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Internap Restates Revenue, Adds PoPs

Internap (INAP) has restated its 2007 revenue at $234.09 million, trimming $1.8 million from its initial report.

Internap Network Services (INAP) has restated its 2007 revenue at $234.09 million, trimming $1.8 million from its initial report of $235.9 million to reflect customer credits that came to light last month, after its annual report had been filed. The company's net loss swelled from $4.5 million to $5.55 million. The revision was made in an amended 10K filing with the SEC, and was in line with the company's prediction that it would need to refund customers between $1 million to $2 million.

Internap also announced that it has brought 12 new points of presence (PoPs) online in its content delivery network (CDN) expanding coverage in North America, Singapore and Australia. The company also upgraded its existing nine PoPs in North America, Hong Kong, Japan, London and Amsterdam to provide for more efficient transfer of content and automated updating of content based on business rules.

Since acquiring VitalStream and its CDN platform in February 2007, Internap has added 16 CDN PoPs to the original four US and one European location. In 2007, the company added London, Hong Kong, Tokyo and other sites in the US and Canada to expand the global reach of the platform.

"A key element of Internap's strategy is to enable business and government organizations to deploy rich-media content and applications worldwide without needing a massive infrastructure build-out," said James P. DeBlasio, president and chief executive officer at Internap. "We are executing on that strategy through the implementation of 12 new CDN PoPs, all of which are fully integrated with our global IP network and data centers."