Akamai Technologies reports 13% increase in net income to $40.53m for the fourth quarter 2008
Akamai Technologies, a web content delivery company and a provider of managed services for media, dynamic transactions, and online enterprise applications has reported a 13% increase in net income to $40.53m for the fourth quarter 2008, compared to $35.87m in the year-ago quarter, on revenue up 16% at $212.55m.
Operating income grew 7% to $54.84m, while diluted EPS grew 22% to $0.22. Adjusted EBITDA was $100.3m compared to $86.9m in the same period last year.
The company said that during the quarter 50 customers signed long-term services contracts, bringing the total to 2,725. Revenue from resellers accounted for 17% of total revenue, while revenue outside the US accounted for 25%.
It also completed the acquisition of targeted-advertising company Acerno for $95m. Acerno contributed approximately $6.9m of revenue during the quarter.
For fiscal 2008, the company reported a 44% increase in net income to $145.13m compared to net income of $101m a year ago, on revenue up 24% at $791m.
Paul Sagan, president and chief executive at Akamai, said: As the external environment has become more challenging, we’re pleased that we were able to grow revenue and earnings throughout the year while also broadening our portfolio of solutions to improve internet performance for our customers.