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VeriCenter, Inc., Reports Revenues for Q4 and Fiscal Year 2005.
2006-02-08, HostMan.biz VeriCenter, Inc., today announced results for the fourth quarter and fiscal year 2005. For the quarter, the company had revenues of $14.4 million, up 35% year over year and 11% sequentially. For all of 2005, VeriCenter had revenue of $50.3 million compared to revenues of $38.1 million in 2004, an increase of 32%. "2005 was our first year to reach the $50 million revenue plateau," said Gray Hall, president and CEO of VeriCenter. "During the year we completed our third major acquisition, integrated our expanded operations, and accelerated our rate of organic growth across our larger national footprint of data centers and managed services operations." In 2005, VeriCenter benefited from significant growth in the number of companies transitioning their mission-critical enterprise operations to an IT managed services partner. Outsourcing has become a common tactical move to reduce operational costs, as organizations find the right balance between internal and external IT capabilities. "VeriCenter enters 2006 with a strong pipeline of new business. We expect to continue growing and executing on our strategy to deliver premier enterprise managed IT services," added Hall. 2005 Highlights * Acquired St. Paul-based Agiliti, Inc., a premier provider of enterprise hosting with a 10,000 square foot data center facility and strong regional customer base * Added 115 new customers, including Loomis Fargo, Frontier Airlines, Skillsoft, Berlitz, CHRISTUS St. Catherine Hospital, and Enterasys Networks * Expanded services for existing customers, including Cadbury Schweppes, Ernst & Young LLP, Kodak, Yahoo!, Lifetouch, GX Technology, Reebok, Minute Clinic, Stewart Mortgage Information, and U.S. Dept. of Justice * Houston Business Journal recognized VeriCenter as the fastest-growing small business in the Houston metropolitan area, achieving 287 percent year-over-year revenue growth in 2004 over 2003 * Inc. magazine listed VeriCenter on the 2005 Inc. 500, a prestigious list of the nation's fastest-growing private companies. VeriCenter ranked No. 171 with 2004 revenues of more than $38 million and a three-year growth rate of 626 percent |
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