SOURCE: Alentus

Alentus

May 17, 2010 07:30 ET

Alentus Corporation 1Q2010 Operating Income Jumps to 9.5% of Revenue

LAS VEGAS, NV--(Marketwire - May 17, 2010) -  Alentus Corporation (PINKSHEETS: ALNS), a web hosting, domain registrar, dedicated server, colocation, and E-Commerce hosting provider today announced its financial results for the quarter end Mar 31, 2010.

Alentus is pleased to report dramatic improvements in operating and net income and EBITDA in the sequential quarter Mar 2010 versus Dec 2009. Operating income in the quarter was 9.5% of revenue. This now represents two successive quarters of sequential improvements in all three categories. Full results can be found in our filings at www.pinksheets.com.

  Qtr end Mar 31, 2010     Qtr end Dec 31, 2009  
               
Revenue $ 1,667,109     $ 1,671,487  
               
Operating Income $ 158,368     $ (32,527 )
               
Net Income $ (95,884 )   $ (267,837 )
               
Normalized EBITDA $ 299,795     $ 83,060  

"Our financial turnaround that began last quarter is the result of substantial optimization work in our operations over the last year. We believe we can and will improve the current operations even further over time. With the improving economy and upcoming launch of several 2010 business initiatives, including our recent ICANN registrar achievement, we will also have an increasing focus on growing our revenue. The excess capacity we have in our datacenters will allow that new business to be very high margin and flow to our bottom line. That will likely be good news for our shareholders. Our goal is to get shareholder value in line with many of our peers that have current market caps in the ten times annualized EBITDA range," said William King, CEO. "In addition, we made some progress in the first quarter on decreasing our short term debt and continue to diligently work towards decreasing that further. The 1Q2010 net income figure includes a substantial interest charge and a majority of that could be eliminated if we are successful in those efforts. That success would allow for positive net income levels similar to our already respectable operating income levels." 

About Alentus Corporation (www.alentuscorporation.com) (PINKSHEETS: ALNS)
Alentus Corporation is a multinational, US based, Internet focused solution provider with a network of data and network operations center facilities in Canada, the United States and United Kingdom. The company provides a wide range of Internet based solutions under several brands. Under these brands Alentus provides solutions that include Microsoft Windows asp.net hosting, RedHat Linux website hosting, Sharepoint hosting, SQL and mySQL database hosting, Microsoft Exchange Hosting, Virtual Private Servers (VPS), dedicated server solutions, colocation, and domain name registration to thousands of small- to medium-sized companies and customized solutions to larger organizations including many Fortune 500 clients.

Forward-looking statements:

The statements made in this press release, which are not historical facts, may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

Contact Information

  • Investor Relations Contact:

    David Sasso
    American Capital Ventures
    2875 N.E. 191st Street, Suite 904
    Aventura, Florida 33180
    (305) 918-7000
    Email Contact
    www.amcapventures.com