RagingWire Achieves Sustainable Profitability
9 December 2004
SACRAMENTO, California -- Dec. 9, 2004 -- RagingWire Enterprise Solutions, Inc. (RES), an IT outsourcing provider, today announced it achieved sustainable profitability in September 2004. RES has averaged 126 percent fiscal year-over-year revenue growth in its initial 3½ years of business operations. The privately held company provides highly custom and flexible IT solutions to Fortune 500 and Fortune 1000 clients like NVIDIA® Corporation, Flextronics International, and Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Inc. (NYSE: HIT).
The milestone is the result of revenue generated from a host of IT managed services that enable RES’ customers to increase efficiency, lower operating costs, and focus on their core business objectives.
“Reaching profitability is a testament to RES’ solid business model, our strong focus on quality customer service, and commitment to delivering total, end-to-end solutions that fit our clients’ unique business environments,” said George Macricostas, CEO of RES. “As a result, we have a proven track record of working closely with our clients to design and implement cost-effective solutions that are fully aligned with both their IT requirements and top business goals.”
Despite the high-tech industry’s adverse market conditions in recent years, RES continues to prevail. The company has experienced a 214 percent annualized client growth rate since 2001. By achieving profitability, RES sets itself apart from the competition as a reliable, financially viable IT services provider.
“Mounting price pressures and increased competition in the marketplace make it too risky for top management to consider doing business with an organization that does not have a solid financial track record,” said Dave Roberson, president and COO of Hitachi Data Systems and member of RES’ board of directors. “Profitability is a key differentiator for any organization, especially in the IT services industry. This milestone is yet another step in legitimizing the RES brand and further establishes the company as a proven provider of highly available, secure and scalable IT solutions.”
Furthermore, achieving net income strengthens RES’ ability to attract high quality enterprise customers. “RES’ success hinges on our ability to deliver world-class, innovative IT solutions that meet our clients’ overall business needs to ensure their continued competitiveness and increased market share,” said Yatish Mishra, president and CTO of RES. “Achieving net income further positions RES as an emerging player in the IT outsourcing industry.”
About RagingWire
RagingWire Enterprise Solutions, Inc. (RES) provides highly custom and flexible managed services and world-class IT infrastructure solutions that accommodate the business needs of large, data-intensive enterprise companies. RES operates a reliable and secure Enterprise Data CenterSM facility that offers “five nines” (99.999%) availability and highly scalable power and cooling in conjunction with managed IT solutions that maintain Fortune 1000 companies’ mission-critical, back-office IT systems and applications. RES enables its clients to reduce their operating costs, speed time to market, and focus on their core competencies. For more information about RES, access www.ragingwire.com.
