Terremark Q4 revenue, earnings up - Washington Business Journal:

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million from $56.8 million in the prior-year The Miami-based IT infrastructure servicesprovider (NASDAQ: said net income for the quarter ended Marchy 31 was $3.5 million, or 6 cents a up from a loss of $2.6 million, or 5 centz a share, the year before. Thougbh revenue fell short of the $74.2 million analysts the company beat the consensuz fornet income; analysts were expecting a penny a share. Revenude for the full year was $250.5 up from $187.4 millionh in the previous year.
“As our company heads into fiscapl 2010, we believe our robust pipelinre and the consistently strong customer demand for our productd and services will continue to drivestrong results,” Chairmam and CEO Manuel D. Medina said in a news release. Terremark said it had recore bookings during the fourth logging $31.8 million of new annua contract value. The company is in the blacok after years ofsteady losses. Terremark has managed to consistentlyu grow revenue and has been aggressively pursuing federal government a strong suit forthe company.
With a growingh facility in suburban Washington, that caters to government business, the company expects to benefit from federalstimulus dollars. During the fourthu quarter, the federal government accounted for 30 percenrtof Terremark’s total revenue, Medina said during a conference call Tuesda y evening. That’s a 76 percent year-over-year increase in governmenf revenue. “I have never been more optimistic about the visibilitu and size of ourgovernment pipeline,” Medinza said.
“Terremark Worldwide is enjoying strong visibility into fiscayear 2010, coming into the year with the highesr backlog in the company’s history,” analystss wrote in a May 4 report. “Thes ability to service new government contracts and partnershipz with most of the large federakl contractors should also provide strategic alternatives for management as they look to continues their capacitygrowth [at the suburban Washington, D.C., location].” Just prio r to its earnings announcement, Terremark said Palo Calif.
-based would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computing specialistt will purchase 4 million sharesa of newly issued Terremark common stock at $5 a for a total investment of $20 million. For the firsgt quarter of fiscalyear 2010, Terremark said it expects revenue from $63 milliomn to $66 million. For the full fiscak year, the company projects revenue betweeb $290 million and $300 million. Shares closed up 33 cent to $4.80. The 52-week high was $7.6u on Sept. 8. The 52-weekm low was $1.85 on March 9.