May, 2002 : Profitability, Positive Cash Flow Continue for NetNation

📅 May 13, 2002 - Vancouver-based Web hosting firm NetNation Communications (NetNation.com -> hostway.com) today announced its fifth consecutive profitable quarter.

Net earnings for the quarter were $214,321 (US), compared to net earnings of $18,060 or net earnings per share for the same period in 2001.
Revenues for the quarter were $1,686,431 (US), compared to $1,574,786 for the same quarter of 2001, marking an increase of seven per cent.
In its quarterly report filing, NetNation said the lager revenues were due to the increase in the number of Web sites it hosted and continued growth in the domain name registration segment of its business. DomainPeople, the company's domain name registration wing, is an ICANN-accredited registrar.
"The introduction of the .info and .biz domain names in the second half of 2001 and the introduction of the .name domain names in 2002 have contributed to the growth in domain name registration revenues," the company said.
Shares in NetNation closed at $1.16 Friday.

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URL source: http://www.thewhir.com/marketwatch/net051302.cfm

Company: NetNation [netnation.com -> hostway.com]

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