Indian digital media company Sify Ltd has recorded a profit of $470,000 in the fourth quarter ending March 31 compared to a net loss of $2.5 million in the corresponding quarter last year. As for the full year figures, it has reduced its losses from $6.9 million in 2004-05 to $3.35 million for the year ending March 31, 2006. The revenues stood at $105.3 million for the fiscal year March 2006, 29.6 per cent higher than the previous fiscal year. [Via Release]
Q4 2005-06 Performance Highlights:
* Revenues stood at $28.9 million for the quarter ended 31st March 2006, 24.9% higher than the quarter ended 31st March 2005. The sequential growth in revenues over the previous quarter was 7%.
* Sify’s cash profit, in Adjusted EBITDA terms, for the quarter was $2.65 million, an increase of $2.07 million compared to the same quarter last year. See below for a reconciliation of Adjusted EBITDA to Sify’s U.S. GAAP operating results.
* Sify’s net profit for the quarter under U.S. GAAP was $ 0.47 million, compared to a net loss of $2.51 million for the fourth quarter in the previous fiscal year.
* Sify ended the year with a cash balance of $ 63 million after capital expenditures of $ 2.8 million during the fourth quarter.
2005-06 Performance Highlights:
* Sify reported revenues of $105.3 million for the fiscal year ended 31st March 2006, 29.6% higher than the previous fiscal year.
* Sify’s cash profit, in adjusted EBITDA terms, for the year was 6.47 million, an increase of 28% compared to the year ended 31st March 2005.
* Sify’s net loss for the year under U.S. GAAP was $ 3.35 million, a decrease of 51.5% compared to a net loss of 6.91 million for the previous fiscal year.
Click here for Sify’s earnings Conference Call transcripts.
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