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Web Hosting Provider, Cbeyond, Reports Second Quarter Revenue Growth
Atlanta, Georgia - (The Hosting News) - August 20, 2007 - Web hosting and managed integrated VoIP, broadband and mobile small business services provider, Cbeyond, has reported its financial results for the second quarter, ending June 30, 2007, including revenues of $67.7 million, up 28.9% over the second quarter of 2006.
Other financial and operating highlights include the following:
- Strong second quarter revenue growth with revenues of $67.7 million, up 28.9% over the second quarter of 2006. The second quarter of 2006 included a $0.9 million positive adjustment relating to customer promotional liabilities recorded in prior periods. Excluding this benefit to second quarter 2006 revenue, growth over the second quarter of 2006 was 31.1%;
- Net income of $2.9 million in the second quarter of 2007 compared to $1.4 million in the second quarter of 2006;
- Total adjusted EBITDA of $12.6 million during the second quarter of 2007, an increase of 34.3% from the second quarter of 2006 (see Schedule 1 for reconciliation to net income);
- Rapid growth in customers with 2,009 net customer additions for the quarter, bringing the total customers in Cbeyond's seven operating markets to 31,175; and
- Average monthly revenue per customer (ARPU) of $748 during the second quarter of 2007 compared to $744 in the first quarter of 2007.
For more information about Cbeyond, please visit: www.cbeyond.net.
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