Jul 26, 2001 : Globix Reports Third Quarter Results
📅 - Globix Corporation (globix.com), a leading provider of advanced Internet hosting, network and applications solutions, announced the financial results for its fiscal third quarter 2001, which ended June 30, 2001.
For the quarter, Globix posted revenue of $26.2 million, a 23% increase overrevenue of $21.4 million in the third quarter of fiscal 2000. EBITDA loss (loss before net interest expense, income taxes, depreciationand amortization) was $15.5 million for the quarter, compared to $15.1million for the same quarter last year. Net interest expense was $11.5million for the quarter ending June 30, 2001.
For the quarter, net loss attributable to common stockholders was $37.8million, or $0.97 per share based on 38.9 million common shares.
"With the opening of our new data centers in New York and London, we nowhave the much-needed capacity to attract companies looking to outsourcetheir Internet solutions," said Marc H. Bell, chairman. "With $25 million innew contracts in hand, we are proving that large corporate clients such asClear Channel Interactive are confident in our ability to provide acost-effective managed solution, as well as in our long-term viability as aleader in the hosting sector."
"We continue to control costs and effectively manage working capital,particularly accounts receivable, during these turbulent market conditions,"said Brian Reach, senior vice-president and CFO. "Receivables dropped to$19.2 million in the third quarter, down from $20.4 million in the fiscalsecond quarter, while days sales outstanding continued to improve, coming inat 67 days versus 68 days last quarter. Approximately 75% of our recurringrevenue came from enterprise customers as we continued to improve our clientcredit quality. Until market conditions show marked signs of improvement, wewill remain cautious in our forward guidance."
Mr. Bell continued, "In order to allow me more time to focus on ourfinancing opportunities, Peter Herzig has been appointed chief executiveofficer and Marc Jaffe chief operating officer. We are confident, based ontheir backgrounds, that Peter and Marc will be able to carry us towardprofitability."
Globix estimates total revenue for fourth quarter fiscal 2001 to be in therange of $26 million to $28 million.
For the quarter, Globix posted revenue of $26.2 million, a 23% increase overrevenue of $21.4 million in the third quarter of fiscal 2000. EBITDA loss (loss before net interest expense, income taxes, depreciationand amortization) was $15.5 million for the quarter, compared to $15.1million for the same quarter last year. Net interest expense was $11.5million for the quarter ending June 30, 2001.
For the quarter, net loss attributable to common stockholders was $37.8million, or $0.97 per share based on 38.9 million common shares.
"With the opening of our new data centers in New York and London, we nowhave the much-needed capacity to attract companies looking to outsourcetheir Internet solutions," said Marc H. Bell, chairman. "With $25 million innew contracts in hand, we are proving that large corporate clients such asClear Channel Interactive are confident in our ability to provide acost-effective managed solution, as well as in our long-term viability as aleader in the hosting sector."
"We continue to control costs and effectively manage working capital,particularly accounts receivable, during these turbulent market conditions,"said Brian Reach, senior vice-president and CFO. "Receivables dropped to$19.2 million in the third quarter, down from $20.4 million in the fiscalsecond quarter, while days sales outstanding continued to improve, coming inat 67 days versus 68 days last quarter. Approximately 75% of our recurringrevenue came from enterprise customers as we continued to improve our clientcredit quality. Until market conditions show marked signs of improvement, wewill remain cautious in our forward guidance."
Mr. Bell continued, "In order to allow me more time to focus on ourfinancing opportunities, Peter Herzig has been appointed chief executiveofficer and Marc Jaffe chief operating officer. We are confident, based ontheir backgrounds, that Peter and Marc will be able to carry us towardprofitability."
Globix estimates total revenue for fourth quarter fiscal 2001 to be in therange of $26 million to $28 million.
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