May 8, 2002 : VeriCenter Becomes Cash Flow Positive
📅 - Texas-based enterprise managed services provider VeriCenter (vericenter.com) said today that its business operations became cash flow positive during the first quarter of 2002.
The company said it has delivered seven consecutive quarters of improvement in all major financial metrics, including revenue, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), and cash flow since opening its data center in June 2000. "The key to our growth has been the high quality of our enterprise managed services, and the strong market demand for outsourced hosting of advanced Web applications," said Mike Sullivan, VeriCenter's Senior Vice President of Sales and Marketing. "No other enterprise-class hosting company has achieved sustainable cash flow positive operations. VeriCenter is the first to reach this milestone, and we intend to continue to extend our industry leadership." VeriCenter provides a range of enterprise hosting services that include managed Web hosting, co-location and disaster recovery and business continuity.
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