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CINCINNATI, Ohio — June 28, 2004 — Tom Nies of Cincom Systems, Inc., the longest-serving CEO in the computer industry and hailed by former President Ronald Reagan as the epitome of the entrepreneurial spirit of American business, was selected as the Technology Winner of the Ernst & Young Entrepreneur of the Year® program.
The Ernst & Young Entrepreneur of the Year (EOY) program is the world's most prestigious business award for entrepreneurs. The award has become the mark of world-class individuals leading world-class companies. Recognized globally, the Entrepreneur of the Year Award honors the most outstanding entrepreneurs who inspire others with their vision, leadership, and achievement.
The EOY program is organized globally in 50 countries, including 38 regions within the US. An independent panel of judges, comprised of community and business leaders, selected the finalist companies. Award recipients were announced at a black-tie awards banquet on June 24 at the Northern Kentucky Convention Center. Winners in several national categories, as well as the overall national Ernst & Young Entrepreneur of the Year, will be announced at the annual awards gala in Palm Springs, California, in November 2004.
Former national winners in the technology category include Michael Dell (Dell), Steve Case (AOL), Scott McNeeley (Sun), Jeff Bezos (Amazon), Tim Koogle, Jerry Yang, and David Filo (Yahoo!).
Tom Nies started Cincom Systems in 1968 with $600, a card table, and an entrepreneurial dream and grew it into a global organization that now serves thousands of clients on six continents.
Over the last three years, Mr. Nies led Cincom through some of the most challenging economic conditions since the Great Depression, especially in the technology industry. Mr. Nies' leadership and commitment to delivering high value, low risk, and rapid ROI at low customer cost has led Cincom to impressive record-setting financial results for 2002 and 2003.
Cincom's fiscal year 2003 financial performance was the best in its 35-year history. Highlights include:
- A 47 percent increase in new sales
- A 106.8 percent Return on Invested Capital (ROIC)
- Earnings Per Share of $1.75 - double that of 2002 and 10 times that of 2001
- A record profit - more than double 2002's former record-profit year
- The 18th s
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