Limelight Networks posts $9.2 million quarterly loss, but $34.89 million overall profit for 2009
FEBRUARY 24, 2010 -- Limelight Networks Inc., a fiber optic network company in Tempe, Ariz., reported a net loss of $9.2 million in the third quarter ending 31 Dec. 2009. The company reports revenues of $33.63 million and expenses of $42.96 million during the period.
For the year ended 31 Dec. 2009, Limelight Networks reported a profit of $34.89 million, on revenues of $131.66 million and expenses of $96.98 million.
Limelight Networks is a managed infrastructure company that routes data traffic over a private fiber-optic backbone rather than through the Internet.
One year ago, the company reported a $13.94 million net loss in the quarter ended 31 Dec. 2008, and a net loss of $63.07 million in the year ended 31 Dec. 2008.
Fourth-quarter highlights for Limelight Networks included generation of $5.1 million in cash from operations, as well as a agreement to acquire EyeWonder Inc., a media ad serving vendor, company officials say.
"Business and consumer activity continues to rapidly migrate online, creating a world of hyper-connected users who expect all of their screens and devices to have broadcast quality access to content, information, games, social networks, and purchases, at any time and from any location," says Jeff Lunsford, the Limelight Networks chairman and chief executive officer.
The company's fourth quarter revenue of $33.6 million was up 3 percent from third quarter 2009 revenue. Capital investments were $3.8 million. The company ended the quarter with no bank debt and about $154 million in cash and short-term marketable securities, company officials say.
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