Twin Cities’ Video Guidance Reports 21% Growth in 2008

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Eden Prairie-based Video Guidance, the leading video, voice, streaming and web conferencing services providers in the Upper Midwest, reports strong revenues for 2008. Benefiting from a steadily growing industry and capitalizing on corporate cutbacks from a struggling economy, Video Guidance’s year-end results grew an impressive 21 percent over 2007.

“Companies are recognizing that one way to save sizable costs is through comprehensive video conferencing programs that serve as an essential alternative to flying and driving. The savings can be so significant that many of these organizations are seeing a return on their investments almost immediately.”

“During these difficult times, businesses are desperately reducing expenses,” said Michael Werch, president and CEO of Video Guidance. “Companies are recognizing that one way to save sizable costs is through comprehensive video conferencing programs that serve as an essential alternative to flying and driving. The savings can be so significant that many of these organizations are seeing a return on their investments almost immediately.”

In addition to strong revenues and bolstered by the company’s solid reputation, Video Guidance is experiencing its highest retention rate for service renewals, demonstrating to its customers the value of effective visual communications programs.

Companies throughout the country – and all over the world -- are being introduced to new HD technologies that allow them to save time and money without losing productivity or jeopardizing critical communications. High-definition video conferencing systems can connect multiple offices in a number of geographic locations, making video conferencing a critical tactic in a company’s overall business strategies.

Many businesses, which not only have many of their sales staff on the road, also use Video Guidance’s systems to conduct ongoing training. Visual communications programs enable companies to use distance learning as an important and viable way to perform real-time, interactive education. Ongoing training programs can connect employees from all over the world with universities and key instructors to provide the best in education, saving countless dollars.

Werch says there are countless new and exciting applications for video conferencing. In addition to sales, training and distance learning, organizations use video communications in telemedicine, telehealth and even telemusic. “Interactive systems can be used in some of the most creative ways, joining people or groups together when travel is both expensive and unpractical.”

Founded in 1999, privately held Video Guidance, Inc. (www.videoguidance.com) provides conferencing, telepresence and audio visual technologies and services that facilitate natural, visual communication. Strategic alliances include Conference Plus, Tandberg (OSLO: TAA.OL), Polycom (NASDAQ: PLCM), LifeSize, On Stream Media Corporation, Radvision (NASDAQ: RVSN), VBrick, and Accordent.

For the second year in a row, Video Guidance has been named to Inc’s. 5,000 list of the nation’s fastest growing private companies, up 29 firms from 2007. That year, the company was among the Top 100 of the fastest growing regional companies in Minnesota and Wisconsin. The company has also been recognized by The Business Journal as one of the “50 Fastest Growing Privately Held Companies” in the Twin Cities metro area. This month, Video Guidance received the “Grant Services Partner of the Year” honor from TANDBERG for helping organizations create teleconferencing solutions in telemedicine and distance learning in underserved rural areas.