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Article Excerpt
Driven mainly by 32% Corporate Business Growth
SINGAPORE, Feb. 14 /Xinhua-PRNewswire-FirstCall/ -- Pacific Internet Limited , the largest telco-independent Internet communications service provider by geographic reach in the Asia-Pacific, today reported its 16th consecutive quarter of net income for the period ended December 31, 2005.
Fourth quarter net income was US$2.6 million (or 19 cents per diluted share) while revenues were US$27.3 million. Net income for the full year was US$6.5 million (or 49 cents per diluted share) on revenues of US$102.5 million. The Group also continued its growth in the corporate business with a 32.1% year-on-year revenue growth in the fourth quarter and 15.5% for the full year.
Table I: Summary of Quarterly Financial Results Group Financials Quarter Ended (in US$ 000s) 4Q 2005 4Q 2004 3Q 2005 Revenues 27,349 25,605 24,943 Operating Costs & Expenses 25,678 23,265 23,605 Operating Income 1,671 2,340 1,338 Net Income 2,579 2,091 1,265 Table II: Summary of Year-to-Date Financial Results Group Financials Full Year Ended (in US$ 000s) December 31, 2005 2005 2004 Revenues 102,488 102,092 Operating Costs & Expenses 96,336 94,808 Operating Income 6,152 7,284 Net Income 6,507 6,091 Table III: Customer Base (In Nos.) Corporate Base Corporate Consumer Grand Country Value Total Total Operation Leased Added Business (Broadband Broadband Lines Dial Up Services Total & Dial Up) Singapore 8,239 556 6,595 740 16,130 115,354 131,484 Australia 12,526 195 289 20,303 33,313 39,380 72,693 Hong Kong 12,800 200 48,175 2,625 63,800 21,201 85,001 Philippines 182 183 291 30 686 76,199 76,885 Malaysia 3 48 4 24 79 79 Thailand 444 491 177 128 1,240 8,272 9,512 India 116 80 106 302 760 1,062 Group's Customer Base - Total (As at December 2005) Grand Total 34,194 1,789 55,611 23,956 115,550 261,166 376,716 Group's Customer Base - Total (As at December 2004) Grand Total 26,010 1,600 59,620 13,430 100,660 370,160 470,820 Y-O-Y% Growth 31.5% 11.8% -6.7% 78.4% 14.8% -29.4% -20.0% Note: Total customer base reduction of 20% was due mainly to consumer subscriber decline. Corporate subscriber base continues to grow in line with the Group's focus in the corporate business segment. Revenues
Revenues for the fourth quarter increased 6.8% to US$27.3 million, compared to US$25.6 million a year ago. Quarter-on-quarter, revenues grew by 9.6%. Full year revenues improved 0.4% to US$102.5 million.
This improvement was achieved on the back of the Group's continued focus on the higher-margin corporate business, stronger take-up of its value-added services (VAS), and continuing growth in the broadband segment.
The Group's corporate business revenue grew to US$69.5 million in 2005, up 15.5% from 2004. This contributed 67.8% of total annual revenues, compared to 59.0% in 2004.
In terms of products, broadband access remained the key revenue driver for the Group in 2005, accounting for 49.7% of its total revenues.
Fourth quarter broadband revenues grew by 5.0% year-on-year...
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