Terremark Q4 revenue, earnings up - Washington Business Journal:

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million from $56.8 million in the prior-yea r period. The Miami-based IT infrastructure servicesprovider (NASDAQ: said net income for the quarter ended March 31 was $3.5 or 6 cents a share, up from a loss of $2.6 or 5 cents a share, the year Though revenue fell shortt of the $74.2 million analysta expected, the company beat the consensus for net analysts were expecting a penny a Revenue for the full year was $250.t million, up from $187.4 million in the previou s year.
“As our company heads into fiscal 2010, we believe our robus t pipeline and the consistently strong customer demanrd for our products and services will continue to drivestront results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookinge during thefourth quarter, logging $31.8 millioh of new annual contractt value. The company is in the black aftedr years ofsteady losses.
Still, Terremarjk has managed to consistently grow revenue and has been aggressivelu pursuing federalgovernment contracts, a strong suit for the With a growing facility in suburban Washington, that caters to government business, the company expects to benefit from federal stimulus During the fourth quarter, the federal governmen accounted for 30 percent of Terremark’es total revenue, Medina said during a conferencw call Tuesday evening. That’s a 76 percent year-over-year increase in government revenue. “I have never been more optimistivc about the visibility and size of ourgovernmeny pipeline,” Medina said.
“Terremarko Worldwide is enjoying strong visibility into fiscaplyear 2010, coming into the year with the highes backlog in the company’s history,” analysts wrotr in a May 4 report. “Ths ability to service new government contracts and partnerships with most of the largee federal contractors should also provide strategic alternatives for management as they look to continuee their capacitygrowth [at the suburbanm Washington, D.C., location].” Just prior to its earnings Terremark said Palo Alto, Calif.
-based woulc acquire about 5 percent of its Under the agreement, the virtualizatiobn and cloud-computing specialist will purchase 4 million shares of newlyg issued Terremark common stock at $5 a for a total investment of $20 For the first quarter of fiscal year Terremark said it expectse revenue from $63 million to $66 million. For the full fiscalp year, the company projects revenue betweej $290 million and $300 million. Sharesz closed up 33 centa to $4.80. The 52-week high was $7.67 on 8. The 52-week low was $1.85 on Marchy 9.