DALLAS -- July 26, 2005 -- Dallas-based ONIT Communications, Inc., a provider of enhanced Voice over Internet Protocol (VoIP) services to business customers worldwide, announced a quarterly recurring revenue increase of over 300% through the second quarter of 2005. Organic growth remained strong while the acquisition of Tel West Network Services Corporation (Tel West) select VoIP corporate customers in Texas and the customers and network assets of Intur.net, Inc. helped contribute to the largest quarterly recurring revenue increase in the company's history. This represents ONIT's third consecutive quarter of triple-digit growth.
As an emerging leader in the hosted VoIP market, ONIT has grown its subscriber base ten-fold through the first half of 2005. "Our position as a market-leading hosted VoIP provider continues to solidify," said ONIT Vice President of Marketing, Darren Vader. "Our acquisition strategy is providing growth in areas that extend our ability to provide a full range of services to our small and mid-size business customers." According to Vader, this range of services includes a variety of VoIP solutions, as well as web hosting, server co-location, and hosted email services.
"As the market demand for Voice over IP services continues to grow, we will see a convergence of like services. VoIP is on the forefront of the next communication revolution and it's happening now," said Vader. "Traditional IP service providers, such as web hosting companies and ISP's, are beginning to struggle with their efforts to provide more sophisticated voice services. ONIT is in a position to work with these organizations to provide their customers with our affordable advanced VoIP services while extending additional services to our current customers."
ONIT Communications offers its customers a package of broadband telephony and high-speed Internet connectivity for a flat rate that typically represents a 50 to 75 percent cost savings. Additionally, the company's customized software solution is designed to ensure that new customers experience a smooth transition from traditional PBX phone service to IP telephony without interruption of day-to-day business operations.
About ONIT Communications
ONIT Communications provides hosted VoIP solutions to business customers worldwide. The company leverages a powerful Internet Protocol (IP) network combined with IP telephony applications and superior service to offer integrated, feature-rich voice and data communication services at an affordable price. ONIT delivers a flat-rate broadband telephony service that includes web-based call management, simplified billing, free long distance, high-speed Internet connectivity and technical support for remote offices. Customers easily transition from traditional PBX's to ONIT's IP phone service without interruption of day-to-day business operations. For more information, please visit the ONIT website at www.ONIT.com.
