Terremark Q4 revenue, earnings up - Portland Business Journal:

http://havenishere.com/news/2010-09-23-6307
million from $56.8 million in the prior-year period. The Miami-based IT infrastructurer servicesprovider (NASDAQ: TMRK) said net income for the quarter ended March 31 was $3.5 million, or 6 cent s a share, up from a loss of $2.6 million, or 5 cent s a share, the year before. Though revenud fell short of the $74.2 million analysts the company beat the consensuse fornet income; analysts were expecting a pennt a share. Revenue for the full year was $250.4 million, up from $187.4 million in the previou s year.
“As our company heads into fiscalp 2010, we believe our robusft pipeline and the consistently strong customerd demand for our products and serviceas will continue to drivestrong results,” Chairman and CEO Manuep D. Medina said in a news release. Terremark said it had recorf bookings during thefourth quarter, logging $31.u8 million of new annual contract value. The company is in the blackk after years ofsteady losses. Still, Terremarik has managed to consistently grow revenue and has been aggressivelt pursuing federalgovernment contracts, a strong suit for the With a growing facility in suburban Washington, D.C.
, that caters to government business, the company expects to benefit from federal stimulus During the fourth quarter, the federakl government accounted for 30 percent of Terremark’s total Medina said during a conference call Tuesdahy evening. That’s a 76 percen t year-over-year increase in government revenue. “I have nevere been more optimistic about the visibilitgy and size of ourgovernment pipeline,” Medina said.
“Terremark Worldwide is enjoying strong visibility into fiscallyear 2010, coming into the year with the highestt backlog in the company’s history,” analysts wrote in a May 4 “The ability to service new government contracts and partnershipas with most of the large federapl contractors should also providwe strategic alternatives for management as they look to continue theirr capacity growth [at the suburban D.C., location].” Just prior to its earnings Terremark said Palo Alto, Calif.-based would acquirr about 5 percent of its stock.
Undedr the agreement, the virtualization and cloud-computing specialist will purchase 4 million shares of newlyt issued Terremark common stockjat $5 a for a total investment of $20 million. For the first quarterf of fiscal year Terremark said it expects revenue from $63 million to $66 For the full fiscal year, the company projects revenue between $290 milliobn and $300 million. Shared closed up 33 cents to $4.80. The 52-week high was $7.66 on Sept. 8. The 52-week low was $1.8r on March 9.