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CLEAR Temp: 90 °F Wind: NW at 10 mph Friday, August 29, 2003 SECTIONS Home Page Local News Sports Business Obituaries Life Opinion - Politics AP News Weather Classified Archives Site Map EXTRA HomeLife Magazine Joy Magazine Tempo A & E RogueValleyAutoFinder RogueValleyHomeFinder Real Estate Showcase Wellness Connection Newspaper in Education Prime Times Outdoor Journal Personals Movie Times TV Times E The People CLASSIFIEDS Find a Car Find a Home Find a Job Find Everything E SOUTHERN OREGON Automotive Communities Entertainment Publications Recreation Calendar ABOUT US FAQ What's New Advertise Home Delivery Classified Ad Employment Contact Us Media Kit Email Story to a Friend August 9, 2003 Lithia Motors achieves milestone By GREG STILES Mail Tribune In less than seven years, Medford’s Lithia Motors Inc. has vaulted to No. 2 on the list of Oregon’s largest publicly traded companies. Although Lithia’s $2.4 billion in revenue during 2002 pales compared to No. 1 Nike’s $10.7 billion, the auto retailer’s 66 percent average revenue growth since it began trading on the New York Stock Exchange has enabled it to surpass many much older companies. The company’s year-over-year revenue growth in 2002 alone was 27 percent. "It’s a milestone for us," says Dan Retzlaf, who heads Lithia’s investor relations. "Obviously, we’re happy to continue our climb up the list of Oregon public companies and expect to continue doing so. Our story is all about long-term and consistent growth." Advertisement The three companies ahead of Lithia either disappeared or failed to keep pace in 2002. Willamette Industries, previously No. 2, was engulfed by Weyerhaeuser in March 2002. Precision Castparts Corp. of Portland maintained its No. 3 spot, but its revenues slipped by nearly $400 million, and Louisiana-Pacific Corp.’s revenues climbed by less than $100 million. "Obviously a lot of companies are very reliant on their economic environment," Retzlaf says. "We’re a little more stable than some." Nike, No. 188 on the Fortune 500, will be more elusive. "We’ve climbed a few more notches on the list," Retzlaf says, "and we expect to grow in the future, but we have a way to go to catch Nike, most definitely." Lithia is on track to hit about $2.7 billion in revenue this year, and Retzlaf said the company will surpass $3 billion within two years. No. 5 StanCorp Financial Group Inc. ($1.75 billion) and No. 6 Hollywood Entertainment ($1.49 billion) have a presence in Medford. Umpqua Holdings Corp., which a few years ago swallowed up Valley of the Rogue Bank, is No. 30 with revenues of $128.7 million. Only five companies on the list, however, have greater total assets than Umpqua’s $2.556 billion. Klamath First Bancorp Inc., which recently announced it would sell to Spokane, Wash.-based Sterling Financial Corp., was No. 34 ($99.91 million). Cascade Bancorp of Bend, which this summer has moved into the Southern Oregon market, is No. 44 ($47.56 million). Medford-based PremierWest Bancorp moved up one notch to No. 50 with $37.85 million in revenue. Reach reporter Greg Stiles at 776-4463 or e-mail [email protected] Printer Friendly Version Email Story to a Friend Subscribe Archive: Click to Search Mail Tribune Home Local News | Sports | Business | Obituaries | Life Opinion - Politics | AP News | Archives | Site Map E Southern Oregon | Classified Copyright © 1997-2003 Mail Tribune. All rights reserved. Privacy Policy | Terms & Conditions Website Feedback A D V E R T I S E R S SPECIAL SECTIONS Rogue Valley Auto Finder Rogue Valley Job Finder --> Rogue Valley Home Finder Joy Magazine Homelife Magazine Tempo Real Estate Showcase Food for Thought Hike of the Week Wellness Connection Outdoor Journal Moving to Southern Oregon? Volunteer Openings Prime Times