Greenwich Tech Closes Half

For the first-half of the year, GTP reports revenues of about $29.7 million; announces partnership program

July 20, 2001

2 Min Read

WHITE PLAINS, N.Y. -- Greenwich Technology Partners (GTP), a leading provider of network infrastructure consulting and engineering services, reported record-setting financial results for the three-month and six-month periods ending June 30, 2001. The company increased quarterly revenues by 10 percent sequentially, compared to the first quarter of 2001, and by 78 percent compared to the second quarter of 2000. For the first-half of the year, GTP reported revenues of approximately $29.7 million compared to $13.8 million in the same six-month period last year, for a growth rate of 116 percent. Additionally, GTP recorded gross margins of 45 percent - the highest in the firm's history, and for the first time within a quarter generated cash from operations. "Customers are operating under strict budget constraints and they have been the main beneficiaries of GTP's operational efficiency as we have been able to keep prices down and our value proposition very high," said Joseph P. Beninati, GTP's chairman and chief executive officer. "For instance, we brought our network engineering capabilities to their all time highest levels by taking advantage of our powerful recruiting capability in a weak economy. The result of our engineering and recruiting prowess was for GTP to record its highest quarterly utilization rates. Such high utilization rates allowed us to meet our profit objectives while simultaneously offering our clients competitive prices for the most advanced solutions. This virtuous cycle allows GTP to continue to recruit the best people in the industry, produce market-leading results for our shareholders while offering leading-edge, competitively-priced solutions for our customers." GTP Announces Global Partnership and Alliance Program (GPAP) with Next-Generation Technology Providers While strengthening its financial condition and market-leading position, GTP entered into separate agreements in its Global Partnership and Alliance Program (GPAP) that complement its largest and most established partnership with Juniper Networks. The companies added to the GPAP include: Aprisma Management Technologies, Cisco Systems, Datatec, Dorado Software, Enterasys Networks, Extreme Networks, Infovista, NetScout Systems and Riverstone Networks. Greenwich Technology Partners

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