Aug, 2002 : Radiant Announces Second Quarter Results

📅 August 9, 2002 - Internet solution provider Radiant Communications Corp. (Radiant.net -> hostpapa.com) announced on Thursday that it has released its financial results for its second quarter of 2002.

The company says it completed the quarter with strong customer growth and an increase in revenue of 11 percent, to $2.725 million over the previous quarter.
Radiant says that over the past year, the company has focused on expanding its hosting and connectivity business, which generates revenues under long-term contracts. The company says this segment grew by 14 percent over the first quarter.
Net loss for the quarter was $1.746 million, or 14 cents per share, a reduction of 49 percent from the same period last year. The company says this improvement is the result of progress in managing the cost of sales and operating expenses.
"Since completing the national expansion of our connectivity services and upgrading our Web hosting facilities last year, our primary focus has been generating improved profitability and cash flow from our business," says Jim Grey, President & CEO. "Our recurring revenues now make up almost 80% of the business and our proprietary service provisioning system allows us to add new customers with minimum incremental cost."

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Company: Radiant.net [radiant.net -> hostpapa.com]

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