Web Host Peer 1 Reports Revenue Growth

• By theWHIR.com , December 01, 2005

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December 1, 2005 -- (WEB HOST INDUSTRY REVIEW) -- Web hosting and colocation provider Peer 1 Network (peer1.net) said on Tuesday that it had tripled revenues for the quarter ending September 30, 2005. The company recorded total revenues of $11.6 million for the quarter, compared to $3.8 million for the same period last year.

The company says the improved results reflected the first month of operation with the newly acquired Interland dedicated hosting assets. Peer 1 also added the ServerBeach dedicated hosting operation about a year ago.

"We are very pleased with the addition of the Interland assets to our dedicated hosting family," says Lance Tracey, co-founder and chairman at Peer 1. "The refinancing done in September has contributed significantly to improving PEER 1's financial condition and liquidity and has demonstrably improved our balance sheet. With a solid financial footing, we can now get down to the task at hand, which is to complete the integration of our acquired assets and focus on growing the profitability of our business."

Peer 1 recently established a 25,000 square-foot data center facility in Los Angeles.

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