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ARA Scores Big at N.M. Technology Flying 40 Awards

June 2011
ARA Scores Big at N.M. Technology Flying 40 Awards
ARA's Chief Development Officer Frank Maestas, left, Vice President Larry Ghormley and Shock Physics Division Manager Bob Couch represented ARA at the 2011 Flying 40 awards ceremony.

ALBUQUERQUE, N.M. – Applied Research Associates, Inc., scored top honors again at the annual New Mexico Technology Flying 40 Awards as ARA placed second in a ranking of the state's top revenue-producing technology companies regardless of revenue growth.

Dr. Frank Maestas, ARA Executive Vice President and Chief Development Officer, accepted the award June 16 at a basketball-themed ceremony and luncheon at University Arena (better known as The Pit), the home of the University of New Mexico Lobos men's and women's hoops teams.

ARA earned $239.3 million in revenue in fiscal year 2010, and the nationwide company has placed at or near the top of Flying 40's list of the top 10 revenue-producing companies for the past 11 years. ARA's achievement of 41 percent revenue growth between 2006 and 2010 also earned it a place on this year's Flying 40's top 10 list for revenue growth in companies that generate more than $10 million in revenue. 

Each year, the Flying 40 event showcases the progress and growth of local technology companies. The awards annually recognize the fastest-growing technology companies with headquarters in New Mexico. This year's awards were sponsored by the Albuquerque Journal's Business Outlook section, KPMG LLP, New Mexico Bank & Trust, Technology Ventures Corporation, the Sandia Science & Technology Park Development Corporation and the UNM Mexico Athletics Department. KPMG LLP compiles the rankings from applications that companies submitted in the previous year.

The New Mexico Technology Flying 40 Awards categories include: the top revenue growth companies with revenues between $1 and $10 million, the top revenue growth companies with revenues of more than $10 million, and the top revenue-producing technology companies regardless of revenue growth. Nine companies were presented with the Falcon award; this distinction honors companies that might not qualify for the Flying 40 but show strong potential for creating future jobs.