Web Host The Planet Releases Fourth Quarter Report
January 27, 2009
January 27, 2009 (HOSTSEARCH.COM) Web host The Planet has released a financial report for the fourth quarter of 2009, the company announced recently. According to The Planet, the report shows it had a record period.
We ended the fourth quarter with solid revenue growth and another record year in 2008, explained Douglas J. Erwin, The Planets Chairman and Chief Executive Officer. Across every unit in the company, we made significant gains. Within customer service, data center operations, network development, marketing and product management, our metrics indicate extraordinary improvements. Nevertheless, we will continue to focus on every aspect of our company to enhance our performance. Customers have clearly seen and experienced these changes, and they continue to entrust The Planet with their businesses.
Despite the challenging economic environment, we are confident that we will again set new standards for our operations and deliver solid revenue growth in 2009, continued Mr. Erwin. Were secured by our new $45 million credit facility, which allows us to deliver on our strategic vision, and customers can be confident in our financial stability. Our new 86,000 square foot data center, and the enhanced products and services we will offer this year, provide our customers with the power to choose from the broadest range of cost-effective hosting solutions in the industry. Once again, we had a record year and a record quarter, added Kevin Klausmeyer, Chief Financial Officer. Our cash flows remain healthy, and, in fact, were stronger in the fourth quarter than in all prior quarters, despite a difficult economic climate. We reached high-water marks in virtually all of our efficiency metrics, as a result of continued process improvements and investment in our systems. Our EBITDA came in right on plan for the year and the quarter, and our balance sheet is very strong.
Highlights for the period included customers who continued to upgrade and expand their server portfolios; a $45 million credit facility from Wachovia Bank NA and Bank of America; a new Colocation Data Center in Dallas, USA; the opening of the last phase of the Dallas D6 data center, and initiation of the Storage Cloud a new highly scalable and on-demand storage cloud service. In addition, the company earned several awards during the quarter, including the Deloitte Texas Fast 50, Deloitte North America Fast 500, and the Houston Business Journal FastTech 50 and its Enterprise Champion Award.