by Gwen Moritz
Posted 5/23/2011 09:00 am
Updated 11 months ago
After dropping to No. 3 when the Great Recession slashed fuel prices and tighter corporate aviation budgets, Truman Arnold Cos. came roaring back to the top spot in Arkansas Business' annual list of the state's largest private companies.
It is a quirk of the list that it has always recognized Texarkana companies on either side of the Arkansas-Texas border, and TAC is on the Texas side. (So is No. 13 E-Z Mart Inc.)
TAC reported almost $2.3 billion in revenue during the fiscal year that ended Sept. 30, an 80 percent increase over fiscal 2009 and a number that is certain to be dwarfed in the current fiscal year thanks to record-high petroleum prices.
Stephens Inc., No. 1 last year, dropped one spot. We continue to use the most recent revenue estimate we can find for the Little Rock investment bank, a three-year old figure from The Gale Group of $1.835 billion. And last year's No. 2, Riceland Foods Inc. of Stuttgart, fell to No. 5 after revenue dropped 13.5 percent in the fiscal year that ended July 31.