common sense advisory correction notice
The recent ranking by Common Sense Advisory (CSA) of the Top-50 Language Service Providers listed an incomplete total for Welocalize’s 2010 revenue. Although it was no fault of their own, CSA has been wonderfully supportive in helping us to correct the revenue total and agreed to issue a correction notice. Our total 2010 revenue was US$59.61 million giving us a corrected ranking of #15 in the world in their report. Here is the link to the correction notice on the CSA website, and I have also included it below.
Correction Notice: Welocalize
In May 2011, Common Sense Advisory published a ranking of the Top 50 language service providers (LSPs) in the world (see “The Language Services Market: 2011,” May11). This report contained information about provider growth rates and revenue for both language services and technology.
Description of Corrections
After the report was published, Common Sense Advisory was made aware that the 2010 revenue listed for Welocalize corresponded only to language services revenue, and did not in fact include technology and associated services revenue.
Had the company’s technology and associated services revenue been included, Welocalize would have been listed as #15 in the Top 50 instead of #18, with total revenue from language services plus technology of US$59.61 million for 2010, a significant jump above the services revenue of US$44.71. Table 2, in which the Top 50 companies appear, is located on Page 20 of the report.
Given the company’s prior year’s revenue of US$50.30, the company grew at a rate of 18.50%. This growth rate was more than double the average market growth rate of 7.41% as measured from a sample of 912 language service providers worldwide. This growth rate also would have qualified Welocalize for inclusion on Table 3, which language service providers that outperformed the underlying market growth rate.
In addition, while Welocalize did not appear on our first ranking published in 2005, which was based on 2004 revenue, the company did appear in subsequent rankings starting in 2006, and has appeared every year since its first appearance. Therefore, the company qualified to be mentioned on Page 21, under the bullet titled, “Perennial Performers.”