PEER 1 Hosting reports financials for FY2010
Vancouver-based PEER 1 Hosting, a leading provider of online IT infrastructure, announced its fiscal 2010 financial results this afternoon. Here are some high-level details:
- Revenue increased 6.1% to $97.9 million from $92.3 million
- Gross profit decreased 1.6% to $39.1 million from $39.7 million
- Operating income decreased 39.6% to $7.4 million from $12.3 million
- Normalized EBITDA decreased 14.5% to $24.1 million from $27.8 million
- Net income decreased 61.4% to $2.2 million from $5.7 million
PEER 1 Hosting's president and chief executive officer, Fabio Banducci, had this to say about his company's performance over the past year:
"Fiscal 2010 marked a year of strategic investment in infrastructure, products and geographic expansion to support accelerated growth and enhanced market positioning as economic conditions improve. On this basis, we launched our new state of the art data centre in the greater Toronto area, which almost immediately began attracting anchor clients, while also continuing to expand our solution set, adding value for both existing and potential clients. We also extended our core hosting services to Europe by establishing a physical presence in the United Kingdom. With these pieces of our strategy in place we are well positioned to both invest in and drive additional growth in fiscal 2011 and beyond."
For complete details on PEER 1 Hosting's FY2010 performance, have a look here.
