The company’s increased revenue in 2011 allowed it to climb two spots on the Rochester Business Alliance’s annual list.
Because of its 25 percent growth in revenue this year, Fibertech Networks LLC, has been recognized as a Rochester Top 100 company by the Rochester Business Alliance, which identifies the fastest growing companies in the region. Listed as number four, Fibertech has had a major transformative year. Up two spaces from last year’s list, the company secured a new investor in Court Square Capital Partners and has set forth strategies to sustain its growth.
In the middle of a downturn economy, Fibertech, which began providing fiber network services in 2000, has been able to expand its fiber-optic networks and service capabilities to its customers in 23 mid-sized markets across the Eastern and Central regions of the U.S. Revenue is projected at $114 million in 2011 over 2010’s $90 million. Past sales growth from year to year used to hover around 28 to 30 percent, but company executives are still pleased with the trends that they are seeing.
“We have very good visibility in the next year’s financials and we know that this revenue will be with us next year,” said John Purcell, chairman and CEO of Fibertech. “We also know that we have sold enough that we are going to grow another 20 percent next year already. The company is very proud of its 25 percent growth in 2011, because it’s strong in the face of this recession.”
As Fibertech forges ahead, it maintains its mission of expanding into markets that meet its strategic criteria. The company has designed its target customer list around key industry verticals that are in dire need of broadband upgrades—government, education, finance, insurance, and healthcare. To reach these organizations and supply them with the best fiber-optic service possible, the company maintains its presence in mid-sized markets that are not saturated with network service providers.
“We would like to expand into the mid-South and we are looking at a couple of other markets,” said Purcell. “Our general rule of thumb goes like this—anything north of Florida and east of the Mississippi.”
Fibertech sees this rule as a guiding point for the company’s growth and how it will conduct future expansions. It is already working on adding 700 total miles to its New Jersey, Philadelphia, and Delaware networks and has plans to move into additional mid-sized markets in the years to come, keeping the company on pace to achieve its annual trend of impressive revenue growth.
About Fibertech Networks
Headquartered in Rochester, N.Y., Fibertech Networks is a leader in providing fiber-optic based network services throughout mid-size cities in the Eastern and Central regions of the United States. Fibertech was founded in May of 2000 and has built metro-area fiber networks in 24 mid-size markets in the Eastern U.S. Further information about the company can be found at www.fibertech.com.