Provo, Utah, Sept. 6, 2011 (GLOBE NEWSWIRE) -- Veracity Networks, a leading Utah telecommunications provider, announced today that it had been named No. 1945 by Inc. magazine on its fifth annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy--America’s independent entrepreneurs.
"Veracity Networks is honored to receive this national recognition for our corporate growth and local dedication to Utah’s residents and businesses," said Drew Peterson, CEO of Veracity Networks. "We work hard to not only understand our customers’ needs, but also to implement and innovate new ways to meet those expectations."
With 131 percent growth, Veracity was ranked No. 66 in the telecommunications industry. Veracity was also one of over 80 Utah companies to make the list. Other national prominent brands on the 2011 Inc. 5000 list include Spirit Airlines, television maker VIZIO, Honest Tea, Dunkin’ Donuts, and Metrokane, makers of the Rabbit corkscrew.
Veracity’s Inc. 5000 profile can be found at http://www.inc.com/inc5000/profile/veracity-networks. Complete results of all 5000 companies can be found at www.inc.com/5000">www.inc.com/5000.
For more information about Veracity Networks, visit its website at www.veracitynetworks.com, or call 801-379-3000 for personal assistance.
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Inc. 500|5000 Methodology
The 2011 Inc. 500|5000 is ranked according to percentage revenue growth from 2007 through 2010. To qualify, companies must have been founded and generating revenue by March 31, 2007. Additionally, they had to be U.S.-based, privately held, for profit, and independent--not subsidiaries or divisions of other companies--as of December 31, 2010. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2007 is $100,000; the minimum for 2010 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
About Veracity Networks
Veracity Networks is a locally owned, facilities-based telecommunications provider servicing commercial customers and residential customers on its next-generation FTTP network in Provo, Utah. Its extensive network throughout Utah offers unmatched Internet speed, high-definition video and feature-rich telephone services. Customers range from residential customers with a single phone line, to one of the state’s largest private employers. Veracity services are available to businesses and residents in American Fork, Provo, Orem, Traverse Mountain, Salt Lake City, Murray, Ogden, Kaysville, Bountiful, Midvale, St. George, and wherever Utopia services are available. Veracity Networks has been recognized as the best telecommunications provider in the state of Utah by Best of State. It is also dedicated in maintaining and improving its Tier-1 network infrastructures while setting industry standards in network stability and customer support. With combined leadership experience of more than 50 years, and the most advanced telecom platform in the industry, Veracity Networks delivers "World-Class Service with a Local Touch."