"Continued Growth Spells More Success for LTI"
WILTON, CT - May 9, 2000 - Leasing Technologies International, Inc. ("LTI") today announced record revenues and net income for the first half of fiscal year 2000. For the six month period ending 3/31/00, revenues and net income increased by 73% and 107% respectively compared to the prior year's first half, attesting to the company's continued success in the venture leasing arena. LTI targets emerging growth and venture capital-backed start-up companies throughout the USA for financing of high technology equipment. This rapidly growing segment has been LTI's focus since the early 1990's.
"LTI has experienced record growth in the last eighteen months with volume increasing 136% in FY 1999 and continuing to grow this year. Our experienced team of dedicated lease professionals provides a superior level of service to our customers, making us the industry's premier venture leasing company. We have continued to expand our sales and marketing efforts by establishing new offices in San Francisco, Atlanta and Philadelphia in the past six months. We are more than pleased with the company's results, particularly in this challenging marketplace, " said F. Jared Sprole, co-founder, president and CEO.
Founded in 1983, Leasing Technologies International, Inc. has served over 500 emerging growth and early stage growth companies since inception. Many of LTI's customers are high technology and information services companies specializing in telecommunication, biotechnology, healthcare, software, Internet services and other technology markets. In addition to venture leasing and vendor leasing programs, LTI has a specialty finance division arranging mezzanine and secondary equity financings, credit lines and strategic partnerships . The Specialty Finance Group was formerly managed by Steve Chaleff and Fred Wiener, who have recently left LTI to pursue other interests. With offices in Wilton, CT, Boston, MA, San Francisco & Los Angeles, CA, Philadelphia, PA and Atlanta, GA, LTI has served over 250 emerging growth and early stage, venture capital-backed customers throughout the country. A leader in its industry, LTI has pioneered several innovative lease structures and has helped set the pace for superior customer service within its industry segment.
LTI is headquartered in Wilton, CT. The company has over 40 employees
and occupies an 11,000 square foot facility. Leasing Technologies International,
Inc. is a member of the Equipment Leasing Association, United Association
of Equipment Leasing, the Eastern Association of Equipment Lessors and
the National Association of Equipment Lease Brokers.