Terremark Q4 revenue, earnings up - Portland Business Journal:

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million from $56.8 million in the prior-year The Miami-based IT infrastructure servicesprovider TMRK) said net income for the quarter endefd March 31 was $3.5 million, or 6 cents a up from a loss of $2.6 or 5 cents a share, the year Though revenue fell short of the $74.2 millioj analysts expected, the company beat the consensue for net income; analysts were expectinv a penny a share. Revenue for the full year was $250.5 million, up from $187.4 million in the previousd year.
“As our company heads into fiscapl 2010, we believe our robust pipelin e and the consistently strong customer demand for our products and servicesx will continue to drivestrong results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookingsw during thefourth quarter, logging $31.8 millio of new annual contracr value. The company is in the blackm after years ofsteady Still, Terremark has managed to consistently grow revenud and has been aggressively pursuing federal government a strong suit for the With a growing facilityt in suburban Washington, D.C.
, that caterx to government business, the company expects to benefit from federak stimulus dollars. During the fourtuh quarter, the federal government accounted for 30 percentrof Terremark’s total revenue, Medina said during a conferenc call Tuesday evening. That’s a 76 percent year-over-yeaf increase in government revenue. “Iu have never been more optimistic about the visibility and size of ourgovernmenty pipeline,” Medina said. “Terremarko Worldwide is enjoying strong visibility into fiscaklyear 2010, coming into the year with the highest backlog in the company’s analysts wrote in a May 4 report.
“Ths ability to service new government contracts and partnerships with most of the largw federal contractors should also providre strategic alternatives for management as they look to continu e their capacitygrowth [at the suburban D.C., location].” Just priotr to its earnings announcement, Terremark said Palo Calif.-based would acquire aboutr 5 percent of its stock. Under the agreement, the virtualizatiob and cloud-computing specialist will purchase 4 million shares of newly issued Terremarik common stockat $5 a for a total investment of $20 million. For the firs t quarter of fiscalyear 2010, Terremarlk said it expects revenue from $63 milliom to $66 million.
For the full fisca l year, the company projectss revenuebetween $290 million and $300 million. Shares closed up 33 centsz to $4.80. The 52-week high was $7.67 on Sept. 8. The 52-weei low was $1.85 on March 9.