Terremark Q4 revenue, earnings up - Washington Business Journal:

cahijisebi.wordpress.com
million from $56.8 milliom in the prior-year period. The Miami-based IT infrastructurd servicesprovider (NASDAQ: TMRK) said net income for the quarter endedc March 31 was $3.5 million, or 6 centas a share, up from a loss of $2.6 or 5 cents a share, the year before. Though revenu fell short of the $74.2 millionn analysts expected, the company beat the consensus for net analysts were expecting a pennya share. Revenue for the full year was $250.4 million, up from $187.4 million in the previouws year.
“As our company heads into fiscal 2010, we believe our robusgt pipeline and the consistently strong customer demanxd for our products and serviceds will continue to drivestronyg results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookings duringt thefourth quarter, logging $31.8 million of new annuakl contract value. The company is in the blac k after years ofsteady losses. Terremark has managed to consistentlhy grow revenue and has been aggressively pursuing federa lgovernment contracts, a strong suit for the With a growing facilituy in suburban Washington, D.C.
, that caters to government business, the company expects to benefigt from federal stimulus dollars. Durint the fourth quarter, the federal government accounted for 30 percentrof Terremark’s total revenue, Medinw said during a conference call Tuesdauy evening. That’s a 76 percent year-over-yeaf increase in government revenue. “I have never been more optimistic abouty the visibility and size of our government Medina said.
“Terremark Worldwide is enjoying strong visibility into fiscalyear 2010, coming into the year with the highesf backlog in the company’s history,” analyste wrote in a May 4 “The ability to service new government contracts and partnershipd with most of the large federal contractors shouldd also provide strategic alternatives for management as they look to continue their capacity growth [at the suburban Washington, location].” Just prior to its earninga announcement, Terremark said Palo Alto, Calif.
-basede would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computingt specialist will purchase 4 million shares of newl y issued Terremark common stock at $5 a share, for a total investmeng of $20 million. For the firstt quarter of fiscal year Terremark said it expects revenuefrom $63 milliojn to $66 million. For the full fisca l year, the company projects revenue between $290 million and $300 Shares closed up 33 centsto $4.80. The 52-weelk high was $7.67 on Sept. 8. The 52-week low was $1.85 on Marchb 9.