PEER 1 Network Enterprises, Inc. (TSX-V:PIX), a leading provider of high-performance Internet infrastructure, released the financial report for the companys second quarter of fiscal year 2006 today, for the three months ended December 31, 2005. The results reflect the first full quarter of the companys consolidated operations with the dedicated hosting assets acquired from Interland on September 2, 2005.
For the three months ended December 31, 2005, the company notes the following highlights:
- Effective October 1, 2005, the company changed its reporting currency to the US dollar from the Canadian dollar to better align its reporting currency with the currency of the majority of its revenue and expenses. After giving effect to the Interland acquisition, approximately 73% of the Companys revenue and 68% of its expenses derive from the United States. All figures presented prior to October 1, 2005 for comparative purposes are also reported in US dollars.
-
Revenue of PEER 1 for the three months ended December 31, 2005 was $16.29 million, compared to $4.66 million for the three month period ended December 31, 2004, representing a 249% increase.
-
Operating profit was $1.31 million for the three months ended December 31, 2005, and increase of $1.42 million from the operating loss of $0.11 million for the three months ended December 31, 2004.
-
Cash flow from operations for the three months ended December 31, 2005 was $4.7 million, compared to $1.9 million for the three month period ended December 31, 2004.
-
Lance Tracey replaced Geoff Hampson as the companys Chief Executive Officer and President during the period, and a newly created position of Executive Vice President was added to help manage the significantly larger business the company now operates.
-
EBITDA was $3.2 million for the three months ended December 31, 2005 compared to $0.2 million for the same period last year.
"These results are what we have been working hard to achieve over the past few months," said Fabio M. Banducci, PEER 1s Executive Vice President. "Building a solid financial foundation to this business means that PEER 1 can grow confidently going forward."
About PEER 1
PEER 1, the leading Internet infrastructure solutions company provides full services to handle the needs of customers requiring 100% uptime for their online presence including network, co-location, and dedicated hosting services. Since its inception in 1999, the company has grown to include data centers and network points of presence in 16 major cities across North America and Europe, all connected by PEER 1s world class IP (Internet Protocol) network. PEER 1 serves a variety of customers including hosting providers, online gaming companies, Internet phone (VoIP) companies and many small and medium-sized businesses. The companys headquarters are in Vancouver, Canada and the stock is traded on the TSX Venture exchange under the symbol PIX. For more information visit http://www.peer1.com.
Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Peer 1s public filings with securities regulatory authorities.
|
![[Valid RSS]](/images/rss_valid_two.gif "Validate my RSS feed"){kind=small}
