Digital River Receives 2004 Top Profit Award from VARBusiness Magazine
18 June 2004
MINNEAPOLIS--June 18, 2004--Digital River, Inc. (Nasdaq:DRIV), a global leader in e-commerce outsourcing, was selected from among 500 of North America's industry-leading solution providers to receive VARBusiness magazine's 2004 Top Profit Award. Digital River was honored at an awards ceremony for the fourth annual VARBusiness 500 Awards event on June 15, 2004, at the legendary Rainbow Room in New York City.
In 2003, the company generated net income of slightly more than $17 million, or $0.52, which was a $0.54 per share improvement from a loss of $0.02 in 2002. Digital River CEO, Joel Ronning credits the company's talented associates, world-class technology, expertise in growing its clients' online businesses and diligent expense management for the company's continued success.
"Digital River is proud to be recognized by VARBusiness magazine for its outstanding financial performance," said Ronning. "As an e-commerce outsourcer working with more than 40,000 companies, we have developed the best practices that reduce the risks and costs involved in building, managing and growing profitable online businesses for our clients. The strong value proposition we offer our clients is key to the company achieving the outstanding results that were honored by VARBusiness."
Robert C. DeMarzo, VARBusiness magazine's editorial director, explains that the awards event "not only celebrates the vitality of the solution provider community, but also affords a unique occasion that brings together the IT industry's leading solution providers, consultants, integrators and service organizations to meet with sponsoring vendor companies and the VARBusiness editorial and management teams."
The VARBusiness 500 awards event celebrates the top-placed firms among North America's approximately 90,000 third-party companies that help corporations and institutions best apply IT strategies and systems. The definitive revenue-based ranking is derived from formal research among solution providers, IT consultants, integrators and service organizations.
About VARBusiness Magazine
For the past 17 years, VARBusiness' strategic resources have been the gateway to the Solution Provider community. VARBusiness provides strategic insight for technology integrators through industry-defining research, in-depth editorial, channel events and innovative Web services, enabling these IT professionals to make educated decisions for their businesses, partnerships and customers. VARBusiness has been the recipient of numerous industry awards for both editorial content and design. Additional information about VARBusiness products, events and services, is available at its Web site, http://www.varbusiness.com/.
About Digital River, Inc.
Digital River, Inc., a global leader in e-commerce outsourcing, builds and manages online businesses for more than 40,000 software publishers, manufacturers, distributors and online retailers. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The company's comprehensive platform offers site development and hosting, order management, fraud prevention, site merchandising, advanced reporting and analytics, product fulfillment, e-marketing and multi-lingual customer service.
Founded in 1994, Digital River is headquartered in Minneapolis with offices in Chicago, Mountain View, California, London, and Cologne, Germany. For more details about Digital River, visit the corporate Web site at www.digitalriver.com or call 952-253-1234.
