Aug 3, 2001 : NetNation Reports Record Revenues in Q2

📅 August 3, 2001 - NetNation Communications, Inc. (netnetion.com), an international web hosting and domain name registration company, today announced profitable earnings and record revenues in the second quarter of 2001.

NetNation generated revenues of US$1,615,550 in the second quarter of 2001,as compared to US$1,249,710 for the same period last year, an increase ofUS$365,840 or 29%. For the six-month period ended June 30, 2001, revenueswere US$3,190,336 as compared to US$2,241,225 for the same period in 2000,an increase of US$949,111, or 42%.
NetNation continues its record of profitability with net earnings ofUS$14,596 (US$0.00 per share) in the quarter ended June 30, 2001 compared toa loss of US$635,191(US$0.04 per share) for the same period in 2000. Forthe six months ended June 30, 2001, net earnings were US$32,656 (US$0.00 pershare) compared to a net loss of US$1,217,493 (US$0.08 per share) for thesame period in 2000.
More significantly, NetNation's cash balance increased substantially toUS$875,209 from US$656,564 at the end of the previous quarter, an increaseof US$218,645 or 33%. Cash from operating activities for the second quarter2001 was US$275,705 as compared to US$23,755 cash used in operatingactivities for the previous quarter ended March 31, 2001. This increase incash was generated entirely through company operations and not throughexternal financing.
EBITDA was US$269,364 for the second quarter of 2001, compared to a negativeEBITDA of US$436,951 in the second quarter of 2000. For the six monthsended June 30, 2001 EBITDA was US$537,084 compared to a negative EBITDA ofUS$868,960 for the same period in 2000. Gross profit margins improved to68% for the second quarter 2001 from 60% for the second quarter 2000 and to68% for the six months ended June 30, 2001 from 60% for the same period in2000.
Some of NetNation's highlights from Q2:
Partnered with Sympatico-LycosJoined with Intranets.com to offer co-branded intranet applicationservices clientsEntered into alliance with Dominion Information Services to providedomain name registrationLaunched pre-registration of new top-level domain names .info and.biz, on DomainPeople web siteLaunched domain forwarding services
NetNation's prospects and plans for the near future:
Launch NetNation enhanced-dedicated hosting servicesProvide registration from the DomainPeople web site(domainpeople.com 👉 Total Reviews: 1
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👈 Official Responses: 0), of the new top-level domain names for existingpre-registration orders, Sunrise trademark holders, and the general publicOffer domain/email forwarding and business card web page servicesOffer managed solutions for corporate and private domain nameregistration clients, including consulting, IP protection, renewal andadministrative services.Pursue acquisition of accounts of smaller web hosting and domainname registration
For a more detailed financial statement, please see the company's website.