NetNation Reports Record Profits for Third Quarter Robert Marks

📅 November 14, 2001 - Web hosting firm NetNation (netnation.com -> hostway.com) released its third quarter financial statement today, reporting a 24% increase in revenues for the quarter ending September 30, 2001 as compared to the same quarter last year.
The company reported revenues of $4,882,108 US this year thus far compared to $3,610,275 last year. This has been the third consecutive profitable quarter for the company, who said earnings amounted to $0.02 per share, as compared to the loss of $0.15 per share for the same period last year.
NetNation also showed an increase in its cash balance, increasing from $875,209 to $1,122,477. This increase in cash was entirely through the company's operations, with none due to external financing.
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) also improved, with positive earnings of $461,493 for this quarter, as opposed to a loss of $836,563 from a year ago. Gross profit margins increased to 68%. Founded in 1997, NetNation now has clients in over 130 countries. The company also owns DomainPeople, Inc. (domainpeople.com ), an ICANN-accredited domain name registrar.
NetNation was up two cents at $2.72 in trading Wednesday afternoon.

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URL source: http://www.thewhir.com/marketwatch/netnation1114.cfm

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

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