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Web.com Reports First Quarter Financial Results.
2006-05-09, HostMan.biz Web.com, Inc. reported results for its first quarter ended March 31, 2006. Summary of First Quarter 2006 Results: -- Total revenues for the quarter were $12.3 million, up from $12.1 million in the November 2005 quarter. -- Net income was negative $5.5 million, or $(0.34) per share, including $5.3 million of stock-based compensation and income tax benefits of $0.9 million, versus a negative $2.6 million, or $(0.16) per share, in the November 2005 quarter. -- Adjusted net income(1) was positive $0.1 million, or $0.01 per share, up from negative $0.9 million, or $(.05) per share, in the November 2005 quarter. -- Net subscriber growth for the quarter was approximately 12,000, or 9%, up from approximately 137,000 in the November 2005 quarter to approximately 149,000. This increase includes record organic growth of approximately 4,000 accounts. ``The results from this quarter demonstrate our progress in stabilizing the business, diversifying into web services and building a business model that drives subscriber growth,'' stated Jeff Stibel, President and CEO, Web.com. ``Notably, Web.com achieved record organic subscriber growth and generated positive adjusted net income, a key financial milestone. I am proud of our team and what we've been able to accomplish in a very short time.'' ``Web.com reported improved financial results, highlighted by positive adjusted net income, by focusing on core competencies, forging partnerships and executing the company's turn-around strategy,'' stated Gonzalo Troncoso, Executive Vice President and Chief Financial Officer. ``We continued to maintain a firm grasp on cost controls, improve customer acquisition and build a strong infrastructure for growth.'' |
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