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Article: Affinity Internet Posts 1st Quarter 2002 Financials; Web Hosting Firm's Positive Cash Position Makes Affinity A Market Leader.
- Article from:
- Business Wire
- Article date:
- April 23, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
FORT LAUDERDALE, Fla. & EL SEGUNDO, Calif.--(BUSINESS WIRE)--April 23, 2002
Affinity Internet, Inc. (www.affinity.com), a leading provider of managed Web and application hosting services, today announced positive cash flow for the first quarter 2002, which ended March 31, 2002.
The privately held company reported revenues of $7.3 million for the quarter, an increase of 280.8% over the same period last year. Gross margins reached 67% for the quarter, compared with 36% for the prior quarter. Reflecting Affinity's rapid growth, EBITDA for March was $0.330 million, bringing first quarter EBITDA to $.437 million, compared with a ...
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