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|381 Mansfield Avenue||(412) 928-2022|
|Pittsburgh, Pennsylvania 15220-2751||(412) 928-0225|
Allin Corporation Announces Record Year-End Earnings
Wednesday, March 5, 2008
For Release at 4:30 PM EST
Pittsburgh, PA: Allin Corporation (OTCBB: ALLN), a Microsoft Gold Certified technology consulting company, today reported results for the three months and twelve months ended December 31, 2007.
For the three-month and twelve-month periods ended December 31, 2007, revenue was $6.5 million and $25.1 million, respectively, compared to $4.0 million and $19.0 million for the three-month and twelve-month periods ended December 31, 2006, respectively. The Company recorded net income attributable to common shareholders in the amount of $576,000 ($0.05 per share - diluted) for the three-month period ended December 31, 2007 and $1.9 million ($0.17 per share - diluted) for the twelve-month period ended the same date. The 2007 results compare with net income attributable to common shareholders of $336,000 ($0.03 per share -diluted) and $599,000 ($0.06 per share - diluted) for the three-month and twelve-month periods ended December 31, 2006, respectively.
We are very pleased to be able to report record earnings for a second straight year, stated Rich Talarico, Allins chief executive officer. Based completely on organic growth, we increased revenues by 32% from 2006. More importantly for 2007, we delivered an increase in net income attributable to our common shareholders of over 200% compared to 2006. In addition to our strong financial results, we have received numerous regional, national and global Microsoft awards as a testament to our expertise in delivering services supporting Microsoft technologies. We believe that we are well positioned to compete in every market we serve and we enter 2008 with a strong backlog of signed business.
Total revenue increased $6.1 million or 32%, comparing the full year ended December 31, 2007 with the year ended December 31, 2006. The revenue growth comparing these periods was driven by increases in Consulting Services, predominantly related to strong demand for our interactive services and by demand for business intelligence and custom application development using tools such as Microsoft .NET, Microsoft SQL Server 2005 and SharePoint, as well as larger and more complex Microsoft Dynamics and CRM implementations.
Gross profit increased $3.6 million, or 35%, comparing the year ended December 31, 2007 with the year ended December 31, 2006. Total selling, general and administrative expenses increased $2.3 million or 24% comparing the full year 2007 with the full year 2006 due to increased head count associated with our organic growth and to increased depreciation and amortization expense.
The following information was filed by Allin Corp (ALLN) on Thursday, March 6, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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