Rackspace Hosting has reported net revenue of $178.8m for the fourth quarter of 2009, an increase of 23.2% compared to $145m for the same period last year. Net revenue was up 5.5% sequentially.
The company posted an adjusted EBITDA of $59.1m for the quarter, a 6.1% increase compared to the fourth quarter of 2009, and 31.8% increase compared to first quarter of 2009. Operating income was $16.73m, compared to an operating income of $13.02m for the same period last year.
For the quarter ended March 31, 2010, the company posted a net income of $9.81m, an increase of 48.9% compared to $6.59m a year-ago. Diluted net income per share for the quarter was $0.07, compared to $0.05 for year ago quarter.
Managed hosting revenue of the company increased to $159.5m, up from $152.4m in the fourth quarter of 2009. Cloud revenue increased to $19.3m in the quarter, up from $17.1m in the fourth quarter of 2009.
Total server count increased to 56,876, up from 56,671 servers at the end of the fourth quarter of 2009, and total customers increased to 99,446, up from 90,925 at the end of the fourth quarter of 2009.
Lanham Napier, president and chief executive officer of Rackspace, said: “We are very pleased with our performance in Q1 as we accelerated revenue growth while improving margins. 2010 will be an exciting year for Rackspace. Our advantages as the leader and specialist in hosted computing, and provider of Fanatical Support, are validated every day by customers who pay us premium rates, stay with us for years, and recommend us to their friends.
”Our customers are incredibly loyal. We aspire to serve them so well that we will be known as the most trusted company in all of IT. We have earned a strong position in the market, and we will create more and more value for our stakeholders. We see the opportunity, and we intend to grab it.”
