Inflow Attains EBITDA Positive
Denver, CO -- (BUSINESS WIRE) -- Today, Inflow Inc., a leading provider of outsourced data center and managed hosting services for companies with critical applications, announced it reached a major landmark in its drive for profitability with the attainment of company EBITDA positive status for the third quarter of 2003.
"We are very excited to have reached this important step toward complete financial independence," said Mark Hughes, chief financial officer for Inflow. "We have diligently planned for this event and are ahead of schedule, with more positive milestones anticipated soon. Our ability to achieve this financial milestone is a result of our company focus on process and automation, which drives efficiencies while increasing revenue. Our streamlined operations model, combined with our minimal operating costs, continues to fuel our growth."
Inflow generated $12.1m of total revenue in the third quarter, billing 804 customers as of September 30, 2003. Top line revenue increased 15 percent over the prior quarter, driven by significant new customer additions. EBITDA positive status was realized due to increased revenue and continued cost controls.
Hughes said that due to continued, strong new contract bookings in the queue for installation along with a stable expense base, Inflow projects to reach cash flow positive in early 2004.
"Our team has worked incredibly hard toward this very important achievement," said Art Zeile, Inflow chief executive officer. "We want to thank our customers and communities for their outstanding support and for helping us to attain this position. We will continue to focus on providing the best service in the industry."
Inflow provides facilities-based IT solutions to companies with critical business and network applications. Founded in 1997, Inflow opened its first Internet Data Center (IDC) in June 1998 and currently serves more than 800 customers from its IDCs in 12 markets throughout the U.S. Leveraging its expertise in application, network and datacenter management, the company is able to deliver the most reliable, secure, scalable and cost-effective outsourcing solutions available. Core services are offered within Inflow's three primary lines of business: Application Hosting and Management, Business Continuance and Disaster Recovery, and Enterprise Datacenter Management. In its sixth year of business, Inflow generated approximately $50.7 million in total revenues last year. Investors include Meritage Private Equity Funds, Centennial Ventures, Telecom Partners, Spire Capital Partners, The Halyard Capital Fund, GE Capital and PNC Equity.
Inflow has recently received ISO 9001:2000 certification. Lloyd's Register Quality Assurance (LRQA), a worldwide leader in quality systems evaluation, concluded that Inflow should be registered to ISO 9001:2000 as it has successfully completed audits for Inflow's Quality Management System. ISO 9001:2000 is an international standard of quality. Less than one percent of companies in the U.S. are registered or certified to ISO 9001:2000.
For additional information and IDC locations, please visit www.inflow.com or call 877.321.2464. For more information on Inflow's corporate strategy, please call Jim McHose at 303.942.2858.