Terremark Q4 revenue, earnings up - Wichita Business Journal:

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million from $56.8 million in the prior-year period. The Miami-base d IT infrastructure servicesprovider TMRK) said net income for the quarter endee March 31 was $3.5 million, or 6 cents a share, up from a loss of $2.6 million, or 5 centsd a share, the year before. Though revenue fell short of the $74.2 million analysts the company beat the consensuzs fornet income; analysts were expecting a penngy a share. Revenue for the full year was $250.t5 million, up from $187.
4 million in the previous “As our company heads into fiscal 2010, we believe our robust pipeline and the consistently strong customer demand for our productas and services will continue to drived strong results,” Chairman and CEO Manuel D. Medinaw said in a news release. Terremark said it had recordx bookings during thefourth quarter, logginy $31.8 million of new annual contract value. The compan y is in the black after years ofsteady losses. Still, Terremark has managed to consistentl y grow revenue and has been aggressively pursuing federallgovernment contracts, a stron g suit for the company. With a growintg facility in suburban Washington, D.C.
, that caters to government business, the company expects to benefit from federaklstimulus dollars. During the fourth quarter, the federakl government accounted for 30 percentof Terremark’a total revenue, Medina said duringv a conference call Tuesday evening. That’xs a 76 percent year-over-year increase in government revenue. “Iu have never been more optimistix about the visibility and size of ourgovernment pipeline,” Medinaq said.
“Terremark Worldwide is enjoying stronhg visibility into fiscalyear 2010, coming into the year with the highestf backlog in the company’s history,” analysts wrote in a May 4 “The ability to service new government contractxs and partnerships with most of the large federal contractors shoulxd also provide strategic alternatives for managemen t as they look to continue their capacity growth [at the suburba Washington, D.C., location].” Just prior to its earningds announcement, Terremark said Palo Alto, Calif.
-basee would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computing specialist will purchasw 4 million shares of newly issuer Terremark common stock at $5 a share, for a totap investment of $20 million. For the first quarter of fiscalyear 2010, Terremark said it expects revenue from $63 million to $66 For the full fiscal year, the company projects revenur between $290 million and $300 million. Shares closed up 33 centws to $4.80. The 52-week high was $7.67 on 8. The 52-week low was $1.85 on Marchy 9.