News

News Release 06-27-2011
Engineering Services Network, Inc. (Corporate Press Release)

As Revenue Soars, So Does ESN's Ranking in Hispanic Business List of Top 500 Companies - No. 133

ARLINGTON, VA (June 27, 2011) – Engineering Services Network Inc. (ESN), a trusted leader in technology and engineering solutions based in Arlington, VA, moved up to the No. 133 position in the prestigious Top 500 List of Hispanic-owned U.S. businesses by Hispanic Business magazine.

Despite a hard-hit economy, ESN continues to rise in the ranking – up to No. 133 this year from No. 168 last year.

President and CEO Raymond F. Lopez, Jr. credited customer satisfaction coupled with ESN’s mission to work “shoulder to shoulder” with its customers for ESN’s continued growth despite the nation’s economic recession and negative market conditions.

“At ESN, we have stuck to what we do best – we listen to our customers and provide them with engineering solutions so they can succeed and grow. That’s our success story,” Lopez said. “Our employees are dedicated to that promise we make to each and every customer. We’re honored that our customers trust our work and keep coming back to us.”

ESN performs IT, engineering and business consulting services for the U.S. military, Veterans Affairs, and other federal agencies. ESN was first ranked in HB 500 in 2007.

This year, ESN was also among the top 15 Virginia companies in the 2010 Hispanic Business 500 Ranking. Of the 15 Virginia companies, ESN ranked 10th.

“While total 2010 revenues for the Hispanic Business 500 came to $31.9 billion, a 5.7 percent increase from 2009,” the magazine reported, “that is still $4.2 billion less than the $36.1 billion in revenues posted in 2008.”

If 2009 was a time for companies on the Hispanic Business 500 directory to hold their breaths as the economy tumbled, 2010 might be characterized as the year they could begin breathing again, but only cautiously, the magazine reported. It added: “Forward movement in the overall revenues of the Hispanic Business 500 might be a cause for good cheer, but a slew of economic data released this year points to an economy that is still in a seesaw mode.”

The sluggish economy was evident. “While overall revenues rose, the number of companies failing to post at least $5 million increased by 72.7 percent, from 33 in 2009 to 57 in 2010,” the magazine said. “That continues a trend started in 2008 when, for the first time in a decade, not every company posted $5 million in revenues. Seven failed to do so in that year.”

Market conditions remain the biggest barriers to growth, according to survey responses from Hispanic Business 500 companies, with 33.4 percent citing this as the top barrier. That is down from 48.4 percent last year.

Despite the sluggish economy, ESN’s annual revenue soared 32 percent to $36.7 million, up from $27.9 million from the previous year. The company has 230 employees.

“We are honored to be a cog in the economic engine of our region, and Virginia in particular,” Lopez said. “We couldn’t do that without the support of our customers and our employees. ESN making the HB 500 ranking is a credit to them.”

Specializing in providing best-in-industry, end-to-end IT solutions, program management support, engineering services, and financial management consulting for federal agencies, ESN’s business base extends to Chesapeake, VA; Charleston, SC; Newport, RI; San Diego, CA; Falling Waters, WV; Hines, IL; Milwaukee, WI; St. Paul, MN; Philadelphia, PA; Ogden, Utah; Keyport, WA; Hawaii, Italy and Japan.

ESN has ranked among the HB 500 list for the last several years, each year ascending.

In 2010, the Federal Times ranked ESN No. 53 among the contracting firms owned by service-disabled veterans that are contracting with the federal government. In addition, Inc. magazine named ESN one of the 5,000 fastest-growing private companies in the U.S. in 2010, 2009 and 2008, and among the top 100 fastest growing defense contractors in the U.S. in 2007. ESN is ISO 9001:2008 certified and has achieved CMMI® ML 2 for Development Version 1.2.



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