Business
Hostopia Reports Fourth Quarter & Fiscal 2008 Results
Positive Revenue and Earnings Continue MISSISSAUGA, ON, and FT. LAUDERDALE, FL, May 13 /CNW/ - Ho...
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"\n\n\n\nPositive Revenue and Earnings Continue\n\n\nMISSISSAUGA, ON, and FT. LAUDERDALE, FL, May 13 /CNW/ - Hostopia.com Inc.\n(TSX: H), a leading provider of web services that enable small and\nmedium-sized businesses to establish and maintain an Internet presence, today\nreported preliminary unaudited financial results for the fourth quarter and\nfiscal year ended March 31, 2008. All figures are in U.S. dollars unless\notherwise stated.\n\n\nHighlights\n\n\n- Q4 revenue increased 26.6% year over year, 1.8% sequentially from Q3\n- 18th consecutive quarter of positive operating income\n- Annual revenue increased 23.6 % to $27.8 million\n- End-user count grew 18.8% year over year to approximately 309,000\n- 11,000 end-users added in Q4\n- Company announced launch of Fax-to-Email service\n- Subsequent to March 31, Hostopia signed two definitive agreements to\n purchase shared webhosting assets that will help drive future revenue\n growth.\n\n\n"We are pleased with our fourth quarter and full year results," said\nColin Campbell, Hostopia's CEO. "While sequential revenue growth slowed in the\nfourth quarter Hostopia grew revenue by 23.6% in fiscal 2008. Our fourth\nquarter operating income rose to $805,000, up 40% from Q4 last year primarily\nbecause of our revenue growth as well as the negotiation of on-going lower\nbandwidth costs and the favorable resolution of an uncertain bandwidth pricing\nissue."\n\n\nFinancial Results for the Fourth Quarter of 2008\n\n\nRevenues increased 26.6% to $7.4 million in the three months ended March\n31, 2008, compared to the same period last year making this our 32nd\nconsecutive quarter of higher revenues. Our revenues grew primarily because of\nthe 19% increase in our end-user base with some help from the stronger\nCanadian dollar. Sequential revenue growth of 1.8% in the fourth quarter was\nprimarily due to a 3.3% increase in end-users as one time licensing and\nprofessional services revenue declined by $10,000 from the third quarter.\n\n\nGross profit (income after deducting the cost of revenues) grew by\n$1.5 million compared to last year's fourth quarter primarily because of our\nincreased revenue. Our Q4 gross profit also benefited from a $112,000\nresolution of an uncertain bandwidth pricing issue as well as the negotiation\nof lower bandwidth charges.\n\n\nOur operating...