Apr 5, 2002 : ViaWest Announces Profitability In 2001
📅 - ViaWest Internet Services, Inc., a regional Denver-based ISP, announced today that it has achieved profitability, effective March 31, 2002. A major milestone for ViaWest, the company has reached the profit aim within two and a half years of initial venture capital funding.
With revenue increasing 39 percent in 2001 from 2000, ViaWest (ViaWest.net -> viawest.com -> flexential.com) saw a 58 percent increase in annual recurring revenue. The company expects a continued annual revenue growth rate of approximately 40 percent.
?This occasion is momentous to us not only because of the barriers we have overcome to get here, but because we are one of the few Internet providers that have achieved profitability as opposed to the large number of providers that are still hoping to do so,? said ViaWest CEO Roy Dimoff.
Attributing a conservative growth philosophy to its success, ViaWest has seen a steady increase in sales, and focused on reducing expenses. The company reduced quarterly EBITDA losses 95 percent from first quarter ended 2001 to 2002 due to increased synergies in telecommunications and operating costs resulting from integration. Reducing operating expenses in 2001, the company integrated numerous diverse networks and systems it previously operated as a result of the company's many acquisitions.
?Because ViaWest has practiced conservative growth and has not over-extended its financial resources, the market conditions have provided us with an opportunity to prosper,? said Dimoff.
With revenue increasing 39 percent in 2001 from 2000, ViaWest (ViaWest.net -> viawest.com -> flexential.com) saw a 58 percent increase in annual recurring revenue. The company expects a continued annual revenue growth rate of approximately 40 percent.
?This occasion is momentous to us not only because of the barriers we have overcome to get here, but because we are one of the few Internet providers that have achieved profitability as opposed to the large number of providers that are still hoping to do so,? said ViaWest CEO Roy Dimoff.
Attributing a conservative growth philosophy to its success, ViaWest has seen a steady increase in sales, and focused on reducing expenses. The company reduced quarterly EBITDA losses 95 percent from first quarter ended 2001 to 2002 due to increased synergies in telecommunications and operating costs resulting from integration. Reducing operating expenses in 2001, the company integrated numerous diverse networks and systems it previously operated as a result of the company's many acquisitions.
?Because ViaWest has practiced conservative growth and has not over-extended its financial resources, the market conditions have provided us with an opportunity to prosper,? said Dimoff.
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Company: Via West.net [viawest.net -> viawest.com -> flexential.com]
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