Tom Sweeney

It's a coming of age tale….

RIM beats out Apple, tops Fortune’s fastest-growing list

Posted by sweens on August 19, 2009

By Ottawa Business Journal Staff
Mon, Aug 17, 2009 5:00 PM EST

Fortune Magazine has named Waterloo-based Research In Motion (TSX:RIM) as the fastest-growing company in the world, with only one other Canadian company named to the business magazine’s top 10 list.

It’s the first year that the publication has named companies from outside the United States to its ranking of the 100 fastest-growing firms. The BlackBerry maker, which has seen a three-year average per-share earnings growth rate of 84 per cent and an average revenue increase of 77 per cent, was accompanied in the top 10 by fertilizer company Potash Corp. of Saskatchewan Inc. (TSX:POT), which came in 10th.

RIM’s feat underscored a heated battle between its smartphone device and the popular iPhone from telecom and consumer electronics giant Apple (NASDAQ:AAPL), which only placed 39th. Fortune noted that the BlackBerry is now the top-selling smartphone in the United States.

Open Text Corp. (TSX:OTC), also of Waterloo, Ont., and Calgary-based Enbridge Inc. (TSX:ENB) were also named to the top 100 list, at 15th and 99th place respectively.

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