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 1, 2006

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, 2005.

For the three-month and twelve-month periods ended December 31, 2005, revenue was $3.7 million and $14.3 million, respectively, compared to $4.2 million and $12.6 million for the three-month and twelve-month periods ended December 31, 2004, respectively. The Company recorded a net loss attributable to common shareholders in the amount of $979,000 ($0.13 per share) for the three-month period ended December 31, 2005 and a net loss attributable to common shareholders of $1.9 million ($0.26 per share) for the twelve-month period ended the same date. The results for the quarter ended December 31, 2005 include an impairment charge to the carrying value of a customer list associated with the acquisition of an operating subsidiary in 1998 in the amount of $484,000 ($0.06 per share). The charge was attributable to a change in the mix of the operations centered in Pittsburgh resulting in a decrease in the proportion of revenue from customers included in the original customer list. The results for the full year 2005 reflect impairment charges in the amount of $630,000 ($0.09 per share), including the charge described above as well as a charge related to another customer list reported with the third quarter 2005 results. The 2005 results compare with net income attributable to common shareholders of $407,000 ($0.04 per share - diluted) and a net loss attributable to common shareholders of $456,000 ($0.07 per share) for the three-month and twelve-month periods ended December 31, 2004, respectively.

“The 2005 results reflect the combination of strong growth for our Pittsburgh and Northern California based offices offset by the anticipated weak year for revenue from interactive media operations,” stated Rich Talarico, Allin’s chief executive officer. “We have recently received commitments from existing customers for three interactive television implementations in 2006 compared to one full implementation completed in 2005. Included in the three commitments is an order for the replacement of an interactive television system which we installed on a Celebrity Cruises vessel in 1995. This marks the first time we have upgraded one of our previously installed systems. We have always believed that our potential target market includes upgrades of existing systems implemented by Allin or its competitors, and this order confirms our belief. We anticipate providing additional information on the three commitments in the near future.”


The following information was filed by Allin Corp (ALLN) on Friday, March 3, 2006 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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