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Q2 revenue up 11%: PEER 1

Briefs | 03/19/2007 4:00 am EDT

PEER 1 Network Enterprises Inc., the Vancouver-based Internet infrastructure provider, posted a revenue increase of 11% to $18.13 million in the fiscal second quarter of 2007, which ended on December 31, 2006, from $16.29 million at the same time the previous year. The company’s net profit also increased to $0.85 million in the quarter compared to a net loss of $0.48 million in fiscal 2006’s second quarter. "Our second-quarter financial results are the strongest quarterly figures that PEER 1 has reported to date," said president Fabio M. Banducci. "We saw growth from new and existing customers during the quarter as well as continued margin improvement and look forward to extending our leadership position further in the quarters ahead."

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