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April 4, 1997updated 05 Sep 2016 12:13pm


By CBR Staff Writer

Denver-based Rocky Mountain Internet Inc, a provider of internet services, website production and network consulting for businesses in the Rocky Mountain region, reported a 178% increase in revenue – to approximately $3.3m – for the year ended December 31, 1996. Fourth-quarter revenue was $1.6m, up from $384,000 a year earlier. The company posted a net loss for the year of $2.3m, however, due to aggressive investment in growth opportunities that it hopes will lead to long-term profitability. Some people think RMI is on the right track. An analyst with Chatfield Dean & Co in Denver likes RMI’s prospects so much that he has calculated a two-year price target of $10 per share. RMI is currently trading at just under $2.

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