TOP 100 2014: Dealing with ups and downsMidstate firms move forward despite highs and lows
Keith A. Brubacher, president of Brubacher Excavating Inc. in Brecknock Township, Lancaster County, has watched his company ride a roller coaster during the last decade.
The company quickly doubled its reported revenue from $34.88 million in 2002 to $73.47 million in 2008. When the recession hit, the company fell to $37.28 million in revenue in 2009.
It steadily grew back to $60 million by 2012, but the company reported $42.3 million in revenue for 2013.
One thing he’s learned from the ups and downs is that a company’s core values will always be tested, whether it is having a good year or a bad one. When those bad times come, it’s important to believe in what made the company successful and trust those values will get you back to the top.
“You have to keep a focus on the core values,” he said. “Whether it’s opportunity, or lack thereof, those values will be under pressure.”
At Travel Time Travel Agency Inc. in East Hempfield Township, the recession in 2009 caused the company to lose significant money for the first time in its 30-year history, according to CEO Shaun Balani.
The company went from $12.29 million reported revenue in 2008 to $9.43 million in 2009. But in 2010, when the company made two acquisitions — Bailey Travel of York and Ridgeway Travel of Lancaster — revenue shot up to $13.43 million and $21.79 million in 2011. In April, it acquired Travel Leaders of York, so Balani said 2014 figures will show additional revenue growth.
“The ups make you somewhat complacent, since you are feeling quite good about your growth, assuming profits are keeping up with sales growth, and don’t feel the need to look critically at your operations,” he said. “The downs make you pay attention to every detail of your business.”