Earnings Roundup: iWeb, The Planet, Rackspace
February 25th, 2010 By: John Rath
Here’s a roundup of quarterly financial results announcements:
iWeb Group first quarter 2010. Canadian provider of Internet hosting services and IT infrastructure iWeb Group announced first quarter 2010 financial results Monday. Revenues increased to $7.2 million, an adjusted EBITDA of $2.1 million was recorded and net income increased to $180,000 compared to the $1,248,000 loss reported a year ago. iWeb announced their fourth data center last month and increased server capacity by 20,000. iWeb’s shares are listed on the TSX Venture Exchange (TSX-V: IWB).
The Planet reports fourth quarter results. Hosting provider The Planet discussed its results for the quarter ending December 31, 2009. “We ended the fourth quarter and the year with increased revenue and EBITDA beyond 30 percent, despite the tough economic conditions,” said Chairman and Chief Executive Officer Douglas Erwin. The Planet said deal sizes continue to increase, with the company’s complex infrastructure solutions experiencing year-over-year growth of better than 30 percent. Investment plans for 2010 include customer-facing systems, their network and the Virtual Dedicated Server offering as well as data center infrastructure.
Rackspace fourth quarter and year-end 2009 results. Rackspace (RAX) announced financial results for the quarter and year ending December 31, 2009. Highlights include net revenue of $169.5 million, adjusted EBITDA of $56 million and net income of $9 million. Managed hosting revenue for the quarter increased to $152.4 million and cloud revenue increased to $17.1 million. Total server count and customer count grew in the fourth quarter at 56,671 servers and 90,925 customers. “In 2010, we plan to boost enterprise sales, continue to gain traction in the cloud, improve our SMB offering and mine our installed base for growth opportunities,” said president and CEO Lanham Napier.
Global Crossing fourth quarter and 2009 results. Global Crossing (GLBC) announced unaudited fourth quarter and full-year 2009 results. Highlights include revenue of $2.54 billion and 2009 free cash flow increasing to $82 million, an improvement of $71 million year over year. Wholesale voice revenue declined 12%, or $50 million, year over year to $374 million. Fourth quarter revenues were $651 million, with $93 million generated from wholesale voice services. “We expect to grow again in 2010, fueled by investments in our products, network and sales force,” said Global Crossing CEO John Legere. “We will continue to make investments for growth, as we did in 2009, using internally-generated cash from operations while delivering another year of positive Free Cash Flow in 2010.”