Aliso Viejo, California – (The Hosting News) – May 20, 2009 – Provider of web solutions including managed services, dedicated servers, Windows and Linux web hosting, sharepoint hosting, and Microsoft exchange email services, Alentus Corporation, has released its first quarter financial results.
William King, CEO of Alentus remarked, ”We are pleased with the improvement in our net income and EBITDA made possible by our strategy to consolidate acquired businesses and reduce operational expenses through economy of scale and incorporating best practices. We acquired several businesses in 2008 and have made considerable progress in those optimization efforts. Management continues to work 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.”
Revenue for the quarter-end March 31, 2009 increased substantially over the prior year same-quarter, increasing by 68% from $972,333 in 1Q2008*. Compared to the prior sequential quarter Alentus also achieved a solid improvement in net income, from $(303,995) in 4Q2008 to $(257,150) current period and normalized EBITDA** (Earnings Before Interest, Tax, Depreciation, and Amortization) from $143,866 in 4Q2008 to $182,503 current period.
Normalized EBITDA reported for the first quarter includes an adjustment of $23,333 to reflect non-cash stock compensation, $175,663 for depreciation and $240,657 interest payments primarily associated with acquisition debt.
Mr. King added, ”As previously announced, Alentus recently completed an additional acquisition and we are optimistic that we will be able to grow that business as well and it should add to the overall results as the year progresses.”
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, share point 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.
To learn more, please visit: www.alentus.com.