PEER 1 Hosting reports financials for FY2010

Posted by Darren Anderson

PEER 1 HostingVancouver-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

Company:
PEER 1 Hosting
Website:
http://www.peer1.com
Location:
Vancouver, British Columbia, Canada

PEER 1 Hosting, a wholly-owned subsidiary of Cogeco Cable Inc. (TSX: CCA), is one of the world's leading web hosting providers, specialising in Managed Hosting, Dedicated Servers, Colocation and Cloud Services. Based in Vancouver, Canada, with European operations headquartered in Southampton, UK, the company has been serving commercial customer needs since 1999. PEER 1 Hosting is built on two obsessions: Ping &... more


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Darren Anderson

Darren Anderson

Darren Anderson is an analyst at Branham Group Inc., a leading industry analyst and strategic consulting firm servicing the global information technology marketplace. Each year he coordinates the Branham300, an annual ranking of the top 300 Canadian technology companies, allowing him to keep tabs on the happenings within Canada’s Information and Communication Technology industry. Beyond his... more




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