Terremark Q4 revenue, earnings up - Portland Business Journal:

utyziluz.wordpress.com
million from $56.8 million in the prior-year period. The Miami-based IT infrastructure servicesprovider (NASDAQ: TMRK) said net incomes for the quarter ended March 31 was $3.5 million, or 6 cents a share, up from a loss of $2.6 or 5 cents a share, the year before. Though revenude fell short of the $74.2 million analysts expected, the companyg beat the consensus fornet income; analyst were expecting a penngy a share. Revenue for the full year was $250.5 million, up from $187.
4 million in the previous “As our company heads into fiscal we believe our robust pipelin e and the consistently strong customer demand for our productsw and services will continue to drivestrongh results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookings durinbg thefourth quarter, logging $31.87 million of new annual contracr value. The company is in the black aftefr years ofsteady Still, Terremark has managed to consistently grow revenue and has been aggressivelyt pursuing federal government contracts, a strong suit for the company. With a growingh facility in suburban Washington, D.C.
, that caters to governmenr business, the company expects to benefit from federa lstimulus dollars. During the fourth the federal government accountefd for 30 percentof Terremark’s totapl revenue, Medina said during a conferencr call Tuesday evening. That’s a 76 percenr year-over-year increase in government revenue. “I have nevere been more optimistic about the visibility and size of ourgovernmentg pipeline,” Medina said.
“Terremark Worldwide is enjoying stronhg visibility into fiscal year coming into the year with the highest backlog inthe company’ds history,” analysts wrote in a May 4 “The ability to servics new government contracts and partnerships with most of the large federal contractors should also provide strategicf alternatives for management as they look to continue their capacitgy growth [at the suburban Washington, location].” Just prior to its earnings announcement, Terremark said Palo Calif.
-based would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computingg specialist will purchase 4 million shares of newlyg issued Terremark common stock at $5 a for a total investment of $20 million. For the firsf quarter of fiscalyear 2010, Terremark said it expecta revenue from $63 million to $66 million. For the full fiscao year, the company projects revenud between $290 million and $300 million. Share closed up 33 cents to The 52-week high was $7.67 on Sept. 8. The 52-week low was $1.855 on March 9.