Since 2000, Dagens Industri (DI), the leading business magazine in the Nordic countries, has been designating the fastest growing companies in Sweden as Gazelle companies.
According to DI, the Gazelle award was created to promote progress by providing Swedens entrepreneurs with inspiring role models. 2009 is the second consecutive year that Handheld Group has been selected as a Gazelle company.
DI describes the Gazelle company concept: The term Gazelles was created by the American scholar David Birch. As far back as the 1980s, he proved that it was the smaller, fast-growing companies that create most new work places as compared to the economys elephants which are always trying to be more efficient and often reduce the number of work places. Gazelles are the dynamic intermediate layer of the industry. The Gazelle criteria are strict; Less than 1% of Swedens joint-stock companies meet the requirements to classify as Gazelle Companies, according to a survey done by the Stockholm School of Economics.
According to DI, a Gazelle company must meet at least the following criteria:
Its turnover must have increased continually for the past three years
For this same period, it must have at least doubled its turnover
Its total operating results for the past four financial years must be positive
Essentially, it must have grown organically, not through acquisitions and mergers
It must have sound finances
This is the second consecutive year Handheld has been given the Gazelle award, says Jerker Hellstrm, CEO of Handheld Group. The Gazelle award is a prestigious award and a good quality stamp for our company. Our growth and development have been exceptional, and I am very proud of our staff and everyone involved that have made this possible.
Even though the financial climate during 2009 has been challenging and the general market has seen a fairly sharp decline in sales, Handheld has managed to grow its business in comparison to 2008. Hellstrm has a very positive outlook for the remainder of 2009 and forward. Our 2009 sales so far has been exceptional, especially in light of the overall economy. The entire Handheld team has worked extra hard to keep our positive momentum, and this award is dedicated to our staff that are truly world class.
About the Handheld Group:
The Handheld Group is a worldwide supplier of rugged mobile computers and PDAs. Handheld and its partners deliver complete mobility solutions to businesses in industries such as logistics, forestry, public transportation, construction, military, and security. The Handheld Group of Sweden has local offices in Finland, the Netherlands, Italy and the USA. For more information, please see www.handheldgroup.com