Inc. Magazine Features FIS President Giotto

February 16, 2005 FIS President Frank Giotto was among a number of business entrepreneurs featured in an article in the March, 2005 issue of Inc. magazine, a leading business publication. Entitled, "They Just Can't Stop Themselves" the article focused on entrepreneurs who are driven to create one successful company after another. The article explored what motivates these successful people and invited readers to learn from their experiences. The article pointed out that Mr. Giotto had founded several successful companies. These include two fiber optics firms, and a company that manufactures industrial safety devices called force guided relays. Mr. Giotto's principal company, Fiber Instrument Sales, Inc., (FIS) was founded in 1985 and today, FIS has over 11,000 customers from all segments of the fiber optics industry. The company is international in scope, and maintains one of the largest inventories of fiber optic products in the world. A third of FIS is owned by company employees under an employee stock ownership plan (ESOP). As part owners, employees naturally want to work hard for the company, which is another reason for its success. In the article, Mr. Giotto said that another reason for his success is that he likes to hire individuals who are methodical and focused on getting the job done. This enables him to delegate day-to-day operations and to spend much of his time inventing new products. Finally, Inc. asked Mr. Giotto what motivates him to continually try new business ventures, since there is no guarantee of success. Mr. Giotto replied, "If you threw in your fishing line and caught a fish every time, you wouldn't go fishing. Because there wouldn't be a challenge. I make sure my steps are measured. People are willing to follow me because it's not so entrepreneurial that it's risky." Inc. magazine is a leading international business publication that provides articles of interest to business managers and entrepreneurs. The article featuring Mr. Giotto can be read in its entirety on the magazine's website, www.inc.com.

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