Sep 16, 2004 : Web Host Fusepoint EBITDA Positive
📅 - Managed application and Web hosting provider Fusepoint Managed Services (fusepoint.com -> hostpapa.com) announced on Wednesday that it has achieved a positive earnings before interest, taxes, depreciation and amortization for the first time in the company's history.
Fusepoint says it grew revenue 115 percent in 2003 and doubled its customer base. Earlier this year, the company secured $10 million in a second round of institutional financing from lead investor M/C Venture Partners. Fusepoint said it plans to use the funding to fuel a growth strategy involving operational expansion and potential acquisitions.
"Becoming cash-flow positive is a defining milestone for Fusepoint," says Robert Offley, president and CEO of Fusepoint Managed Services. "The financial stability this represents is a huge advantage for our company as we move forward with our aggressive expansion strategy, including potential mergers or acquisitions. We expect to make an even stronger push into corporate Canada and key vertical markets in the months to come."
In June, Fusepoint opened a data center facility in Montreal.
Fusepoint says it grew revenue 115 percent in 2003 and doubled its customer base. Earlier this year, the company secured $10 million in a second round of institutional financing from lead investor M/C Venture Partners. Fusepoint said it plans to use the funding to fuel a growth strategy involving operational expansion and potential acquisitions.
"Becoming cash-flow positive is a defining milestone for Fusepoint," says Robert Offley, president and CEO of Fusepoint Managed Services. "The financial stability this represents is a huge advantage for our company as we move forward with our aggressive expansion strategy, including potential mergers or acquisitions. We expect to make an even stronger push into corporate Canada and key vertical markets in the months to come."
In June, Fusepoint opened a data center facility in Montreal.
Reads: 1741 | Category: General | Source: TheWHIR : Web Host Industry ReviewsURL source: http://www.thewhir.com/marketwatch/fus091604.cfm
Company: fusepoint.com [fusepoint.com -> hostpapa.com]
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