iWeb Adds Fourth Data Center, Reports Profitable Quarter

March 1st, 2010 · No Comments

Montreal-based iWeb, which has been offering everything from cheap shared hosting accounts to dedicated and managed hosting and collocation since 1996, announced its financial results for the first quarter ending December 31, 2009.

During the meeting, management announced that Rene Bousquet would be the company’s new director. Bousquet is coming to iWeb from his position as Chief Commercial Officer at TerreStar Solutions. Bousquet has had a long and impressive career, including working as a partner at the private investment firm, Trio Capital. iWeb’s CEO said in the meeting that he expects that Bousquet will bring new ideas to the table, and reinforce the company’s marketing team.

Also at the meeting, it was announced that iWeb would add a fourth data center, with a capacity of 20,000 servers. The new data center, located in Montreal, will significantly enhance the company’s total capacity, which will be nearly 35,000 servers in all.

For investors and shareholders however, the biggest news of course is the end-of-the-quarter figures. Revenues for the quarter went from $6.1 million during the previous quarter to $7.2 million for the current quarter, representing a 19 percent increase year-over-year. Net income for the quarter was $180,000, compared to a net loss of $1,248,000 a year ago.

iWeb is publicly traded on the TSX Venture Exchange (TSVX) under the ticker IWB.

Source : http://blog.iweb.com/en/2010/02/iweb-announces-first-quarter-revenues-up-19-to-7-2m-2/3678.html