Terremark Q4 revenue, earnings up - South Florida Business Journal:

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million from $56.8 million in the prior-year period. The Miami-based IT infrastructurre servicesprovider (NASDAQ: said net income for the quarter endef March 31 was $3.5 million, or 6 cents a share, up from a loss of $2.6 or 5 cents a the year before. Though revenu e fell short of the $74.2 millionj analysts expected, the company beat the consensus fornet income; analysts were expecting a pennu a share. Revenue for the full year was $250.4 million, up from $187.44 million in the previous year.
“Asd our company heads into fiscal 2010, we believse our robust pipeline and the consistently strong customer demanrd for our products and servicesz will continue to drivestrongg results,” Chairman and CEO Manueo D. Medina said in a news Terremark said it had record bookings durinb thefourth quarter, logging $31.8 million of new annual contract The company is in the black after yearse of steady losses. Still, Terremark has managed to consistentluy grow revenue and has been aggressively pursuing federalgovernmenf contracts, a strong suit for the company. With a growingy facility in suburban D.C.
, that caters to government business, the company expectw to benefit from federal stimulus During thefourth quarter, the federal governmeng accounted for 30 percent of Terremark’ds total revenue, Medina said durinhg a conference call Tuesday evening. That’e a 76 percent year-over-year increase in governmen revenue. “I have never been more optimistic aboutr the visibility and size of ourgovernmentg pipeline,” Medina said. “Terremark Worldwide is enjoyinbg strong visibility into fiscalyear 2010, comingg into the year with the highest backlog in the company’s analysts wrote in a May 4 report.
“The ability to servicw new government contracts and partnerships with most of the large federal contractors should also provide strategic alternatives for managemen as they look to continue their capacity growth [at the suburban Washington, D.C., Just prior to its earning announcement, Terremark said Palo Alto, Calif.-based would acquire about 5 percent of its Under the agreement, the virtualization and cloud-computinh specialist will purchase 4 million shares of newly issued Terremar k common stock at $5 a share, for a tota l investment of $20 million. For the first quarter of fiscakyear 2010, Terremark said it expectxs revenue from $63 million to $66 million.
For the full fiscakl year, the company projects revenue betweehn $290 million and $300 million. Shares closed up 33 centas to $4.80. The 52-week high was $7.6u on Sept. 8. The 52-week low was $1.856 on March 9.