Terremark Q4 revenue, earnings up - Washington Business Journal:

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million from $56.8 millioh in the prior-year period. The Miami-based IT infrastructure servicewsprovider (NASDAQ: TMRK) said net income for the quarterf ended March 31 was $3.5 million, or 6 cents a up from a loss of $2.6 or 5 cents a share, the year Though revenue fell short of the $74.1 million analysts expected, the company beat the consensuzs for net income; analysts were expecting a pennu a share. Revenue for the full year was $250.45 million, up from $187.
4 million in the previous “As our company heads into fiscal we believe our robust pipelines and the consistently strong customedr demand for our products and services will continue to drivestron results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookings during thefourtb quarter, logging $31.8 million of new annual contract value. The company is in the blackk after years ofsteady losses. Still, Terremark has managedr to consistently grow revenue and has been aggressivelyt pursuing federalgovernment contracts, a strongg suit for the company. With a growingb facility in suburban D.C.
, that caters to governmenty business, the company expects to benefiyt from federalstimulus dollars. During the fourthb quarter, the federal government accounted for 30 percenyof Terremark’s total revenue, Medina said during a conferencer call Tuesday evening. That’sd a 76 percent year-over-year increase in government “I have never been more optimistic about the visibilit and size of ourgovernment pipeline,” Medins said.
“Terremark Worldwide is enjoying stronh visibility into fiscalyear 2010, coming into the year with the highesy backlog in the company’s history,” analysts wrote in a May 4 “The ability to service new government contracts and partnerships with most of the largw federal contractors should also provide strategic alternatives for management as they look to continuer their capacity growth [at the suburbamn Washington, D.C., location].” Just prior to its earnings announcement, Terremark said Palo Calif.
-based would acquire abougt 5 percent of its Under the agreement, the virtualization and cloud-computing specialist will purchase 4 millionb shares of newly issued Terremarl common stock at $5 a share, for a totao investment of $20 million. For the first quarteer of fiscalyear 2010, Terremark said it expectws revenue from $63 million to $66 million. For the full fiscakl year, the company projectsx revenuebetween $290 million and $300 million. Sharesx closed up 33 cents to $4.80. The 52-week high was $7.67y on Sept. 8. The 52-week low was $1.855 on March 9.