Fast 50 Program for Colorado Recognizes Commitment to Technology, Market
Longevity; RMI.NET Now Qualifies for National Fast 500
DENVER, Oct. 14 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII), a national
e-business and convergent communications company, recently was named as the
fifth fastest-growing technology company in Colorado -- and the
fastest-growing Internet company in the state -- as part of the prestigious
Deloitte & Touche "Fast 50" Program for Colorado.
Rankings for the Fast 50 were based on the percentage of growth in revenue
from 1994-1998. During this five-year period, RMI.NET's revenues grew
3,874 percent.
"To attain a listing on the Fast 50 is no easy feat, and we at Deloitte &
Touche congratulate RMI.NET for attaining this honor," said Steve Berthe,
partner in the Denver office of Deloitte & Touche. "In today's fast-paced
world of technology, where multi-million dollar technology companies seem to
appear overnight, it's an honor to be named one of the fastest-growing
technology companies. We commend RMI.NET for making the commitment to
technology and delivering on the promise of market longevity."
Winners of the 19 regional Fast 50 programs in the United States are
eligible for the Deloitte & Touche Technology Fast 500 program, which ranks
the nation's top 500 fastest-growing technology companies. In 1998,
13 Colorado companies qualified for the national Fast 500.
"We are honored by this award because it shows that our business strategy
has been successful and that we have experienced sustained growth," said
Douglas H. Hanson, chairman and chief executive officer for RMI.NET. "Our
mission is far from over, however, and we will continue to expand our national
presence and increase our revenues through strategic acquisitions, organic
growth and quality customer service."
Hanson noted that RMI.NET has continued an aggressive growth strategy
beyond the five-year period for which it was recognized through the Fast 50
program. In 1999, it has acquired 13 additional companies nationwide for
$24.6 million. With these additions and previous acquisitions in the latter
half of 1998, the company expects its annualized revenue run rate to be
$42 million. Revenue at the end of 1998 was $10.1 million.
Hanson also noted that the company would continue to focus its business
strategy on providing e-commerce applications, high-speed Internet access, and
web solutions for small and medium-sized businesses.
In addition to revenue growth, the companies recognized in the Fast 50
program must have been in business for five years, and must have had 1994
revenue of at least $50,000. To be considered as a technology company,
honorees were required to produce technology, manufacture a technological
product, be technologically intensive, use unique technology in problem
solving, or devote a high percentage of effort to research and development of
technology.
Other notable Colorado-based companies ranked in the Fast 50 Program for
Colorado include Qwest Communications International, sixth; First World
Communications, ninth; ICG Communications, 16th; Echostar Communications,
21st; and Navidec, Inc., 25th.
About Deloitte & Touche
Deloitte & Touche, one of the nation's leading professional services
firms, provides accounting and auditing, tax, and management consulting
services through 28,000 people in more than 100 U.S. cities. Deloitte & Touche
is part of Deloitte Touche Tohmatsu, a global leader in professional services
with more than 82,000 people in over 133 countries. Deloitte & Touche refers
to Deloitte & Touche LLP, Deloitte & Touche Consulting Group LLC, and related
entities.
About RMI.NET
Denver-based RMI.NET, Inc., formerly Rocky Mountain Internet, is a
national commerce solutions provider focusing on turnkey e-business
applications and convergent communications. RMI.NET has developed and
provides small and medium-sized companies with scalable e-business
capabilities; customized web page development and hosting; nationwide Internet
dialup and dedicated access; Digital subscriber line (DSL) service; and
traditional communication services, including Internet telephony. The company
wholly owns a proprietary portal site and search engine, Infohiway, at
http://www.infohiway.com. For more information on RMI.NET, call (800) 864-4327, or
visit the company's web site at http://www.rmi.net.
This press release might contain forward-looking statements. These
forward-looking statements are subject to risks and uncertainties. Actual
results may differ materially from such forward-looking statements as a result
of risks and uncertainties, which are described in the cautionary statements
section of the company's 10K dated December 31, 1998, and may include other
risks described in all Securities and Exchange Commission filings submitted as
of this date.
SOURCE RMI.Net, Inc.
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Related links:
http//www.rmi.net
CONTACT:
Mark Stutz, Manager, Media Relations,
303-313-0672, mark.stutz@corp.rmi.net, or Steven P. Eschbach,
CFA, Vice President, Investor Relations, 303-308-2272,
steve.eschbach@corp.rmi.net, both of RMI.Net, Inc.
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