U.S.-based IT infrastructure integrator continues to expand despite challenging economic climate
Forsythe Technology, Inc., a privately-held, 100-percent employee-owned IT infrastructure integrator, today announced the online and print publication of its annual report, which features a variety of client solution case studies as well as its financial results for 2008, its 38th consecutive profitable year. Forsythe's 2008 annual report records revenues of $700 million, a 10-percent increase over 2007, and profits of $18 million, which are consistent with its 2007 earnings. Forsythe, which experienced 10 percent personnel growth in 2008, was recognized in September 2008 as one of Consulting magazine’s Best Firms to Work for in the small consulting firms category. Forsythe is also listed among the VARBusiness 500 top IT solution providers and the Monitor100 top finance and leasing companies for 2008 and 2009.
In 2008, despite a challenging economic climate, Forsythe continued to make investments in its people and its operations in order to better help its clients optimize the cost, manage the risk and improve the performance of their IT infrastructure. These included:
- The acquisition in April 2008 of the storage integration business assets of More Group, Inc., an employee-owned New England-based storage integration company founded in 2004.
- The launch in June 2008 of Forsythe Technology Canada, with headquarters just outside Toronto and offices in Calgary, Edmonton, Vancouver and Winnipeg.
- The successful negotiation in December 2008 of a $97.5 million, three-and-a-half-year loan agreement for general working capital and in order to be able to capitalize upon appropriate market opportunities, including acquisitions and other investments for growth. Forsythe has made use of similar loan agreements for more than two-thirds of its 38 years of continually profitable operations.
Forsythe’s annual report is available online at www.forsytheannualreport.com. It is also available as a PDF at http://www.forsythe.com/na/aboutus/annualreport.
About Forsythe
Founded in 1971, Forsythe is an information technology infrastructure integrator. Forsythe helps complex organizations across all industries, including Fortune 1000 companies, optimize cost and manage risk while improving performance. Forsythe provides independent technology and business consulting services, technology leasing services, and value-added reseller services for all the leading technology product manufacturers. Headquartered in Skokie, Illinois, Forsythe employs approximately 900 people in 50 offices throughout the United States and Canada. Forsythe is privately held and 100-percent employee-owned. In 2008, Forsythe achieved its 38th consecutive year of profitability with revenues of $700 million. Forsythe McArthur Associates Inc., Forsythe Solutions Group Inc., Forsythe Federal Solutions Corp., Forsythe Technology Canada Inc. and Forsythe International Inc. are wholly-owned subsidiaries of Forsythe Technology Inc. For more information, visit www.forsythe.com.
Contacts:
Allyson Marcus
KemperLesnik Communications
312.755.3592
allyson.marcus@kemplerlesnik.com
or
Kyra
Auslander
Forsythe Technology
847.213.7178
kauslander@forsythe.com