Global Telecom & Technology has reported revenues of $21m for the fourth quarter of fiscal year 2010, an increase of 27% compared to $16.4m for the same quarter previous year.
Operating income for the fourth quarter of 2010 was $0.9m, compared to an operating income of $0.084m in the corresponding quarter of 2009.
For the quarter ended 31 December 2010, the company’s adjusted EBITDA was $1.7m, compared to $1.2m in the same quarter of 2009.
The company posted net income of $0.5m, or $0.03 per share in the fourth quarter of 2010, compared to a net loss of $0.2m, or loss of $0.01 per share, for the same quarter of 2010.
For the fiscal year 2010, the company’s revenue, adjusted EBITDA, and net income increased to $81.1m, $6.7m, and $1.4m, respectively, from $64.2m, $4.2m and $0.5m in the previous fiscal year.
Global Telecom & Technology president and CEO Richard Calder Jr. said the company made significant strides during 2010 as evidenced by strong year-over-year improvement in all of their key financial measures.
"Revenue grew 26% and Adjusted EBITDA grew 58% over the full year 2009. For the fourth quarter, we grew Revenue 27% and Adjusted EBITDA 39% over the fourth quarter of 2009," Calder Jr. said.
