Content area
Full Text
TECHNOLOGY: distributor is 'predictor of marketplace'
Rand Technology Inc., an Irvine-based company that has no recurring revenue, notched a 160% two-year growth rate for the period ended June 30. Founder and Chief Executive Andrea Klein, who views the lack of predictability as a challenge rather than a problem, has figured out a way to bring more stability to Rand's bottom line and boost its revenue amid fears of looming trade war.
Rand, which placed No. 2 on the Business Journal's annual list of fastest-growing private companies, large category-sales in excess of $100 million-is an independent distributor of electronics parts for Fortune 50 companies. Its revenue for the 12 months ended June 30 was $ 112 million, up from $48 million a year ago and from $43 million in the fiscal year ended June 30, 2016. The CEO says Rand's on track to reach $150 million for this calendar year.
Klein attributes the boost in revenue to her team's ability to anticipate the market's needs and hedge against the risks, which since last year included increased tariffs on imported goods.
"Rand's always been the visionary and predictor of the marketplace," she said. "I have a great team on the ground around the world for sales sourcing, and data analytics and...