Handheld named “Gazelle Company” by Swedish daily

24 November 2009, 1:40pm

24 November 2009 - 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 Sweden’s 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 economy’s 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 Sweden’s 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 Hellström, 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. Hellström 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.”

Handheld Group

Geo: International