|PowerNet Global (PNG) agent 1-877-550-5918|
Cincinnati, OH, October 21, 2004 – Inc. Magazine the premier publication for small and medium-sized businesses, released its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. Integrated communications provider, PowerNet Global Communications, ranks #469 on the list with four/five year average annual sales growth of 79%/ 316% total growth and also ranked at #15 in the top 25 companies by revenue. The Inc. 500 Special Issue will appear on newsstands October 26, 2004.
Bernie Stevens founded PNG Telecommunications, Inc. in 1992 in the basement of his West Chester (Cincinnati-area suburb) home. After telecommunications deregulation, he recognized the opportunity to resell long distance service. In 1999, the company changed its name to PowerNet Global Communications to reflect its growing spectrum of communications services. Stevens is a member of the Comptel/Ascent Alliance and is actively involved in several charitable foundations.
“The Inc. 500 ranking is a tribute to the hard work and dedication of our employees and sales groups. I’m honored to lead a company of individuals who understand the value of teamwork and conducting business with our core values guiding our actions,” states President/CEO Bernie Stevens.
To be eligible for this year’s Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for the Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies were ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
“The best thing you can say about this year’s crop of Inc. 500 entrepreneurs is that they didn’t buy into the hype,” says Inc. editor-in-chief John Koten. “When people were practically giving away funding in the late 1990s, these companies didn’t overextend, and when everyone hit the panic button a few years later, they stayed calm and seized the opportunity.”
About PowerNet Global
Founded in 1992, integrated communications provider PowerNet Global (www.powernetglobal.com) works with many of the country’s top communications agents and affinity groups to offer a wide range of integrated voice, data, and Internet solutions nationwide to residential and commercial customers. Leveraging its reputation in the industry with strong carrier partnerships, PowerNet Global offers tremendous opportunities for carriers, resellers, agents, and affinity groups. The company is headquartered in Cincinnati, and has offices in Jamestown, New York and Chicago. PowerNet Global has achieved consistent growth— throughout the telecom industry downturn—by developing and marketing an expanding array of competitive products, and maintaining a clear focus on delivering unrivaled customer support.
Lesley Hern Marketing Communications Specialist PowerNet Global Communications 1-800-860-9495 x14778