AIT shares profit with employees – again

AIT Laboratories said Monday morning it is awarding another $1 million in bonus money to employees, bringing their total
take in profit sharing this year to an impressive $3 million.

The Indianapolis-based forensics, clinical and pharmaceutical
testing firm began doling out profit-sharing bonuses to its workers in 2007. But this is the first time they received two
within the same year.

“We like to reward our employees when the company is profitable,” AIT CEO Michael
A. Evans said in a written release. “The employees are the ones responsible for the company being profitable,
so it is the right thing to do to have them share in that success.”

Evans gave employees $2 million in June,
in a surprise, mid-year bonus. The following month he transferred full ownership of the company to employees as part of an
employee stock ownership plan, or ESOP.

AIT this year added more than 170 employees, bringing its nationwide work
force to roughly 365, including 265 at its Indianapolis headquarters on the west side.

company doubled its sales staff in 2009 and entered more than 15 new markets.

The growth
has helped AIT zoom up Inc.’s list of the 5,000 fastest-growing private companies.
Founded in 1990, the firm now ranks 598, up from 1,466 a year ago. The list is based on percentage
growth in revenue.
According to Laboratory Economics, AIT posted sales of $34 million
in 2008, an improvement from $16 million in 2007. The company this year expects revenue to climb another
75 percent, which would mark its sixth consecutive year of double-digit growth.
In February,
the Indiana Chamber of Commerce named the firm its 2009 Small Business of the Year.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}