InFlow Inc., a provider of managed Web hosting and outsourced IT services, says its customer count and revenues for its Raleigh Internet Data Center are growing substantially.
Second-quarter 2002 recurring revenue was $1.16 million, a 53 percent increase over the same period last year. InFlow says revenue growth was driven primarily by new customer wins, bringing the total customer count to over 85. Among the new customers are Rockwell Scientific Company, CareAnyware and Bell & Howell.
Second-quarter earnings before interest, taxes, depreciation, and amortization (“EBITDA”) grew to $160,000, a 99.4 percent increase over first quarter 2002. InFlow attributes the Raleigh IDC EBITDA growth to increased revenues and reductions in network, infrastructure and personnel expenses.
For the 11th consecutive quarter, Inflow also says it delivered 100 percent availability in facility and Internet access services. Mean time to install customers improved to 18 days and, excluding the effect of third-party provisioning delays, mean time to install was nine days.
Some of Inflow’s more recognizable customers in the Raleigh IDC include Pinpoint Networks, Arsenal Digital Solutions, N.C. State University and the N.C. Department of Public Health.
Inflow provides facilities-based IT solutions to companies with critical business and network applications. Founded in 1997, Inflow opened its first IDC in June 1998 and currently serves more than 680 customers from in 12 markets throughout the U.S. Core services include colocation, network management, managed security services, application management, data storage and InflowNet…a proprietary Internet access service that guarantees availability.
In June 2002, Inflow completed an equity financing of $35 million, bringing total capital raised to more than $300 million. Investors include Meritage Private Equity Funds, Centennial Ventures, Telecom Partners, Spire Capital Partners, The Halyard Capital Fund, GE Capital and PNC Equity.
Inflow: www.inflow.com
