March 2, 2007 — (WEB HOST INDUSTRY REVIEW) — Internet infrastructure provider PEER 1 Network Enterprises (peer1.com) announced on Wednesday it has released the companys financial results for the second quarter of fiscal year 2007 for the three months ended December 31, 2006.
During this time, PEER 1′s revenue increased 11 percent to $18.13 million, compared to the previous year’s $16.29 million. Gross profit was $6.75 million, an increase of 15 percent from $5.88 million for the previous year.
Operating income was $2.28 million, showing an increase of 113 percent compared to the previous year’s operating profit of $1.07 million, while net profit was $0.85 million compared to the previous year’s net loss of $0.48 million. Normalized EBITDA for the quarter was $5.06 million, an increase of 41 percent compared to the previous year’s $3.58 million.
“Our second quarter financial results are the strongest quarterly figures that PEER 1 has reported to date,” says Fabio M. Banducci, PEER 1′s president. “We saw growth from new and existing customers during the quarter as well as continued margin improvement and look forward to extending our leadership position further in the quarters ahead.”
