKnight Associates Ranks with Three-Year Sales Growth of 425 Percent; Acquired by Conversion Services International Earlier this Year ~
EAST HANOVER, N.J. (November 7, 2005) - Conversion Services International, Inc. (AMEX: CVN), a premier professional services firm focused on delivering the value in business intelligence, data warehousing and data management solutions to Global 2000 organizations and other businesses, today announced that McKnight Associates, Inc., a business intelligence and data warehouse consultancy it acquired earlier this year, received a ranking of 306, with three-year sales growth of 425 percent, on Inc. magazine's 24th annual Inc. 500 ranking of the fastest-growing private companies in the country. The Inc. 500 can be found in the November issue, which is now available on newsstands.
Conversion Services International (CSI) announced the acquisition of McKnight Associates in July 2005 and brought the consultancy's founder and president, William McKnight, aboard as its senior vice president of Data Warehousing. The extensive experience and successful management skills that McKnight leveraged to earn McKnight Associates' ranking on the Inc. 500 are also guiding CSI's data warehouse solutions as well as CSI's additional core competencies, including Strategic Consulting, Business Intelligence and Data Management.
CSI is the leading publicly held professional services firm specifically focused on the data warehousing and business intelligence areas. As a testimonial to CSI's strong relationships with its clients, it recognizes approximately 70 percent recurring revenue from returning clients.
"We congratulate William and his team for their hard work in achieving this notable recognition," said Scott Newman, chairman, president and CEO of Conversion Services International. "Successful acquisitions, such as McKnight Associates, continue to be a part of CSI's growth strategy and our overall commitment to providing our clients with significant value through strategic, robust solutions."
Jim Melloan, project manager for the Inc. 500, commented, "With unprecedented global competition, companies have to be able to turn on a dime and discover innovative new ways of doing business. Increasingly, it's the smaller, agile companies like those on the Inc. 500 that are best equipped to meet these challenges."
The Inc. 500 ranks privately held companies according to year-over-year sales growth from 2001 to 2004. With approximately 75 percent of all new job creation in the U.S. coming from entrepreneurial businesses, the Inc. 500 opens a window onto the companies and industries that are driving the economy forward.
Methodology
To be eligible for this year's Inc. 500, companies had to be U.S.-based, independent and privately held through their fiscal year 2004, and have had at least $500,000 in net sales in the base year of 2001. In addition, their 2004 sales had to exceed 2003 sales. Companies are ranked on cumulative three-year sales growth from 2001 to 2004. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
About Inc.
Inc., the only major business magazine dedicated exclusively to owners and managers of growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Inc. is also the only publication that focuses on small to medium-size businesses, responsible for more than half the nation's gross domestic product and 70% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Mansueto Ventures LLC publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination.
Note to editors: Trademarks and registered trademarks referenced herein remain the property of their respective owners. Photos of William McKnight are available from The Devon Group.
About Conversion Services International, Inc.
A Note on Forward-Looking Statements
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