iWeb announced its financial results for the first quarter ended December 31, 2009.
First Quarter Financial Highlights:
- Revenues increased to $7.2 million from $6.1 million, up 19% compared to the same quarter of the previous fiscal year
- Adjusted EBITDA of $2.1 million during the first quarter; 28.4% of revenue
- Net income increased to $180,000 compared to the $1,248,000 loss reported a year ago
- Fourth data center confirmed with a total capacity of 20,000 servers
“Revenue growth for this quarter, nearly 20%, reflects our strong position in the IT infrastructure market,” said Eric Chouinard, President and CEO, adding that “the Company’s focus is on the consolidation of its substantial growth over the past 5 years. The fourth data center, announced in January 2010, along with its additional capacity of 20,000 servers, will give us tools to continue our growth.
For more informations, read the integral version of this quarterly results