VeriCenter, Inc., a leading managed service provider, today announced results for the second quarter of 2006. For the quarter, the company had revenues of $15.5 million, up 26 percent year over year and 7 percent sequentially, representing the 24th consecutive quarter of sequential revenue growth dating back to the inception of the Company in 2000. VeriCenter also reported positive EBITDA (earnings before interest, taxes, depreciation and amortization) for the 19th consecutive quarter.
"Our record of quarterly revenue growth over six full years is unmatched in our industry," said Gray Hall, CEO and president of VeriCenter, Inc. "In addition to strong revenue growth in the second quarter of 2006, we also achieved a record level of new bookings which should allow us to continue growing revenue at the current rate."
VeriCenter’s 26% annualized growth rate for Q2 2005 to Q2 2006 reflects pure organic sales growth as the company’s most recent acquisition of Minneapolis-based Agiliti, Inc. was completed in Q1 2005.
"Few companies demonstrate the ability to successfully grow organically and also by acquisition," said Hall. "The company’s 26% annual growth rate on the heels of our successful acquisitions and integration of Sprint E|Solutions, Dell Host, and Agiliti puts VeriCenter among a select group of high-growth companies with the proven ability to grow consistently by both means."
Q2 2006 Highlights
- 24th consecutive quarter of sequential sales growth.
- 19th straight EBITDA-positive quarter.
- Record level of new bookings for third consecutive quarter.
- 57 new customers. The new wins included Bodycote International PLC, who selected VeriCenter to deliver managed services for both a Microsoft Exchange environment and an Enterprise Resource Planning (ERP) environment for 7,000+ users on a VM platform.
- Capacity expansion in four data centers. Construction in Dallas and Boston is complete, and new customers have been successfully deployed. Construction is underway in Atlanta and Denver.
- Introduction of Premier Services, a dedicated technical support offering for complex enterprise customer environments.
About VeriCenter, Inc.
VeriCenter, Inc. is a leading managed service provider that delivers a comprehensive range of enterprise hosting and infrastructure outsourcing services. Multisourcing of managed services includes management for servers, storage, networks, appliances, databases and security. VeriCenter centrally delivers these services through automated systems via our data center facilities located in Atlanta, Boston, Dallas, Denver, Houston, and Minneapolis – St. Paul. Clients benefit from reduced network management costs and improved overall business operations by leveraging VeriCenter’s infrastructure and managed services expertise.
