Exhibit 99.1

 

News Release

 

Allin Corporation

381 Mansfield Avenue

Suite 400

Pittsburgh, Pennsylvania 15220-2751

    

Telephone:

(412) 928-2022

Telefax:

(412) 928-0225

 

Allin Corporation Announces Year-End Results

 

Wednesday, March 2, 2005

For Release at 4:30 PM EST

 

Pittsburgh, PA: Allin Corporation (OTCBB: ALLN), an information technology consulting company, today reported results for the three months and twelve months ended December 31, 2004.

 

For the three-month and twelve-month periods ended December 31, 2004, revenue was $4.2 million and $12.6 million, respectively, compared to $3.2 million and $13.0 million for the three-month and twelve-month periods ended December 31, 2003, respectively. The Company recorded net income attributable to common shareholders in the amount of $407,000 ($0.04 per share - diluted) for the three-month period ended December 31, 2004 and a net loss attributable to common shareholders of $456,000 ($0.07 per share) for the twelve-month period ended the same date. These results compare with a net loss attributable to common shareholders of $268,000 ($0.04 per share) and net income attributable to common shareholders of $70,000 ($0.01 per share - diluted) for the three-month and twelve-month periods ended December 31, 2003, respectively.

 

“Over the past year, we broadened our service offerings with the expansion of our Business Process Practice Area through both organic growth and acquisition,” stated Rich Talarico, Allin’s chief executive officer. “We believe this practice area is well situated to benefit from growth in Microsoft’s Business Solutions products as customers continue to integrate Microsoft products in running their businesses. Although overall revenue was slightly lower than the prior year, the Company recorded revenue growth of 18% in consulting services for the year, even taking into account a substantial decline in the revenue derived from interactive media engagements. We knew that 2004 would be a difficult year in our Interactive Media Practice Area due to the launch of fewer new cruise ships by our customers, and we are encouraged that growth in the other practice areas was nearly sufficient to fill that void. We have strong visibility with Microsoft in the markets we serve and continue to be the leading source for interactive television solutions in the cruise industry.”

 

Revenue increased 32%, comparing the quarter ended December 31, 2004 with the quarter ended December 31, 2003. Each revenue category showed improvement for the quarter with the most significant growth occurring in consulting services (36%) and information system product sales (295%). The growth in information system product sales is supported by strong growth in the Company’s Business Process Practice Area as the Company provides software, and to a lesser extent hardware, in conjunction with business process solution offerings. The revenue for the quarter was also helped by the timing of


The following information was filed by Allin Corp (ALLN) on Wednesday, March 2, 2005 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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