NetNation Reports 33 Percent Increase In Revenue For Year-End [...]

NetNation Reports 33 Percent Increase In Revenue For Year-End Fiscal Results

📅 March 22, 2002 - Vancouver-based NetNation Communications, Inc., a global web hosting provider and domain name registrar, today announced financial results for its fourth, consecutively profitable quarter, and its year ended December 31, 2001. The company posted record yearly revenues.

NetNation's (netnation.com -> hostway.com) annual revenues for 2001 were US $6,646,433, a 33 percent increase over 2000 revenues. Year-end net earnings were US $757,917 or net earnings per share of US $0.05, compared well over a net loss of US$3,971,597 or a net loss per share of US$0.26 for 2000. Improving 69 percent, gross profit margins rose 5 percent.
The total cash balance for the year ended December 31, 2001 was US $1,678,950, rising 124 per cent from December, 2000 results. Generated entirely through Company operations, this increase was not raised through external financing.
The fourth profitable quarter for the Company, fourth quarter results ended December 31, 2001. Revenues for the fourth quarter rose 26 percent to US $1,764,324, compared to revenues of US$1,401,584 in the same quarter of 2000. Net earnings were US$515,264 or US$0.03 per share, compared to a loss of US$1,686,533 or a loss per share of US$0.11 for the same period in 2000.
NetNation's cash balance continued to increase. The cash balance increased to US$1,678,950 from US$1,122,477 at the end of the previous quarter - an increase of US$556,473 or 50 per cent. Rising 71 per cent, gross profit margins improved by one per cent for the same period in 2000.

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

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