February 14, 2007 — (WEB HOST INDUSTRY REVIEW) — Web hosting and networking provider Globix (globix.com) recently announced its financial results for its fiscal 2007 first quarter ended December 31, 2006.
Globix says its revenue from continuing operations was $18.1 million with a net quarterly profit of $5.2 million, including the gain of $6.4 million on the sale of its US hosting division.
The company says after its US hosting sale, it is now a transport only company focused on its subsidiary NEON Communications, a facilities-based wholesale communications provider. Prior to this quarter, Globix sold its UK hosting division and its former corporate headquarters building in New York City.
“As a result of the transactions completed in the last twelve months, we have significantly improved the company’s liquidity and financial position, although we continue to post an operating loss,” says Kurt Van Wagenen, CEO and president of Globix. “We are coming off a year where we have had very good revenue growth in the transport business and we are positioned well to take advantage of opportunities going forward.”
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