Revenue Growing Fast
For Immediate Release
Rose International e-Business Revenue Growing Fast
ST. LOUIS, Aug 25th, 2000 - Rose International, a leader in technology solutions and Internet consulting, announced today that it has seen its revenue shift dramatically in the last 18 months in concert with the worldwide focus on e-business and Web initiatives.
"The business environment, in general, is very positive. Companies are turning to people like us to exploit Internet technology quickly," said Himanshu Bhatia, Rose International CEO. "We have our share of start-up dot-com customers, but the majority of our work comes from the large incumbents, who have the muscle to not only protect their business, but to expand their reach through this new technology."
While revenue is shifting, the growth is not slowing. Rose anticipates revenue of $34 million in 2000, up from $19.8 million in 1999.
The e-Business initiatives at Rose International account for 55 percent of revenue today, compared with just 39 percent for all of 1999. "Our monthly e-Business revenue run-rate is 80 percent higher than it was in 1999," said Eric Token, Sr. Vice President.
The people at Rose are obviously responsible for this explosive growth, and Rose is anxious to maintain the extremely low turnover rate and re-equip these professionals for the New World. "We have initiatives in place to retrain our legacy and midrange consultants in the Internet technologies," said Token. "By leveraging the existing expertise into these e-business initiatives, our customers reap the benefits and become competitive much faster."
Rose is involved in dozens of active Internet-based projects for clients such as A.G. Edwards, Southwestern Bell Corp., Sportshuddle.com, Integrated Logistics Management Solutions (ILMS), Chevron, Sears, Aon and the Department of Defense, among others. One example is an initiative to automate the tracking of inventory levels, in real-time, over the Internet. This solution utilizes wireless scanners in the warehouse, feeding the Internet application that shares stock levels and shipping information with all members of the manufacturing supply chain. As is the case with many of their initiatives, Rose created the entire solution from concept to operational system. The creative and technical team performed this work at Rose's development center in Central Missouri.
Going forward, it looks like Rose's revenues from new economy projects will continue to grow as a percentage of the total. "The wireless area, both WAP and higher bandwidth technologies such as cable, are going to become strong areas of growth for us in the near future," said Mr. Token.
About Rose International
Founded in 1993, St. Louis-based Rose International is a leader in providing technology and e-commerce solutions to corporations and government agencies nationwide. The company's numerous branch offices have a broad geographic reach, allowing Rose to work with organizations across the country. Rose has received acknowledgments from Deloitte & Touche as the country's 26th fastest growing technology firm and Working Woman magazine as number 491 in the Working Woman 500, among others.