Investor Home
About Globix
Stock Quote
Press Releases
SEC Filings
Analyst Coverage
Directors
Management
Investor Calendar
Conference Calls
More Information








( Investor Home ) ( About Globix ) ( Stock Quote )
( Press Releases ) ( SEC Filings ) ( Analyst Coverage )
( Directors ) ( Management ) ( Investor Calendar )
( Conference Calls ) ( More Information )

GLOBIX REPORTS FIRST QUARTER 1999 RESULTS
Internet Division Records 71.8% Revenue Increase

New York, New York, February 12, 1999 Globix Corporation (Nasdaq: GBIX) ) today announced results for the first quarter ended December 31, 1998.

For the first quarter ended December 31, 1998, revenues increased 25.1% to $5.93 million compared with $4.74 million for the quarter ended December 31, 1997. Revenues from the Internet Division increased 71.8% to $2.28 million for the three months ended December 31, 1998, from $1.33 million for the three months ended December 31, 1997. Revenues from the Server Sales and Integration Division for the three months ended December 31, 1998, increased 6.9% to $3.65 million from $3.41 million for the three months ended December 31, 1997. The revenue increase in the Internet Division was primarily attributable to an increase in the number of customers to which the Company provided Internet connectivity. Internet Division revenues, as a percentage of total revenues, increased to 38.5% for the three months ended December 31, 1998 from 28% for the three months ended December 31, 1997. This increase reflected the Company’s shift in product mix toward Internet-related sales.

The net loss for the quarter ended December 31, 1998 was $7.82 million or $1.89 per share as compared to a loss of $282,000 or $0.08 per share for the quarter ended December 31, 1997. The increase in loss was primarily attributable to an increase in net interest expense of $3.97 million related to the Company’s $160 million Senior Notes offering, and an increase in Selling, General and Administrative (SG&A;) expenses associated with the Company’s expansion of its Internet Business. These SG&A; expenses included advertising expenses of $1.13 million for the three months ended December 31, 1998 as compared to $132,000 for the three months ended December 31, 1997. In addition, the number of employees increased from 84 on December 31, 1997 to 211 on December 31, 1998.

About Globix
Globix Corporation is a leading provider of Internet connectivity and sophisticated Internet-based solutions to large and medium size businesses. Globix provides businesses with a comprehensive range of value-added products and services designed to enable them to take advantage of their corporate networks and the Internet to effectively carry out their business strategy.

This press release may contain forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of Risk Factors listed from time to time in the Company’s filings with the Securities and Exchange Commission.

Contact:
Marc H. Bell, President & Chief Executive Officer
Globix Corporation
212-334-8501
[email protected]

Back to Top



© 2001 Globix Corporation. All Rights Reserved.   Terms and Conditions   Privacy Statement
New York SuperPOP London SuperPOP Santa Clara SuperPOP