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Customer CommentsAlentus Corporation Announces Year End 2008 and Fourth Quarter Financial Performance
Aliso Viejo, California. - April 6, 2009
ALISO VIEJO, Calif., Apr 6, 2009 (BUSINESS WIRE) -- Alentus Corporation (Pink Sheets:ALNS), a leading provider of web solutions including managed services, sharepoint hosting, Windows and Linux web hosting, and Microsoft exchange email services, today announced year end and fourth quarter results for the period ended December 31, 2008. The unaudited report can be read in its entirety at http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ALNS
Revenue and Gross Profit for the year-end December 31, 2008 increased dramatically over the prior year-end when the company had only one quarter of operations included in its year-end results. Revenues for the year-over-year quarter comparison increased by 100% with the latest quarter including the new acquisitions. Alentus also achieved a solid increase in EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) and accomplished several key objectives, including the integration of our London, Austin and Columbus based acquisitions made in the first half of 2008.
| 2008 YEAR END RESULTS | ||
| Year ended December 31, 2007 |
Year ended December 31, 2008 |
|
| Revenues | $ 883,933 | $ 6,398,994 |
| Cost of Revenues | $ 159,596 | $ 1,691,456 |
| Gross Profit | $ 724,337 | $ 4,707,538 |
| Total Operating Expenses | $ 603,398 | $ 4,742,566 |
| Net Income | $ 64,325 | $ (744,853) |
| Normalized EBITDA* | $ 183,345 | $ 712,886 |
*Normalized EBITDA for the full year includes an adjustment of $98,188 to reflect non-cash stock compensation and $709,825 interest payments primarily associated with acquisition debt.
| DEC 31, 2008 QUARTER END RESULTS | |
| Quarter ended December 31, 2008 |
|
| Revenues | $ 1,763,797 |
| Cost of Revenues | $ 451,282 |
| Gross Profit | $ 1,312,515 |
| Total Operating Expenses | $ 1,397,104 |
| Net Income | $ (303,995) |
| Normalized EBITDA** | $ 143,866 |
**Normalized EBITDA for the quarter ended Dec 31, 2008 includes an adjustment of $69,078 to reflect non-cash stock compensation and $219,406 interest payments primarily associated with acquisition debt.
"Despite a challenging economic environment, Alentus achieved triple digit growth in both revenue and EBITDA, with normalized EBITDA surpassing 11% for the fiscal year." said William King, CEO. “Management is now working diligently with both existing and new lenders to reduce and restructure the debt used to make our initial acquisitions. We feel confident that these discussions will be fruitful and that we will succeed in reducing our debt service which would greatly improve our bottom line.”
Mr. King added, "Alentus is well positioned to capitalize on the prospects of an improving economy and growth in 2009, both through new acquisitions and increasing the utilization of our existing operations."
About Alentus Corporation
Alentus Corporation is based in Aliso Viejo, California, with Data Center and Network Operations Center facilities in Edmonton, Alberta, Canada, Columbus and Austin in the United States and in London, United Kingdom. The company provides Microsoft Windows asp.net hosting, RedHat Linux website hosting, sharepoint hosting, SQL and mySQL database hosting, Microsoft Exchange Hosting, Virtual Private Servers (VPS), and dedicated server solutions to thousands of small- to medium-sized companies and customized solutions to larger organizations including many Fortune 500 clients. Alentus is a Microsoft Gold Certified Partner, RedHat Ready Hosting Partner, and MySQL Enterprise Ready Partner.
Forward-looking statements:
The statements made in this press release, which are not historical facts, may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
