Public Company Spenders on R&D - Top 25
Ranked by R&D spending as percent of revenue | List information taken from the 2013 Business Information Guide
Source: U.S. Securities and Exchange Commission filings, annual reports, company representatives, and websites. If you were not contacted for this list but would like to be in the future, please contact research@tcbmag.com
Note: List only includes companies with at least $1 million in revenue. Not all public companies report research and development spending. Only those that report it are on this list. American Medical Systems Holdings, Inc., and FSI International, Inc., both of which appeared on last year's list, were acquired in June 2011 and October 2012, respectively.
1 | SurModics, Inc.
9924 W 74th St.
Eden Prairie, MN 55344
952-500-7000 • surmodics.com
| 1979
113
| 45.29
| $30,700
| $67,781
| $36,063
| ($12,778)
($17,518)
| Multiple
| 9/30/11
| Manufactures medical technology products, including drug-delivery and surface-modification technologies for the health care industry
|
2 | Aetrium, Inc.
2350 Helen St.
North St. Paul, MN 55109
651-770-2000 • aetrium.com
| 1982
59
| 27.61
| $2,487
| $9,009
| $3,022
| ($4,748)
($4,781)
| Tim
Foley
| 12/31/11
| Supplies test handlers and reliability test equipment used in the semiconductor manufacturing industry
|
3 | MakeMusic, Inc.
7615 Golden Triangle Dr., Ste. M
Eden Prairie, MN 55344
952-937-9611 • makemusic.com
| 1990
115
| 27.29
| $4,638
| $16,994
| $5,524
| $4
$139
| Paul
Carlson
| 12/31/11
| Develops and markets software for music education and music notation
|
4 | Wireless Ronin Technologies, Inc.
5929 Baker Road, Ste. 475
Minnetonka, MN 55345
952-564-3500 • wirelessronin.com
| 2000
71
| 22.82
| $2,116
| $9,274
| $2,864
| ($6,738)
($6,712)
| Ben
Nielsen
| 12/31/11
| Wireless communications development company that provides dynamic digital signage software and service solutions to the retail and service markets
|
5 | XRS Corporation
965 Prairie Center Dr.
Eden Prairie, MN 55344
952-707-5600 • xrscorp.com
| 1985
210
| 17.64
| $11,119
| $63,031
| $6,488
| ($2,798)
($3,492)
| Odell
Tuttle
| 9/30/11
| Provides cloud-based mobile compliance and fleet management software solutions to the trucking industry that help reduce costs, increase safety, attain compliance with governmental regulations, and improve customer satisfaction--all through mobile devices
|
6 | Northern Technologies International Corporation
4201 Woodland Road
Circle Pines, MN 55014
763-225-6600 • ntic.com
| 1975
58
| 17.01
| $3,876
| $22,782
| $4,364
| $3,576
$4,570
| Paula
Winkler
| 8/31/12
| Develops, manufactures, and markets proprietary corrosion-inhibiting products under the brand name Zerust for the packaging and metal processing industries
|
7 | Digital River, Inc.
10380 Bren Road W
Minnetonka, MN 55343
952-253-1234 • digitalriver.com
| 1994
1,419
| 16.79
| $66,862
| $398,140
| $60,844
| $17,167
$20,450
| Paula
Winkler
| 12/31/11
| Provides e-commerce services and Internet-based software delivery for software publishers, manufacturers, distributors, and retailers
|
8 | Digi International, Inc.
11001 Bren Road E
Minnetonka, MN 55343
952-912-3444 • digi.com
| 1985
691
| 15.50
| $31,642
| $204,160
| $27,825
| $11,019
$17,037
| Joel
Young
| 9/30/11
| Provides a range of wireless products, a cloud computing platform tailored for devices, and development services to help customers get to market fast with wireless devices and applications
|
9 | Image Sensing Systems, Inc.
1600 University Ave. W, Ste. 500
St. Paul, MN 55104
651-603-7700 • imagesensing.com
| 1984
120
| 14.49
| $4,424
| $30,521
| $3,630
| ($10,017)
($13,048)
| Kiran
Govindarajan
| 12/31/11
| Provides software-based detection solutions for the intelligent transportation systems sector and similar markets including security, police, and parking
|
10 | Cardiovascular Systems, Inc.
651 Campus Dr.
St. Paul, MN 55112
651-259-1600 • csi360.com
| 1989
290
| 13.79
| $11,374
| $82,490
| $8,940
| ($16,790)
($14,466)
| Robert
Thatcher
| 6/30/12
| Assesses, develops, and commercializes medical devices for treating cardiovascular disease
|
11 | Urologix, Inc.
14405 21st Ave. N
Plymouth, MN 55447
763-475-1400 • urologix.com
| 1991
94
| 12.86
| $2,189
| $17,027
| $2,238
| ($4,695)
($4,145)
| Michael
Hoch
| 6/30/12
| Develops, manufactures, and markets minimally-invasive medical products for the treatment of urological disorders
|
12 | CyberOptics Corporation
5900 Golden Hills Dr.
Golden Valley, MN 55416
763-542-5000 • cyberoptics.com
| 1984
193
| 12.74
| $7,781
| $61,087
| $7,354
| $4,357
$5,688
| Brendan
Hinnenkamp
| 12/31/11
| Manufactures and supplies optical process control sensors and inspection systems
|
13 | MGC Diagnostics Corporation
350 Oak Grove Pkwy.
St. Paul, MN 55127
651-484-4874 • mgcdiagnostics.com
| 1986
124
| 12.59
| $3,659
| $29,067
| $3,606
| ($152)
($133)
| Paula
Winkler
| 10/31/11
| Designs, develops, manufactures, services, and markets non-invasive cardio-respiratory diagnostic systems
|
14 | St. Jude Medical, Inc.
1 St. Jude Medical Dr.
St. Paul, MN 55117
651-756-2000 • sjm.com
| 1976
16,000
| 12.56
| $705,064
| $5,611,696
| $631,086
| $825,793
$1,114,244
| Paula
Winkler
| 12/31/11
| Designs, manufactures, and distributes a wide range of medical devices for global use
|
15 | Vascular Solutions, Inc.
6464 Sycamore Ct.
Maple Grove, MN 55369
763-656-4300 • vascularsolutions.com
| 1997
355
| 11.38
| $10,240
| $89,956
| $9,524
| $9,739
$15,586
| Charmaine
Sutton
| 12/31/11
| Medical device company focused on bringing solutions to interventional cardiologists and interventional radiologists
|
16 | SPS Commerce
333 S 7th St., Ste. 1000
Minneapolis, MN 55402
612-435-9400 • spscommerce.com
| 1996
474
| 10.07
| $5,838
| $57,969
| $4,349
| $13,703
$1,135
| Mike
Gray
| 12/31/11
| Provides on-demand supply-chain management software
|
17 | Fair Isaac Corporation (FICO)
901 Marquette Ave., Ste. 3200
Minneapolis, MN 55402
612-758-5200 • fico.com
| 1956
2,023
| 10.03
| $62,129
| $619,683
| $73,581
| $71,562
$127,337
| Andrew
Jennings
| 9/30/11
| Provides products and services that enable businesses to predict customer behavior and make smarter decisions, cut fraud losses, manage credit risk, and build market share
|
18 | Uroplasty, Inc.
5420 Feltl Road
Minnetonka, MN 55343
952-426-6140 • uroplasty.com
| 1992
108
| 9.24
| $1,900
| $20,562
| $1,720
| ($4,250)
($4,266)
| Susan
Holman
| 3/12/13
| Develops, manufactures, and markets minimally invasive products for the treatment of voiding dysfunctions
|
19 | Stratasys, Inc.
7665 Commerce Way
Eden Prairie, MN 55344
952-937-3000 • stratasys.com
| 1989
500
| 9.21
| $14,360
| $155,894
| $9,755
| $20,626
$29,006
| Lawrence
Doerr
| 12/31/11
| Develops and markets 3-D printing, rapid prototyping, and direct digital manufacturing systems for original equipment manufacturers in several industries
|
20 | Medtronic, Inc.
710 Medtronic Pkwy.
Fridley, MN 55432
763-514-4000 • medtronic.com
| 1949
45,850
| 9.21
| $1,490,000
| $16,184,000
| $1,472,000
| $3,617,000
$4,145,000
| Richard
Kuntz
| 4/30/12
| Designs, manufactures, and distributes a wide range of medical devices for global use
|
21 | NVE Corporation
11409 Valley View Road
Eden Prairie, MN 55344
952-829-9217 • nve.com
| 1989
58
| 9.10
| $2,600
| $28,579
| $1,269
| $11,381
$14,273
| John
Myers
| 3/31/12
| Develops and sells devices using spintronics, a nanotechnology that uses electron spin rather than electron charge to acquire, store, and transmit information
|
22 | Techne Corporation
614 McKinley Pl. NE
Minneapolis, MN 55413
612-379-8854 • techne-corp.com
| 1976
847
| 8.87
| $27,912
| $314,560
| $25,985
| $112,331
$166,209
| Monica
Tsang
| 6/30/12
| Develops, manufactures, and sells hematology controls and biotechnology products for research and diagnostics
|
23 | IntriCon Corporation
1260 Red Fox Road
Arden Hills, MN 55112
651-636-9770 • intricon.com
| 1977
599
| 8.70
| $4,876
| $56,058
| $4,485
| ($1,425)
($1,192)
| Chris
Conger
| 12/31/11
| Designs, develops, and manufactures miniature and micro-miniature body-worn medical and hearing products
|
24 | Rimage Corporation
7725 Washington Ave. S
Edina, MN 55439
952-944-8144 • rimage.com
| 1978
246
| 8.68
| $7,257
| $83,634
| $6,506
| $2,835
$4,448
| Samir
Mittal
| 12/31/11
| Helps businesses deliver digital content directly and securely to customers, employees, and partners; its digital publishing solutions archive, distribute, and protect content on CDs, DVDs, and Blu-ray discs
|
25 | Electro-Sensors, Inc.
6111 Blue Circle Dr.
Minnetonka, MN 55343
952-930-0100 • electro-sensors.com
| 1968
28
| 7.69
| $470
| $6,115
| $656
| $548
$740
| Brad
Slye
| 12/31/11
| Manufactures a complete line of motion monitoring and speed control systems for industrial machinery, including speed sensors, speed-sensitive switches, tachometers, counters, and speed-to-analog converters
|
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