10 fastest-growing companies named by Fortune magazine
(CBS News) Fortune magazine reveals their list of the Fastest Growing Companies on "CBS This Morning."
Check out the top ten companies the magazine named below and view the full list of Fortune's 100 fastest-growing companies on Fortune.com.
1. Jazz Pharmaceuticals
Dublin, Ireland
Revenue at this biopharmaceutical company spiked 115% in 2012 from acquisitions and up-tempo sales of narcolepsy drug Xyrem.
2. HollyFrontier
Dallas
Oil refiner cashed in on price gap between U.S. and North Sea crude while it lasted; profits from gas and other refined products surged.
3. Questcor Pharmaceuticals
Anaheim, Calif.
The expanded prescription of its top drug, Acthar ($28,000 per vial), boosted this biopharma company's stock and revenue.
4. On Assignment
Calabasas, Calif.
This specialty temp-staffing firm more than doubled revenue after it acquired Apex Systems, a provider of IT professionals.
5. 3D Systems
Rock Hill, S.C.
The maker of 3-D printers has added layers of new capabilities through rapid-fire acquisitions and big investments in R&D.
6. CVR Energy 1
Sugar Land, Texas
A dip in crude prices helped this petroleum refiner and fertilizer company improve margins and achieve record profits.
7. Virtus Investment Partners
Hartford, Conn.
Diverse investment options and effective distribution channels drove rapid growth at this asset-management firm.
8. IPG Photonics
Oxford, Mass.
Demand for this manufacturer's high-powered lasers, especially in Asia and the U.S., pushed sales up 22% in the second quarter.
9. HFF
Pittsburgh, Pa.
The rebound of the commercial-property market meant record 2012 revenues for this real estate capital middleman.
10. Green Mountain Coffee Roasters
Waterbury, Vt.
Despite losing patent protection, single-serve K-Cups still jolt revenue as the coffee purveyor looks to percolate in new markets.
To be named to the list, companies must be trading on major U.S stock exchange, and they are ranked by their revenue growth rate, earnings per share growth rate, and three-year annualized total return (for the period ending on June 28, 2013).
Andy Serwer, managing editor of Fortune, called the list representative of the "sweet spot of the economy." He explained, "These are where all the jobs are. These are where all the best investments might be."
For more on the companies that made the list and how it may represent trends in the wider world economy, watch Serwer's full segment about the list above.