net.com Posts Eighth Consecutive Quarter of Revenue Growth

net.com reported quarterly revenue of $34.1 million, compared to $27.2 million for the same period last year, an increase of 25%, and $33.8 million in the prior quarter. Net income for the quarter was $1.6 million, or $0.07 per share. The company increased its cash position by $4.2 million during the period, ending the first quarter with cash balances and investments of $98.8 million. The period marked the eight consecutive quarter of revenue growth for net.com. The company said government sales were strong, especially in defense, across the federal systems integrators, and NATO. It also noted increased buying interest from incumbent and interexchange carriers both in the US and Europe, as they move forward with deploying broadband networks that focus on profitability and increased service parameters.
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