Laser Design Named to Inc 5000’s List of Fastest Growing Companies in the US for Third Year in a Row

MINNEAPOLIS, MN – Laser Design Inc., a supplier of 3D laser scanners for more than 20 years, was named one of America’s fastest-growing private companies by Inc. Magazine for the third year in a row.

The 2009 “Inc. 5,000” award honors 5000 U.S.-based, privately held, independent companies that are ranked according to percentage revenue growth from 2005 through 2008. Ranked number 3525 nationally, Laser Design holds 69th place of the fastest-growing companies in the state of Minnesota in all industries. Revenue growth in the last 3 years is 68.3%.

“We are honored to once again be amongst the fastest growing, most successful companies in the U.S. in 2009,” commented C. Martin Schuster, President of Laser Design. “Obviously, this year was challenging from a business and growth standpoint, but we came out strong for the third year in a row, thanks to our advanced 3D scanning technologies and services, and a phenomenal customer base.”

Inc. magazine’s Editor noted that, “the Inc. 5000 list has served as evidence of the significant accomplishments of entrepreneurial companies.” Many of the selected companies do business overseas, where markets are becoming more accessible and the customer's nondollar goes a long way, increasing the companies’ likelihood of surviving a down economy. These fast-growing companies make a positive contribution to the economy, whatever its condition. Laser Design’s revenue continued to increase during the tough economic conditions from 2007 to 2008. The company is employing the 2009 Economic Stimulus program which almost doubles the 2008 amount a company is allowed to deduct from their taxable income to encourage businesses to invest in their cutting edge high-speed, high-accuracy laser scanning systems. In addition companies may qualify for a one-time 50% bonus depreciation on certain assets placed in service before December 31, 2009.

Cited as a product innovator, Laser Design seeks to establish itself as the gold standard in speed, accuracy, and ease-of-use for 3D laser scanning with its patented laser probe technology which it designs and manufactures. The company also operates GKS Inspection Services, a worldwide services division offering contract 3D laser scanning, dimensional inspection, and other measurement services.

3D laser triangulation scanning was originally inspired by a grant offered by the U.S. Navy to industry to devise a non-contact scanning technology to measure the cavitation wear in large ship propellers. Laser Design improved the single point laser scanning technology that was developed into a laser line scanning technology. Today Laser Design’s laser line technology is thousands of times faster than the original. Laser Design won Minnesota’s “Technology of the Year” award for its development of this laser line scanning technology.

As mainstream computer hardware and software became more powerful and affordable, the ability to work with large 3D data files (point clouds) without needing a super-computer also fueled the growth of the laser scanning industry. Laser scanning systems project a line of laser light onto surfaces while cameras continuously triangulate the changing distance and profile of the laser line as it sweeps along. The problems of missing data on an irregularly shaped or concave surface are eliminated. The system measures fine details and captures complex free-form geometry so that the object can be exactly replicated. Laser scanners quickly measure objects, picking up tens of thousands of points per second, and generating huge numbers of data points without the need for templates or fixtures.

Non-contact 3D laser scanning has become a mainstream technology for industries such as automotive, aerospace, marine, architecture, archaeology, biomedical, and consumer and commercial electronics as well as apparel, the opportunity for growth has exploded. It is now a standard process for industrial projects that require inspection, reverse engineering, ultra-precise measurement of parts with complex shapes or free-form surfaces, long-range laser scanning, and high-speed inline inspection.

“We have always had high-profile customers including Apple, Motorola, Samsung, Toyota, and Hyundai, who make the latest in consumer electronics and automotive products as well as NASA, the CIA, the U.S. Army and Navy, as well as art museums and universities scanning ancient artifacts,” explained Schuster.

With no end in sight for the advancement of the technology or the proliferation of applications, Laser Design is poised for even more rapid growth on a worldwide scale. Schuster continued, “This year we expanded significantly across the globe and added several more items to our services menu, including long-range scanning for large-scale applications, product design services, prototyping and manufacturing services, along with laser tracking, portable measurement device rentals, and CT scanning and systems sales. Laser Design can also retrofit their high-accuracy laser probes to customers’ existing CMMs, keeping costs down while still providing access to advanced laser scanning technology.”