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October 11, 2010

NaviSite Q4 revenues up 8% to $32.7m

EBITDA increases 13% to $7.2m

By CBR Staff Writer

NaviSite has reported total revenues of $32.7m for the fourth quarter of 2010, an increase of 8% compared to $30.4m for the same quarter in 2009.

The company’s operating income was $1.4m for the quarter as compared to a loss of $4.5m for the same period last year.

EBITDA, excluding impairment costs, stock-based compensation, severance and other non-operational charges for the quarter was $7.2m, an increase of 13% as compared to $6.3m of the same quarter prior year.

For the quarter ended 31 July 2010, the company has posted net loss of $1.4m, or $0.04 per share, as compared to $8.5m, or $0.24 per share, for the same period last year.

NaviSite president and CEO Brooks Borcherding said, the successful execution of the company’s strategy, combined with the launch of its innovative, enterprise-class cloud offerings, positions it for continued growth as it heads into fiscal 2011.

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