A History of
When Tom Phillips seized the opportunity to launch Phillips Publishing in 1974 with a $1,000 investment, he was confident the new company would be a success. After all, he had experience in newsletter publishing and a dedication to improving the lives of his customers with the information and solutions he provided through his publications. But Tom never dreamed that his new publishing enterprise would achieve the success that it has over the years.
On January 1, 1974, Tom Phillips founded Phillips
Publishing in the converted garage of his home in
Tom Phillips began Phillips Publishing with a vision: to provide specialized information in an age of specialization. While most of the world was running in the direction of mass media, Tom Phillips realized that people were "drowning in information but starved for knowledge." That's why he established the company as a newsletter business, because newsletters are an ideal medium to provide people with focused "actionable information" and solutions to improve their lives. That was a smart move because over the past quarter century the company has become the largest newsletter publisher in the world, as well as a major diversified information provider through its broad array of print and electronic products and Internet initiatives.
Through Tom Phillips' vision and leadership, the company has focused on dynamic, fast-growing markets where there is a constant need for information, insight and analysis. Phillips strives to be the number one provider of information and advice in the consumer health and investment marketplaces it serves. In the early '90s, Phillips launched a thriving vitamin and nutritional supplement business.
The holding company, Phillips Publishing International, Inc., was created in July 1991. The following year, the original Phillips Publishing, Inc., was reorganized into two separate subsidiaries: Phillips Publishing, Inc., which provides consumers with solutions to improve their health, wealth and careers; and Phillips Business Information, Inc., which offers market-focused communication solutions for business-to-business customers.
In September 1991, the company acquired Hart Publications, Inc., one of the premier publishers in the worldwide oil and gas industry. In October 1998, Hart Publications, Inc. was integrated into Phillips Business Information, Inc. (PBI) to create a unified business-to-business publishing powerhouse.
In January 1993, Phillips launched Eagle Publishing, Inc., the only full-service provider of public-policy publications with a conservative, free-enterprise focus. Due to the unique nature of the political marketplace and the different product lines it offers, Eagle became an independent company, separate from Phillips International, Inc., in the summer of 1999.
In the fall of 1993, Tom Phillips brought the whole Phillips team together for a weekend at Disney World to celebrate 20 consecutive years of success for Phillips International.
In July 1999, the holding company, Phillips Publishing International, Inc., changed its name to Phillips International, Inc. In October 1999, the consumer division, Phillips Publishing, Inc., split into two parts-Phillips Health and Phillips Investment Resources -to give each unit a tighter focus and to provide better service to customers.
In October 2000, Phillips Business Information (PBI) was acquired by VS&A Communications Partners III, LP, the private equity affiliate of New York-based media merchant bank Veronis Suhler. In addition, Hart Publications, a division of PBI, was acquired by Chemical Week Associates, a VS&A Communications Partners II, LP portfolio company.
Phillips employees continually rededicate themselves to provide the highest quality information and services to our customers and to be recognized as the #1 leader in each of our markets.
Company Growth
Throughout its history, the company has grown steadily. Phillips generated close to $300,000 in sales the first year, beginning an unbroken record of sales increases year after year. The company reached the $100 million milestone in 1993. In June 1996, Phillips International, Inc. passed the $1 billion mark in lifetime sales dating back to January 1, 1974, when the company opened its doors for business. Phillips achieved sales of $350 million in 1999.
That well-planned and executed growth has been accomplished in three ways. First, thanks to a team of business professionals unmatched by our competitors, Phillips has achieved rapid growth of existing products. Second, by identifying new and emerging markets, Phillips is able to grow through the launch of new products. Third, the company often acquires products or companies that enable us to provide additional services to our customers.
Another key to the company's growth is our annual planning process. Each Phillips subsidiary spends several weeks in an in-depth review of its markets and its products. Then, budgets for each product are formulated using sophisticated budget models. At annual planning meetings, key managers present their business plans to the corporate leadership in working sessions. The company's annual plan is finalized to serve as a blueprint for profitable growth in the new year.
Phillips International products now reach subscribers
and customers across the
To better serve our customers, the company continues to add talented, energetic and entrepreneurial individuals to our team. We look upon every one of our employees as business builders who respond to the needs and desires of our customers and who serve as the catalyst for our continuing success. In turn, our rapid growth provides great opportunities for each member of our team to advance both personally and professionally.
The company is committed to helping our customers make informed decisions on investment and health topics. We grow because we stay focused on our key objective of enabling our subscribers to improve their quality of life through the information and solutions we offer. Our goal always is to have an impact and make a difference in their lives, and to benefit them for being part of an extended Phillips International family.
Tom Phillips always likes to say that "we work hard and play hard at Phillips." He and the key leadership have worked to create a team environment where people enjoy working together and everyone shares in the company's success. The result is an atmosphere that is both stimulating and rewarding for all Phillips employees. The Phillips team looks forward to exciting, new milestones.
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