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 Record Year-End Earnings

Wednesday, February 28, 2007

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, 2006.

For the three-month and twelve-month periods ended December 31, 2006, revenue was $4.0 million and $19.0 million, respectively, compared to $3.7 million and $14.3 million for the three-month and twelve-month periods ended December 31, 2005, respectively. The Company recorded net income attributable to common shareholders in the amount of $336,000 ($0.03 per share - diluted) for the three-month period ended December 31, 2006 and $599,000 ($0.06 per share - diluted) for the twelve-month period ended the same date. The 2006 results compare with a net loss attributable to common shareholders of $979,000 ($0.13 per share) and $1.9 million ($0.26 per share) for the three-month and twelve-month periods ended December 31, 2005, respectively.

“We are very pleased to be able to report record earnings for the year,” stated Rich Talarico, Allin’s chief executive officer. “The results reflect strong growth in every revenue category. In particular, we experienced solid revenue growth in our travel and leisure and financial services vertical markets as well as more broadly in custom application development and services offered around the Microsoft Dynamics suite of products. The growth of the Company’s revenue from the travel and leisure industry reflects a rebound in ship orders by the Company’s interactive media clients. The release schedule for our existing clients is fairly strong over the next few years and, in the latter part of 2006, we added three new cruise line clients. The financial services sector is served primarily through our Boston office, which we acquired in July 2005. This office has done a good job of expanding both its client and revenue base since the acquisition. We believe that 2007 can be a strong year for the Company. The release schedule for Microsoft’s product line should drive services revenue and our backlog of signed business is strong in both the travel and leisure and the financial services vertical markets for the year. Barring an unforeseen turn in the economy, we are confident that we will be able to produce good revenue growth for 2007. Based on the sailing dates for new cruise vessels for which we have interactive media orders, we expect the first half, and especially the first quarter, to be the strongest part of the year.”

Total revenue increased $4.7 million or 33% comparing the full year ended December 31, 2006 with the year ended December 31, 2005. Consulting Services revenue increased $2.7 million or 24% comparing the full year periods ended December 31, 2006 and 2005. The increase in Consulting Services


The following information was filed by Allin Corp (ALLN) on Friday, March 2, 2007 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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