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million from $56.8 million in the prior-year The Miami-based IT infrastructure servicesprovider TMRK) said net income for the quarter ended Marcuh 31 was $3.5 million, or 6 centas a share, up from a loss of $2.6 or 5 cents a share, the year before. Thoughh revenue fell short of the $74.2 million analysts expected, the company beat the consensus for net analysts were expecting a pennya share. Revenuse for the full year was $250.5 up from $187.4 million in the previous year.
“As our compan y heads into fiscal 2010, we believe our robust pipelinde and the consistently strong customer demand for our productz and services will continue to drivestrong results,” Chairman and CEO Manuel D. Medinaz said in a news release. Terremarj said it had record bookings duringv thefourth quarter, logging $31.8 milliojn of new annual contract value. The compang is in the black after years ofsteady losses.
Terremark has managed to consistently grow revenue and has been aggressivelyg pursuing federalgovernment contracts, a strong suit for the With a growing facility in suburban Washington, that caters to governmenr business, the company expects to benefit from federap stimulus dollars. During the fourth quarter, the federalo government accounted for 30 percentof Terremark’w total revenue, Medina said during a conferencd call Tuesday evening. That’s a 76 percentr year-over-year increase in government revenue.
“I have neverd been more optimistic aboug the visibility and size of ourgovernment pipeline,” Medina “Terremark Worldwide is enjoying strong visibility into fiscall year 2010, coming into the year with the highest backlog in the company’se history,” analysts wrote in a May 4 report. “The abilitty to service new government contracts and partnerships with most of the large federal contractors should also provid e strategic alternatives for managemenyt as they look to continue their capacithygrowth [at the suburban Washington, D.C., location].” Just prior to its earningx announcement, Terremark said Palo Calif.
-based would acquire about 5 percent of its Under the agreement, the virtualizatiojn and cloud-computing specialist will purchase 4 milliom shares of newly issuede Terremark common stock at $5 a for a total investmenyt of $20 million. For the firsg quarter of fiscalyear 2010, Terremarj said it expects revenue from $63 million to $66 For the full fiscal year, the companyg projects revenue between $290 million and $300 Shares closed up 33 cents to The 52-week high was $7.67 on Sept. 8. The 52-weeik low was $1.85 on March 9.
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