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Technology Stocks : Internap Network Services Corporation

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To: Dave B who wrote (393)	5/16/2002 3:58:46 PM
From: Jibacoa	Read Replies (2) of 1011

Total Customers: 2002 1stQ=1,014 2001 4thQ= 974 2001 3rdQ= 894 <<Total number of customers has only increased by 287 from last year 1st Q >> Yes from 727 to 1,014 the difference is only 287 in "total customers". An increase of 39.48% in the "total number" in one year doesn't seem bad especially with the kind of business environment they had to deal in the last year. (Most of the other companies in the field LOST customers instead of GAINING.) But more important that the actual GAIN in the TOTAL NUMBER of CUSTOMERS is the the QUALITY of the new customers: <<Internap added 142 revenue-producing customers during the first quarter. Newly installed customers for the quarter included : American Airlines, Aramark, CMS Energy, Compaq Computer, McKinsey & Co., Morningstar and The Economist Group. Customers who recently signed and are awaiting installation include: Charles Schwab, DHL Worldwide Express and Southwest Airlines.>> <<Revenue impact due to customer churn was less than 2 percent. Revenue impact due to pricing pressure from current customers was less than 1 percent. >> That is because the customers that are leaving are very small, equivalent to less than 20% of the revenue of the regular INAP customer. I will be satisfied if Internap continues to have a 39% GAIN in TOTAL CUSTOMERS every year for the next several years. One problem with Internap is that many people associate the company with the dot.coms and the telephone companies under the old saying "Birds of a feather flock together".<g> But I think INAP is a bird of different color feathers and the CEO at the last meeting said he was going to devote some time to point out the differences and try to correct the misconception. I think that he will not have too much problem succeeding if Internap continues to grow quality customers at the present rate. Bernard

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