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million from $56.8 million in the prior-year The Miami-based IT infrastructure servicesprovidedr (NASDAQ: TMRK) said net incom e for the quarter ended March 31 was $3.5 million, or 6 centss a share, up from a loss of $2.6 or 5 cents a share, the year before. Thougn revenue fell short of the $74.2 million analysts the company beat the consensus fornet income; analysts were expectinfg a penny a share. Revenue for the full year was $250.t million, up from $187.4 million in the previouxs year.
“As our company headas into fiscal 2010, we believs our robust pipeline and the consistently strongv customer demand for our products and services will continue to drivdstrong results,” Chairman and CEO Manuelp D. Medina said in a news release. Terremark said it had recored bookings during thefourth quarter, logging $31.8 million of new annuak contract value. The company is in the blaclk after years ofsteady losses.
Terremark has managed to consistentl grow revenue and has been aggressively pursuing federalgovernmentr contracts, a strong suit for the With a growing facility in suburban Washington, that caters to government the company expects to benefitr from federal stimulus dollars. During the fourt h quarter, the federal government accounted for 30 percenof Terremark’s total Medina said during a conference call Tuesday That’s a 76 percent year-over-yeadr increase in government “I have never been more optimistic abourt the visibility and size of our government pipeline,” Medin a said.
“Terremark Worldwide is enjoyinv strong visibility into fiscalyear 2010, coming into the year with the highesyt backlog in the company’s history,” analysta wrote in a May 4 report. “The ability to service new government contracts and partnerships with most of the larges federal contractors should also provide strategic alternatives for management as they look to continued their capacitygrowth [at the suburban Washington, D.C., location].” Just priorr to its earnings announcement, Terremarl said Palo Alto, Calif.
-based would acquirw about 5 percent of its Under the agreement, the virtualizatiob and cloud-computing specialist will purchase 4 million sharesz of newly issued Terremark common stock at $5 a for a total investment of $20 million. For the first quarter of fiscapyear 2010, Terremark said it expects revenu e from $63 million to $66 For the full fiscal year, the company projects revenue betweenm $290 million and $300 million. Shares closed up 33 centsa to $4.80. The 52-week high was $7.67 on 8. The 52-week low was $1.85 on Marcbh 9.
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