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Wednesday, May 8, 2002 Forrest Homes recognized in Chronicle Forrest Homes Inc. was included in this year's Atlanta Business Chronicle listing of "Pacesetters - Atlanta's 50 Fastest Growing Private Companies," in the April 5-11 edition. To qualify for the listing, companies must have their headquarters in Atlanta to qualify for the list. In addition, they must have revenue between $1 million and $300 million and must have a two-year growth in sales of more than 50 percent. The rating is based on a weighted growth index formula,designed to even the playing field among companies of different sizes. According to the publication's listing, in the 1999-2001 period Forrest Homes had a 224.75 percent change in revenue and an 88.24 percent change in the number of employees. The company was rated No. 41 in the listing. Noting that Forrest Homes had earned Professionalism Awards from the Greater Atlanta Home Builders Association in 1999, 2000 and 2001, the publication quoted David Evans, the company's chief financial officer, as saying, "We build homes for first-time home buyers. I guess our goals are to put people in houses who didn't think they'd be able to get a house." Evans added that the 35-employee team built by company founder Michael Adamson is "one of the secrets of its success." According to the article accompanying the report, Forrest Homes closed on 175 homes in 2001 and had $28 million in revenue. As a comparison, this year the company expects to close on approximately 350 homes and have about $40 million in revenue. Last year, Entrepreneur Magazine named Forrest Homes as the 12th fastest-growing company in the country. Forrest Homes has its headquarters in Alpharetta and marketing offices in Jonesboro. The company is currently developing and building nine communities in the Metro Atlanta area, including Clayton, South Fulton, Spalding, Bartow and Cherokee Counties. The company emphasizes the building of high-quality, affordable homes in a neighborhood setting.
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