Feb 11, 2003 : NetNation Posts Record Revenues in 2002

📅 February 11, 2003 - Web hosting provider and domain name registrar NetNation Communications Inc. (NetNation.com -> hostway.com) announced on Tuesday that it has released its financial results for the fourth quarter ended December 31, 2002.

The company says it posted record yearly revenues for 2002. Annual revenues were US$6,818,316, an increase of US$171,883, or about three percent, over revenues for 2001. Net earnings for the year were US$938,573, or approximately six cents per share, compared to US$757,917, or approximately five cents per share, in 2001.
NetNation's total cash balance at the end of 2002 was US$3,334,561, compared to US$1,678,950 at the end of 20001, an increase of US$1,655,611, or approximately 99 percent. The cash increase, says NetNation, was generated entirely through the company's operations, and not through any external funding.
The fourth quarter of 2002 marked the eighth profitable quarter for the company, says NetNation, and the seventh consecutive quarter of positive cash flow. Revenues for the fourth quarter were US$1,654,497, a decrease of about six percent compared to the fourth quarter of 2001.

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URL source: http://www.thewhir.com/marketwatch/net021103.cfm

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

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