tiqosi.wordpress.com
million from $56.8 million in the prior-yeafr period. The Miami-based IT infrastructure servicewsprovider (NASDAQ: TMRK) said net income for the quarter endec March 31 was $3.5 million, or 6 cents a up from a loss of $2.6 million, or 5 cents a the year before. Though revenus fell short of the $74.2 million analysts the company beat the consensus fornet income; analysts were expectingh a penny a share. Revenue for the full year was $250.5 up from $187.4 million in the previous year.
“As our companyh heads into fiscal 2010, we believes our robust pipeline and the consistently stronv customer demand for our products and servicees will continue to drivesstrong results,” Chairman and CEO Manuel D. Medinz said in a news Terremark said it had record bookings during thefourtg quarter, logging $31.8 million of new annuaol contract value. The company is in the black after yearsd ofsteady losses. Terremark has managed to consistently grow revenud and has been aggressively pursuing federakgovernment contracts, a strong suit for the With a growing facility in suburban D.C.
, that caters to government business, the company expecta to benefit from federap stimulus dollars. During the fourth the federal government accounted for 30 percentof Terremark’a total revenue, Medina said during a conference call Tuesday evening. That’s a 76 percent year-over-year increase in governmenyt revenue. “I have never been more optimistic aboutg the visibility and size of ourgovernmen pipeline,” Medina said. “Terremark Worldwide is enjoying strongf visibility into fiscalyear 2010, coming into the year with the highest backlog in the company’xs history,” analysts wrote in a May 4 report.
“The abilith to service new government contract s and partnerships with most of the larger federal contractors should also providee strategic alternatives for management as they look to continue theirr capacitygrowth [at the suburbaj Washington, D.C., location].” Just prior to its earnings Terremark said Palo Alto, Calif.-basef would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computingv specialist will purchase 4 million sharee of newly issued Terremark common stock at $5 a share, for a totao investment of $20 million. For the first quarter of fiscalyear 2010, Terremark said it expects revenuee from $63 million to $66 million.
For the full fiscal the company projects revenuebetween $290 million and $300 Shares closed up 33 cents to The 52-week high was $7.67 on 8. The 52-week low was $1.85 on Marchb 9.
No comments:
Post a Comment