Atlanta, Georgia – (The Hosting News) – February 9, 2006 – Website hosting provider, Interland, which is transitioning its name to Web.com, Inc., has reported results for its transition period ended December 31, 2005.
Interland has moved from its past practice of reporting on a fiscal year ending August 31, to a conventional calendar reporting year ending December 31 beginning on January 1, 2006. As a result, the company is required to report financial results for the transition period including the months of September, October, November (which was previously reported) and December. This transition report is pursuant to Section 13 of the Securities Exchange Act of 1934 for the transition period from September 1, 2005 to December 31, 2005.
Summary of Four Month Transition Period Results:
Â –Â Total revenues for the four-month period were $16.3 million.
–Â Net loss for the four-month period was $3.0 million, or
Â Â Â Â negative $0.19 per share.
–Â Earnings before interest, taxes, depreciation, and
Â Â Â Â amortization (“EBITDA”) (1) for the four-month period
Â Â Â Â was negative $1.5 million.Â This included restructuring charges,
Â Â Â Â net of one time gains, of roughly $0.8 million and stock-based
Â Â Â Â compensation of approximately $0.5 million.
–Â Cash and investment position, which includes cash and cash
Â Â Â Â equivalents of $17.4 million and restricted investments of $9.3
Â Â Â Â million, was $26.7 million.
According to Jeff Stibel, President and CEO of Interland, ”This transition period gives investors an added window into our financials which showed the overall health of the business getting stronger.”
For further information on the quarter, please refer to the company’s Form 10-Q for the transition report.