GBIX beat whisper numbers by .64! $1.06 loss... they blew away the estimate of ($1.60). GBIX up in a down NASDAQ market. GBIX appears to have a better valuation as their revs start to soar specially in view of their new sites opening up. I think this one should be a winner from here in, did anyone notice the drop in EXDS could this have anything to do with the added competition from GBIX?
GLOBIX CORP (NASDAQ: GBIX.O) - 50 7/8 +0 (0.0%)
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News July 19, 17:17 Eastern Time
GLOBIX POSTS RECORD THIRD QUARTER REVENUE INTERNET SEGMENT RECORDS 107% REVENUE INCREASE
NEW YORK, Jul 19, 1999 /PRNewswire via COMTEX/ -- Globix Corporation (Nasdaq: GBIX) today announced results for the fiscal third quarter ended June 30, 1999. For the third quarter ended June 30, 1999, revenues increased 65% to a record $9.4 million compared with $5.7 million for the quarter ended June 30, 1998. Revenues for the nine months ended June 30, 1999 increased 51% to $22.4 million up from $14.8 million for the nine months ended June 30, 1998.
Revenues from the Internet Segment increased 107% to $3.4 million forthe three months ended June 30, 1999 from $1.6 million for the three months ended June 30, 1998. For the nine months ended June 30, 1999 Internet Segment revenues increased 90% to $8.4 million, an increase of $3.9 million when compared to the comparable period ending June 30, 1998. Revenues from the Server Sales and Integration Segment for the three months ended June 30,1999 increased 48% to $6.0 million from $4.1 million for the three months ended June 30, 1998. Revenues from that Segment for the nine months ended June30, 1999 increased 35% to $14.0 million up from $10.4 million for the prior nine-month period ended June 30, 1998.
The net loss for the quarter ended June 30, 1999 was $8.8 million or $1.06 per share, as compared to a loss of $4.1 million or $1.16 per sharefor the quarter ended June 30, 1998. The increase in loss was primarily attributable to an increase in Selling, General and Administrative expenses associated with the Company's expansion plans. These expenses included an increase in aggregate salaries from $2.0 million for the three months ended June 30, 1998 to $5.0 million for the three months ended June 30, 1999. This increase was due to the number of full time employees increasing from over 120 to over 340 during the period, necessitated by the completion of the Company's new SuperPOP Internet Data Centers in New York, Santa Clara, CAand London. EBITDA loss (loss before interest, taxes, depreciation, amortization and other non-cash charges) was $5.7 million for the 3rd quarter of 1999, compared to $1.1 million for the 3rd quarter of 1998.
"This has been a historic quarter for Globix," said Marc H. Bell, Globix Chairman and CEO. "In addition to hitting record quarterly revenues for the fifth straight quarter, this is the seventh consecutive quarter of sequential revenue growth from our Internet segment. Our new facilities, network and staff make Globix well positioned to capitalize on the growing trend of corporations outsourcing their Internet and advanced technological services."
About Globix Globix Corporation is a leading provider of Internet connectivity and advanced Internet services for businesses in the United States and Europe. Through its high-speed, fault-tolerant, fiber-optic network and state-of-the-art Internet Data Centers in New York City, Santa Clara, CA and London, UK, Globix delivers superior reliability, security and performance to companies using the Internet to deploy mission-critical business strategies. Cutting-edge applications include Dedicated Access, Co-location, Web Hosting, Streaming Media, E-Commerce and Corporate Training.
Management's conference call to discuss the financial results can beheard today July 19, 1999 at 5:00 p.m. eastern standard time live on the Globix Web site at globix.com or at vcall.com, a replay of the call will be available on both sites shortly after the completion. |
