SOURCE: Alentus

www.alentus.com

November 18, 2010 08:30 ET

Alentus Corporation Q3 2010 Financials Strong Following Restructuring

LAS VEGAS, NV--(Marketwire - November 18, 2010) - Alentus Corporation (PINKSHEETS: ALNS), a web hosting, domain registrar, dedicated server, SaaS and E-Commerce hosting provider today announced its financial results for the quarter end Sep 30, 2010.

Alentus is pleased to report strong continuing operating income and EBITDA for 2010. Operating income in the quarter was 10.5% of revenue. EBITDA in the quarter, prior to a one time restructure gain, was $310,903 or 20.6% and $929,817 or 19.6% for the first nine months of 2010. Full results can be found in our filings at www.otcmarkets.com.

     
  Qtr end Sep 30, 2010 9 Mths end Sep 30, 2010
     
Revenue $1,505,790 $4,741,818
     
Operating Income $158,407 $364,809
     
Net Income* $1,246,497 $991,536
     
Normalized EBITDA* $1,512,580 $2,131,494
     
*Includes $1,201,677 one time debt restructure gain  
 

"It is now clear that we have turned the corner on operations improvements with an EBITDA level of approximately $300,000 per quarter in each of the past three quarters. We believe we can and will improve the current operating ratios even further over time as we add new customers into our existing datacenters," said William King, CEO. "In addition, the debt restructuring we achieved in the September quarter will substantially lower our ongoing interest charges. The full impact of that will be seen in the upcoming December quarter. Now that the bulk of the restructuring is completed, we intend to raise the visibility of the Company with investors with a goal to get shareholder value in line with many of our peers that have current market caps in the ten times annualized EBITDA range."

About Alentus Corporation (www.alentuscorporation.com, US Stock Ticker: ALNS)

Alentus Corporation is a multinational, US based, Internet focused solution provider with a network of data and network operations center facilities in Canada and the US. 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:

    William King
    CEO
    1-877-678-9434
    Email Contact