Business
Hostopia reports second quarter financial results
Hostopia reports second quarter financial results.
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nContinued revenue growth from existing and new customers\n\nMISSISSAUGA, ON, Nov. 15 /CNW/ - Hostopia.com Inc. (TSX: H), a leading\nprovider of web services that enable small and medium-sized businesses to\nestablish and maintain an internet presence, today reported its financial\nresults for its second quarter ended September 30, 2006. All figures are in\nU.S. dollars unless otherwise stated.\n\"We had a very successful second quarter and are very excited about our\ncontinued progress on a number of fronts,\" said Colin Campbell, Chief\nExecutive Officer. \"During the quarter we entered into agreements with a\nnumber of new customers. We also made great progress developing search engine\noptimization, enhanced site creation software, and collaborative e-mail\nservices. In addition, we recently launched Website Experts our website design\nservice,\" Mr. Campbell added.\n\"We are also thrilled that on November 10, subsequent to the end of the\nquarter, Hostopia became a public company. The net proceeds from our IPO will\nallow us to invest in technology and geographic expansion to further\naccelerate the growth of our web hosting and application services.\"\n\n>\n\n\"Business is showing significant momentum and we are excited by our\nrecent customer wins. In particular, our recent win with BT represents a\nsignificant opportunity to establish ourselves in the U.K. market,\" said Mr.\nCampbell. \"During the second quarter we began investing in our technology\ninfrastructure and services in order to be in a position to rapidly deploy our\nservices to these new customers.\"\n\nFinancial Results\n\nRevenues increased 29% or $1.3 million to $5.6 million in the three\nmonths ended September 30, 2006 compared to the same period last year. This\ngrowth in revenues was due to a 32% or 57,900 increase in the number of\nend-users hosted and serviced since September 30, 2005. At September 30, 2006,\nthe company had approximately 237,000 end-users utilizing its services. Growth\nin end-users has come from both existing customers that added new end-users,\nas well as the acquisition of new customers and their end-users.\nBasic and diluted net income per common share for the second quarter was\n$0.10 and $0.07 respectively, compared to $0.13 and $0.08 for the same period\nlast year. For the six months ended September 30, 2006, basic a...