March 15, 2007 — (WEB HOST INDUSTRY REVIEW) — Data center infrastructure provider Q9 Networks (q9.com) announced on Tuesday its first quarter results for the period ended January 31.
Q9 Networks reports that revenue for the first quarter 2007 was CAD $12.8 million, a 17 percent increase over first quarter 2006 revenue of $11.0 million and an increase of 3 percent from fourth quarter 2006 revenue of $12.5 million. Breaking it down even further, colocation revenue for the first quarter 2007 was $6.1 million, managed services revenue was $4.7 million and managed bandwidth revenue was $1.8 million.
In addition, the company is now nearing completion of its new Calgary, Canada data center. The facility will have a capacity of 1,200 cabinet equivalents, 200 more than originally planned and the total capital cost is approximately $20 million, $5 million less than management’s preliminary estimate. Customer installations are expected to begin in April 2007.
“I am pleased with our growth and momentum in the quarter,” says Osama Arafat, CEO of Q9 Networks. “With our new Toronto data center now open and the Calgary data center opening in a few weeks, also under budget and with greater capacity than originally estimated, Q9 is again demonstrating its ability to execute on its expansion strategy. We will be able to significantly grow our customer base and begin realizing the leverage inherent in our business.”
