Next year, the company's target is to double revenues to $10 million by acquiring one or two other companies and continuing its growth rate of 30 percent to 40 percent, he said. Welocalize develops software to support foreign languages so clients can release their products internationally.

Yewell said he is in discussion with at least two possible acquisitions. He said Welocalize is concentrating its acquisition efforts on several areas, including Boston; Austin, Texas; the Bay area in California; Seattle and Ireland.

"These are good high-tech markets with a good pool of clients," he said.

Yewell said a "big reason" for his company's growth -- four new contracts worth a total of $245,000 this quarter -- is that Welocalize made its cutbacks earlier than most.

"We had our layoffs two years ago," Yewell said. "There are companies making layoffs now, and it's too late."

Welocalize specializes in four industries or "verticals": life sciences, eLearning, storage and supply chains. Yewell said the company chose these areas after grouping current clients by industry and analyzing six to eight industries to see their growth potential and need to "go international." The life sciences practice is the newest, launched in July.

Revenues are up industry-wide, Yewell said, noting that large publicly traded globalization companies are stable. Lionbridge Technologies, a globalization company in Waltham, Mass., with 1,170 employees, reported a 24 percent increase in revenues, to $30.9 million, for the quarter ended March 31, for example.

Frank Taylor, CEO of LearnWright in Rockville, said his company chose Welocalize after an analysis of vendors and a Request For Proposal process. LearnWright, which provides instructional products and training for the pharmaceutical and healthcare industries, is one of Welocalize's newest clients. Taylor, who would not name other contenders for the contract, said that at least one other proposal came from a large globalization company.