iWeb Communities: Blog

We released today the financial results of our first quarter 2006/2007 ended December 31, 2006. Results for the first three months of fiscal year 2007 once again establish new records.
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MONTRÉAL, Februrary 28th 2007 ? IWEB GROUP INC. (?iWeb8.com?) (TSX-V: IWB) announced the financial results of its first quarter 2006/2007 ended December 31, 2006. Results for the first three months of fiscal year 2007 once again establish new records.

In this first quarter, iWeb Group recorded consolidated revenues to 1 956 177 $ an increase of 814 068 $, or 71 % more than the same period last year when revenues were 1 142 109 $.

« We are proud that our team succeeded in maintaining this strong growth while standing by our quality service reputation. » said Martin Leclair, Cofounder and Chief Operating Officer.

« This first quarter is in line with our objectives and we are satisfied with the results It’s a good start for 2007, now we need to concentrate on keepingn the rythm for the rest of the year. » adds Eric Chouinard, Cofounder and CEO of iWeb.

Gross profit increased by $ 449 553 or 75%, from $ 599 452 in 2005/2006 to $ 1 049 005 in 2006/2007. Net earnings were of 92 995 $ compared to 71 482 $ for the same period last year.

EBITDA went from $ 242 859 to $ 459 709, an increase of 89%.

About iWeb Group Inc.
Founded in 1996, iWeb offers a full line of advanced web hosting services either through shared hosting, dedicated servers or colocation in its own data centers featuring 25,000 square foot of floor space and the latest technological equipments. iWeb provides services in English, French and Spanish to clients in more than 140 countries.

iWeb Group Inc. is listed on the TSX Venture Exchange under the IWB stock symbol. For more information, visit the Company?s website at iweb8.com/investors.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this press release.

For more information relating to this press release, please communicate with our Chief Financial Officer, Marc Guindon, at 514-286-4242 or visit our website at iweb8.com/investors.

IWEB GROUP Inc. and the Business Development Bank of Canada (BDC) have agreed that iWeb will be awarded a new $4.5 million loan in addition to a debt consolidation with easier terms.

This additional funding will be used to acquire new equipments and complete the second development phase of iWeb’s second data center located in St-Léonard. This new development, ?Phase 2?, of the iWEB-CL datacenter is the most extensive and is set to be completed in April 2007. This phase includes extending the building, significantly upgrading electrical power supply and investing in equipment that will allow the company to raise to 4000 the number of dedicated servers it can host in the St-Leonard facility. The facility will also shelter iWeb’s new network operation center.

Completing this second phase of the iWEB-CL infrastructures is essential if we want to maintain our growth. It will provide us with a stable and expandable infrastructure that can be upgraded gradually to accommodate up to 12,000 dedicated servers. Less important upgrades will be planned for the next two years in order to upgrade the capacity according to our needs.

As well as making this significant new funding available to us, the Business Development Bank of Canada is enabling us to benefit from more favourable terms on our existing fundings. We greatly appreciate this mark of confidence.

The supplementary debt will be made up of a subordinated loan in the amount of $2.5 million, bearing interest of 11%, payable monthly, a supplementary interest of 2% and a bonus equivalent to a percentage of its five-year earnings before tax, interest and amortization, varying from 3% to 6%. The capital, supplementary interest and bonus are payable in five years.

The second $2-million component of the supplementary debt will be combined with a consolidation of some of the existing debts into two loans. The first will be in the amount of $2,442,000, bearing interest at the BDC prime rate, plus 0.75% (8.75%), with repayment over 15 years. The second loan will be in the amount of $2,252,000 and will bear interest at prime, plus 1.5% ($9.5%), with repayment over seven years.

Read the complete press release here.

Montreal, February 27, 2007 ? IWEB GROUP Inc. (TSX-V: IWB) and the Business Development Bank of Canada (BDC) have agreed that iWeb will be awarded a new $4.5 million loan in addition to a debt consolidation with easier terms.

This additional funding will be used to acquire new equipments and complete the second development phase of iWeb’s second data center located in St-Léonard. This new development, ?Phase 2?, of the iWEB-CL datacenter is the most extensive and is set to be completed in April 2007. This phase includes extending the building, significantly upgrading electrical power supply and investing in equipment that will allow the company to raise to 4000 the number of dedicated servers it can host in the St-Leonard facility. The facility will also shelter iWeb’s new network operation center.

“Completing this second phase of the iWEB-CL infrastructures is essential if we want to maintain our growth. It will provide us with a stable and expandable infrastructure that can be upgraded gradually to accommodate up to 12,000 dedicated servers. Less important upgrades will be planned for the next two years in order to upgrade the capacity according to our needs.“, says Martin Leclair, Chief Operating Officer of iWeb.

“As well as making this significant new funding available to us, the Business Development Bank of Canada is enabling us to benefit from more favourable terms on our existing fundings. We greatly appreciate this mark of confidence.“, adds Eric Chouinard, President and CEO of iWeb.

The supplementary debt will be made up of a subordinated loan in the amount of $2.5 million, bearing interest of 11%, payable monthly, a supplementary interest of 2% and a bonus equivalent to a percentage of its five-year earnings before tax, interest and amortization, varying from 3% to 6%. The capital, supplementary interest and bonus are payable in five years.

The second $2-million component of the supplementary debt will be combined with a consolidation of some of the existing debts into two loans. The first will be in the amount of $2,442,000, bearing interest at the BDC prime rate, plus 0.75% (8.75%), with repayment over 15 years. The second loan will be in the amount of $2,252,000 and will bear interest at prime, plus 1.5% ($9.5%), with repayment over seven years.

About iWeb Group Inc.
Founded in 1996, iWeb offers a full line of advanced web hosting services either through shared hosting, dedicated servers or colocation in its own data centers featuring 25,000 square foot of floor space and the latest technological equipments. iWeb provides services in English, French and Spanish to clients in more than 140 countries.

iWeb Group Inc. is listed on the TSX Venture Exchange under the IWB stock symbol. For more information, visit the Company?s website at iweb8.com/investors.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this press release.

For more information relating to this press release, please communicate with our Chief Financial Officer, Marc Guindon, at 514-286-4242 or visit our website at iweb8.com/investors.

We are currently experiencing technical problems with our phone system. The technicians from the company who manages this system are on their way and will fix the problem by replacing a master piece of the system onsite so things can get back to normal.

However, the phone service is maintained, our team is only taking messages and forwarding them to the concerned department or to the person whom you try to join. You will be contacted as fast as possible.

We are sorry for the inconvenience this may cause and we are working on getting the situation restored as soon as possible.

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10h34am

The technicians are currently onsite to fix the problem. Estimate time; 30 minutes.

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11h00am

Problems resolved. If you still notice problems on our phone system, let us know. Thank you for your patience.

HostReview’s editorial staff has chosen iWeb has one of the Top 10 Fastest Growing Web Hosting Company for January 2007. HostReview’s Fastest Growing awards are intended to showcase fast-moving companies that are growing in size and prestige. HostReview’s staff closely monitors a variety of factors to select the Web Hosting companies that will be recommended to their readers.
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