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Originally published Sunday, June 14, 2009 at 12:00 AM

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Some facts behind the stats

Last fall's stock-market swoon had a devastating effect on the Northwest 100. Out of last year's class, 18 companies were disqualified from...

Last fall's stock-market swoon had a devastating effect on the Northwest 100. Out of last year's class, 18 companies were disqualified from this year's ranking because their shares had fallen below $2, even though several stocks spent only a day or two in Pennystockland. They'll be out of the running next year, too, since the rules require two full years above $2.

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Despite the economic headwinds, 14 companies muscled their way into this year's Northwest 100. Only a few, such as Isilon Systems and NightHawk Radiology Services, were recent IPOs. Most have been around awhile but never before made their way into the top tier.

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The popping of the real-estate bubble dragged down a lot of Northwest banks, which suffered some of the biggest drops among the companies ranked both this year and last. Riverview Bancorp fell 33 places (19th to 52nd), Sterling Financial fell 35 (40th to 75th), Banner sank 56 places (30th to 86th) and City Bank of Lynnwood — which ranked sixth last year — tumbled all the way to 83rd, a drop of 77 places.

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This year's biggest improver: Bothell-based SonoSite, which leapt 75 places from 91st to 16th. The maker of medical ultrasound devices has benefited from the successful launch of new handheld devices, expense controls and debt buyback.

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Several of last year's Northwest 100 were acquired or taken private last year, removing them from contention. They include Safeco (last year's No. 41), bought by Liberty Mutual; Getty Images (94), bought by private-equity firm Hellman & Friedman; Idaho's AMIS Holdings, bought by ON Semiconductor; and Auburn-based Zones, taken private by its CEO.

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Some companies on this year's Northwest 100 — er, 87 — list won't be around in 2010. Puget Energy was acquired by an investor group in February, and WSB Financial went bankrupt after its operating subsidiary, Westsound Bank, was seized by regulators.

Copyright © 2009 The Seattle Times Company

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