Openet Telecom Records Revenue Growth of over 75% to Close Best Financial Year to Date.Business Editors/High-Tech Writers DUBLIN, Ireland & RESTON, Va.--(BUSINESS WIRE)--Sept. 16, 2003 Openet Telecom Closes Fourth Fiscal Year in Its Strongest Position Yet, Marked by Cash Flow Positive Operations on Revenue Growth of over 75% Openet Telecom, a world leader in real-time charging and convergent mediation, today announced end-year revenue growth of over 75% on the previous fiscal year, which runs from July through June. Reflecting the strong financial performance of the company, this revenue growth, supported by strong financial management, has made Openet cash flow positive with full profitability expected next year. With a strong backlog of revenues for the year ahead and almost all of its recent funding round still banked, Openet is positioned for a strong attack on the market moving forward. Openet has further consolidated its strong position in the Real-time Charging and Active Mediation market by signing a number of world-leading tier one operators including Verizon Wireless Cellco Partnership, doing business as Verizon Wireless, owns and operates the second largest wireless telecommunications network in the United States, based on total wireless customers. , Orange Group and Telecom Italia Mobile TIM (Telecom Italia Mobile) is Telecom Italia's mobile phone brand, and runs a GSM, EDGE, UMTS and HSDPA network in Italy and a GSM network with EDGE in Brazil. In Europe, TIM is part of the FreeMove alliance. TIM Peru was sold to América Móvil and rebranded Claro. , along with a string of important European and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. deployments. Openet's partnerships have gone from strength to strength, resulting in land-mark deals with both Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. and Telcordia Technologies Telcordia Technologies, formerly Bell Communications Research, Inc. or Bellcore, is a telecommunications research and development (R&D) company based in the United States and created on January 1 1984 as part of the 1982 Modification of Final Judgment that broke up . In addition, the company's management team has undergone significant reinforcement over the last year with the appointment of market leaders in sales, services and strategy. This overall strategic strengthening is also reflected in Openet's Series C funding round with Orange Ventures and SAIC SAIC - http://saic.com. , building on the strong presence of existing investors Benchmark Capital Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups, including eBay. In 1995, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999 and resulted in one of Silicon and Cross Atlantic Venture Partners. Technologically, Openet has again led the industry by being first to market with an award-winning Real-time Charging and Active Mediation solution - FusionWorks ActiveCharge(TM). Openet's product development and successful sales performance reflect the company's ability to address the wireless 2.5/3G space and emerging technologies including WiFi/WLAN, VOIP (Voice Over IP) A digital telephone service that uses the public Internet as well as private backbones instead of the traditional telephone network. Many companies, including Vonage, 8x8 and AT&T (CallVantage), typically offer calling within the country for a and Push to Talk while remaining focussed on wireline and cable business. "Openet is extremely well positioned for further dramatic revenue growth," stated John Rainger, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Openet Telecom. "Our expanding Tier One customer list speaks for itself and we are enjoying unparalleled market access. I am delighted with our results for the last fiscal, but believe that new challenges await - both for vendors and operators. This presents an opportunity for Openet, since we are in as strong a position as possible to deliver real solutions quickly, efficiently and profitably." Recent milestones for Openet include: 15-Jul-03 Ventelo Norge AS selects FusionWorks Mediation from Openet Telecom 19-Jun-03 Openet Telecom appoints Gary Cuccio as Chairman, underlining continued corporate strengthening 19-Jun-03 Verizon Wireless selects Openet Telecom to provide next generation mediation solution 14-May-03 Openet Telecom to roll out phase 1 of FusionWorks Mediation deployment at Orange Slovensko Orange Slovensko is a member of the global communications group Orange. The Orange Group operates in 19 countries of the world and currently serves almost 44 million customers. 07-Apr-03 Edge Wireless selects Openet Telecom to deliver convergent solution with FusionWorks Mediation 26-Mar-03 Openet Telecom strengthens North American focus with appointment of Rich Evans as VP America 11-Mar-03 Openet Telecom deploying FusionWorks Mediation at Orange Suisse 13-Feb-03 Openet Telecom selected by Makedonski Telekomunikacii for convergent mediation deployment 08-Jan-03 Openet Telecom appoints Jan Wiejak as VP Sales EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. to drive new sales strategy focused on the leading operators 12-Dec-02 Openet Telecom's FusionWorks ActiveCharge wins Product of the Year from Technology Marketing Corporation's Internet Telephony Another term for IP telephony and VoIP. In the late 1990s, some people made a distinction between Internet Telephony and VoIP: Internet telephony referred to voice over the public Internet, while VoIP referred to voice over private IP networks. Magazine 20-Nov-02 Openet Telecom to fulfil Orange Group's mediation, content charging and pre-paid needs 11-Nov-02 Openet Telecom finalises Series C financing round of $15million with Orange Ventures and SAIC Venture Capital Corporation 04-Nov-02 Openet Telecom Launches FusionWorks ActiveCharge, taking mediation into its next generation and Openet beyond the competition 01-Oct-02 Telcordia Technologies enters into agreement with Openet Telecom to resell FusionWorks Mediation 28-Aug-02 Openet appoints Tony Melvin as VP of Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. to extend its lead as a world-class provider of mediation solutions About Openet Telecom Established in July 1999, Openet Telecom is a world-leading provider of real-time revenue generating solutions that enable network operators to maximize the profitability of their network and services. Our products, FusionWorks ActiveCharge and FusionWorks Mediation, enable network operators with diverse networks to easily implement, manage, charge and bill sophisticated services - leading to enhanced profitability and quality of service. With headquarters in Dublin, Ireland and offices in Reston VA, London, Paris, Rome and San Francisco, Openet Telecom has signed customers that include Verizon Wireless, BT, Orange Group and Telecom Italia Mobile. For more information, visit us at http://www.openet-telecom.com |
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