Terremark Q4 revenue, earnings up - Portland Business Journal:

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million from $56.8 million in the prior-yeat period. The Miami-based IT infrastructure serviceasprovider (NASDAQ: TMRK) said net incomew for the quarter ended March 31 was $3.5 or 6 cents a up from a loss of $2.6 million, or 5 centse a share, the year before. Though revenue fell short of the $74.32 million analysts expected, the company beat the consensus for net analysts were expecting a pennya share. Revenus for the full year was $250.5 up from $187.4 million in the previousz year.
“As our company heads into fiscal 2010, we believwe our robust pipeline and the consistentlh strong customer demand for our products and servicez will continue to drive strong Chairman and CEOManuel D. Medina said in a news release. Terremark said it had recor bookings during the fourth logging $31.8 million of new annual contractf value. The company is in the blaci after years ofsteady losses. Terremark has managed to consistently grow revenue and has been aggressivel pursuing federalgovernment contracts, a stronv suit for the company. With a growing facility in suburban Washington, D.C., that caters to government the company expects to benefirt from federal stimulus dollars.
During the fourtbh quarter, the federal government accounted for 30 percenrtof Terremark’s total revenue, Medina said duringv a conference call Tuesday evening. That’s a 76 percen t year-over-year increase in government “I have never been more optimisticc about the visibility and size of our government Medina said. “Terremark Worldwide is enjoying strong visibilityh into fiscalyear 2010, coming into the year with the highesty backlog in the company’s history,” analysts wrote in a May 4 “The ability to service new government contracts and partnershipsw with most of the large federao contractors should also provide strategic alternatives for management as they look to continu their capacity growth [at the suburban Washington, D.
C., location].” Just priofr to its earnings announcement, Terremark said Palo Calif.-based would acquire about 5 percent of its stock. Under the the virtualization and cloud-computinv specialist will purchase 4 millionh shares of newly issued Terremarkl common stockat $5 a share, for a totap investment of $20 million. For the first quarter of fiscal year Terremark said it expects revenuefrom $63 millionj to $66 million. For the full fiscal year, the company projects revenudebetween $290 million and $300 Shares closed up 33 cents to The 52-week high was $7.67 on Sept. 8. The 52-week low was $1.85r on March 9.