RagingWire, Inc., a leading provider of custom managed services and world-class information technology (IT) infrastructure solutions, today announced it has reached sustainable free-cash-flowpositive. The Sacramento-based IT solutions provider has added 50 percent to its overall revenue stream and 70 percent to its customer base during the past six months.
“Achieving predictable free-cash-flow-positive is a major milestone for RagingWire,” said George Macricostas, CEO of RagingWire, which began operations in April 2001.“Reaching free-cash-flow-positive in just over two years is a testament to our solid business model and reassures our clients of our financial viability, thereby validating RagingWire’s commitment to their long-term success.”
RagingWire’s increased sales growth in the first half of 2003 can be directly attributed to providing superior managed IT solutions to its clients, including Fortune 1000 companies. The company reported that revenue for the first and second quarters of 2003 increased by 64 percent compared to the first two quarters of 2002. Similarly, RagingWire’s customer base grew by more than 220 percent during the same period.
“The driving force behind RagingWire’s success has been its ability to deliver the level of quality solutions that clients such as Hitachi Data Systems demand to reduce costs and focus resources on their core business objectives,” said Dave Roberson, a member of RagingWire’s board of directors, and president and COO of Hitachi Data Systems.
“RagingWire has become one of the industry’s leading IT solutions providers by focusing on customer service and by delivering high-quality, flexible solutions to our valued customers,” said Yatish Mishra, president and CTO of RagingWire.
RagingWire Enterprise Solutions (RES) provides highly custom and flexible IT solutions that accommodate the business needs of large, data-intensive enterprise companies. RES operates a reliable and secure Enterprise Data CenterSM facility engineered to provide "five nines" (99.999%) availability and highly scalable power and cooling in conjunction with managed IT solutions that maintain Fortune 1000 and Fortune 500 companies mission-critical back-office IT systems. 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.