Posts Tagged ‘NaviSite cloud hosting’

Philip Cheek as UK Managing Director of NaviSite

Wednesday, July 7th, 2010

NaviSite announced Philip Cheek as the new UK Managing Director.  Cheek will oversee management of the UK data center as well as lead the NaviSite sales and marketing efforts throughout the UK and Europe as the company accelerates its growth and offerings in the global cloud-based managed services market.

“We are thrilled to have Philip heading up our UK office. Philip has an outstanding track record of bringing operational and financial success to companies across a variety of industries, including enterprise managed infrastructure and services,” said Brooks Borcherding, President at NaviSite. “Philip will play a central role in leading our success and expanding our compelling enterprise cloud service offerings into the UK and beyond.”

Prior to NaviSite, Cheek was Managing Director at Globix Ltd for seven years.  He has extensive knowledge of the Data Centre Market, having worked at Infinity SDC Ltd as Director for Business Development and his diverse background includes working as Managing Director within an electronic countermeasures company and General Manager of a multi-national freight and logistics business.

“It’s an exciting time to join the NaviSite team, as the company builds on its significant managed and hosting services experience and impressive customer base to establish itself as a leader in the cloud,” said Cheek. “I’m looking forward to doing everything I can to enhance data center capabilities and services, and increase brand awareness in the UK and across Europe.”

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NaviSite Achieves Platinum Partner Status with Oracle

Monday, June 21st, 2010

NaviSite announced it has achieved Platinum Partner status in the Oracle PartnerNetwork.  Oracle recognizes NaviSite’s in-depth expertise and excellence in hosting services for Oracle applications and technology. This is the highest level of membership recognized within the Oracle PartnerNetwork.  Platinum members receive dedicated virtual account management support to build joint development plans and help broaden specialization areas and revenue opportunities. Additional benefits include priority placement in the OPN Solutions Catalog, one free application integration validated by Oracle, joint marketing and sales opportunities, and discounted training.  This will help with their cloud hosting platforms and creating

“With its designation as a Platinum Partner in the Oracle PartnerNetwork (OPN), NaviSite continues to build on its strong, long-running relationship with Oracle,” said Judson Althoff, Oracle Senior Vice President, Worldwide Alliances and Channels. “NaviSite has demonstrated deep application expertise across key Oracle solution areas, and is working towards certified specializations across our technology and applications solutions.”

“We are proud to be in the highest level of the OPN Program,” said Brady Reiter, General Manager of Enterprise Architecture and Application Strategy at NaviSite. “We’ve maintained a steadfast commitment to the Oracle market since our inception and have consistently enjoyed a highly effective relationship with Oracle. We look forward to continuing that collaboration and leveraging our Platinum Partner status to enable organizations, partners and Oracle.”

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NaviSite Third Quarter Financial Results

Friday, June 11th, 2010

NaviSite announced it’s Third Quarter Financial Results for 2010.  Bookings of recurring revenue of $734K, up 47% from the prior year.  Initial gross cash proceeds of $56.9 million with up to $4.5 million to be received in the future upon release of escrow balances.

The following results of operations reported exclude the results of discontinued operations for the periods presented.

— Recurring hosting revenue was $31.0 million for the third quarter, an increase of 4% compared to $29.8 million for the third quarter of fiscal year 2009. The third quarter of fiscal year 2009 included $0.8 million of hosting revenue from NaviSite’s former Los Angeles data center, which lease NaviSite did not renew at the end of the third quarter of fiscal year 2009. Excluding the Los Angeles hosting revenue in the third quarter of fiscal year 2009, recurring hosting revenue increased 7%.

— Total revenue for the quarter ended on April 30, 2010, was $31.4 million an increase of 1.5% compared to $31.0 million in the third quarter of fiscal year 2009. Excluding the revenue from the non-renewal of the Los Angeles data center revenue increased 4% over the prior year.

— Gross margin improved to 37% for the third quarter of fiscal year 2010, representing a one-percentage-point increase from the 36% recorded in the third quarter of fiscal year 2009.

— Income from operations improved 2% for the third quarter of fiscal year 2010, increasing to $0.78 million compared to $0.77 million in the third quarter of fiscal year 2009.

— EBITDA, excluding impairment costs, stock-based compensation, severance, discontinued operations, related gain on discontinued operations, and other non-operational charges (“adjusted EBITDA”), for the third quarter was $6.0 million, a 6% decrease compared to $6.3M for the third quarter of fiscal year 2009. Excluding the impact from the non-renewal of our Los Angeles data center in fiscal year 2009 and the $0.56 million impact from the conversion of our UK data center lease to an operating lease at the end of the second quarter of fiscal year 2010, adjusted EBITDA increased 8% over the prior period in fiscal year 2009.

— Net loss from continuing operations in the third quarter was $0.7 million as compared to a loss of $1.8 million in the comparable period in fiscal year 2009. Net loss from discontinued operations for the third quarter was $1.8 million as compared to a loss of $0.6 million in the third quarter of fiscal year 2009. Net income available to common shareholders for the third quarter including the gain on sale of assets was $17.3m, or $0.47 per share, compared to a loss of $3.2 million, or $(0.09) per share, in the third quarter of fiscal year 2009.

— Cash generated from operating activities for the third quarter of fiscal year 2010 was $4.0 million, representing a decrease of 26% from the $5.4 million recorded in the third quarter of fiscal year 2009.

— Senior leverage ratio (Sr. Debt/trailing twelve months adjusted EBITDA) decreased from 3.3x at the end of fiscal year 2009 to 2.1x at the end of the third quarter of fiscal year 2010.

“With the sale of the two data centers and the former netASPx business, we made significant progress in our strategy to deleverage the balance sheet and focus our marketing and sales efforts to the enterprise customer,” said Arthur Becker, NaviSite’s Chief Executive Officer. “Our strong bookings, success in closing larger enterprise deals, low churn and investments in our proprietary enterprise cloud infrastructure are anticipated to translate into increased revenue and EBITDA growth in the coming quarters.”

Full Quarterly Operational Highlights

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