Virtela Hits Record Financial and Operational Milestones in 2007
Positive Cash Flow and Profits Drive Company Expansion and
Momentum
DENVER, February 26, 2008 - Virtela, the global
network solutions company, today announced it has achieved six
consecutive quarters of positive net income and sustained positive
cash flow for the last four quarters, or all of 2007. With more
than 25% revenue growth year-over-year, Virtela's growth surpassed
all of its top competitors.
As a hybrid Virtual Network Operator (VNO), Virtela enables
customers to benefit from the best in-country network resources
around the globe through a single source. Beyond offering the most
extensive footprint through hundreds of network partners, Virtela's
Global Service FabricSM infrastructure performs intelligent routing
and dynamic failover across networks for optimal performance,
security and resiliency. These unique capabilities insulate
customers from network disruptions such as the undersea cable cuts
in the Middle East and Africa last month, as recently highlighted
in the press.
"Virtela's business model is taking flight," said Michael Suby,
director of Stratecast (a division of Frost & Sullivan).
"Strong year-over-year revenue growth plus consistent and widening
levels of profitability in 2007 are key indicators of this. The
company's virtual network footprint and ever-expanding portfolio of
managed services tailored for geographically distributed businesses
will continue to fuel future growth."
Virtela's product portfolio continues to diversify in 2008 to
complement its core managed network services, which include remote
access, security and IT infrastructure services. The company's WAN
acceleration service, for example, has demonstrated significant
traction, and adoption from key verticals such as manufacturing,
business services and finance continues to climb. New lines of
business, such as managed remote storage and Software as a Service
(SaaS) enablement solutions, represent key opportunities for
Virtela in 2008.
"With the combined strength of our business model, financial
momentum and services expansion, Virtela is well-positioned to
capture a greater share of the managed services market," said Bill
Dodds, vice president of sales and marketing. "We expect our broad
footprint and portfolio of tightly-integrated and
attractively-priced enterprise managed services will gain further
traction with customers and partners, whether they are interested
in end-to-end solutions or plugging gaps in their current
environments."
Contributing to Virtela's strong financial results in 2007 was
continued record growth in sales through channel partners. New
recurring revenue from channels in the Asia-Pacific region
quadrupled, while new recurring revenue from channels in Europe
doubled for the year. The company saw a year-over-year increase of
nearly 40% in new customers served through channel partners.
"We have been very successful helping carriers, system
integrators and VARs around the world fill gaps in both their
geographical coverage and managed network and security services
portfolios," said John Powell, Virtela's vice president of global
channels. "By interconnecting with Virtela, our partners gain a
competitive edge through access to the widest variety of suppliers
and local access solutions, a unique multi-carrier backbone with
100% availability, and a host of advanced services delivered in the
network cloud for excellent economies of scale."
Building off its proven success model in Asia Pacific and
Europe, Virtela is replicating its strategy in the Middle East and
Latin America throughout 2008, including expansion of Regional
Policy Centers (RPCs) to better serve customers and partners
operating in those geographies.
Virtela's leadership is rooted not only in its financial
success and thriving global expansion, but also in the strength and
quality of its operations. Notable benchmarks in 2007
include:
- Global Operations Center Expansion: Virtela opened a new
operations center in Manila, joining centers in Denver and Mumbai
to provide enhanced follow-the-sun coverage.
- Proactive Troubleshooting: 98% of Virtela's trouble tickets are
opened proactively, with Virtela notifying the customer of an
issue, often already resolved.
- First-Touch Resolution: Calls to Virtela's Global Operations
Centers are answered by engineers who will likely resolve the
issue, eliminating the call-back promises, wait time and pass-offs
between support personnel that have become commonplace in the
industry. Average call answer time is only 29 seconds.
- Superior Mean Time to Restore (MTTR): Virtela's MTTR average is
1.86 hours, less than half of the company's 4-hour MTTR service
guarantee.
- Timely Provisioning: Virtela has an industry-leading 95%
success rate for meeting or beating its published provisioning
timeframes for every location worldwide.
- Highly-Efficient Internal Systems: Virtela places local loop
orders within 72 hours of customer order receipt, compared to two
to four weeks for typical carriers.
- Real-Time Pricing Database: Virtela's sophisticated back-end
systems enable automated delivery of accurate price quotes, as
opposed to budgetary pricing typically offered by competitors.
Backed by superior operations, unmatched customer care, and a
unique model that enables greater agility in responding to market
and technology changes, Virtela is leading the charge in providing
sophisticated, efficient and business-critical managed services
worldwide.
About Virtela
Virtela, the world's largest
independent managed services company, offers award-winning
managed services including MPLS and IP-based Virtual Private
Networks (VPNs), Security, Remote Access, and WAN/LAN Device
Monitoring and Management, to some of the most competitive
multinational companies in the world. Offering services in 190
countries, Virtela integrates and manages best-of-breed service
providers through partnerships with 500+ carriers, to address the
unique needs of its customers. Virtela is headquartered in Denver,
Colorado, with Global Network Operations Centers in Denver, Mumbai,
India and Manila, Philippines. For more information, please call +1
(720) 475-4000 or visit www.virtela.net.
Media Contact:
Jane Morrissey
Virtela
720.475.4012 (office)
303.808.7671 (mobile)
jmorrissey@virtela.com
Susan Wise
Greenough Communications
(650) 646-3268 x11
swise@greenoughcom.com