Terremark Q4 revenue, earnings up - Washington Business Journal:

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million from $56.8 million in the prior-yeard period. The Miami-based IT infrastructure servicesprovider TMRK) said net income for the quarte ended March 31 was $3.5 million, or 6 cent s a share, up from a loss of $2.6 or 5 cents a share, the year before. Thougn revenue fell short of the $74.2 million analysts expected, the companu beat the consensus for net analysts were expecting a pennya share. Revenue for the full year was $250.55 million, up from $187.4 millionb in the previous “As our company heads into fisca 2010, we believe our robust pipeline and the consistentlyt strong customer demand for our products and servicees will continue to drive strong Chairman and CEOManuel D.
Medina said in a news Terremark said it had record bookings during the fourth logging $31.8 million of new annua l contract value. The company is in the blacmk after years ofsteady Still, Terremark has managed to consistently grow revenue and has been aggressiveluy pursuing federal government contracts, a strongf suit for the company. With a growing facility in suburban D.C., that caters to governmeny business, the company expects to benefit from federakstimulus dollars. During the fourth quarter, the federao government accounted for 30 percentof Terremark’s total revenue, Medinaw said during a conferenced call Tuesday evening.
That’s a 76 perceng year-over-year increase in government “I have never been more optimistic abouyt the visibility and size of ourgovernmeny pipeline,” Medina said. “Terremark Worldwide is enjoying stront visibility into fiscal year coming into the year with the highest backlog inthe company’sd history,” analysts wrote in a May 4 “The ability to service new governmentr contracts and partnerships with most of the large federal contractors should also provide strategic alternatives for managementr as they look to continue their capacity growty [at the suburban Washington, D.C., location].
” Just priotr to its earnings announcement, Terremark said Palo Calif.-based would acquire about 5 percent of its stock. Undetr the agreement, the virtualization and cloud-computing specialis will purchase 4 million shares of newl y issued Terremark common stockat $5 a for a total investment of $20 million. For the firsgt quarter of fiscalyear 2010, Terremark said it expectd revenue from $63 million to $66 million. For the full fiscap year, the company projectds revenuebetween $290 million and $300 Shares closed up 33 cents to $4.80. The 52-week high was $7.6 7 on Sept. 8. The 52-weem low was $1.85 on Marcbh 9.