Exhibit 99.1

News Release

 

Allin Corporation       Telephone:  

381 Mansfield Avenue

Suite 400

Pittsburgh, Pennsylvania 15220-2751

     

(412) 928-2022

Telefax:

(412) 928-0225

 

Allin Corporation Announces Strong First Quarter Results

Wednesday, May 7, 2008

For Release at 4:30 PM EDT

Pittsburgh, PA: Allin Corporation (OTCBB: ALLN), a Microsoft Gold Certified technology consulting company, today announced financial results for the three months ended March 31, 2008.

Revenue for the three months ended March 31, 2008 was $8.2 million compared to $6.2 million for the three months ended March 31, 2007. The Company recorded net income attributable to common shareholders for the three-month period ended March 31, 2008 of $455,000 ($0.04 per share - diluted), compared to net income attributable to common shareholders of $444,000 ($0.04 per share - diluted) for the same period of the prior year.

Commenting on the financial results for the quarter, Rich Talarico, Allin’s chief executive officer, stated, “Our organic growth continues to be very strong with a 32% increase in revenue in the first quarter of 2008 compared to a strong first quarter last year. We realized the increase across each of our revenue categories, with the increase being driven primarily by strong demand in our interactive media practice. Comparing the same periods, income from operations grew by nearly 11% while we continued to make investments in future growth opportunities such as our recently announced national Microsoft CRM initiative, which David Ritchie will lead.”

Revenue for the three-month period ended March 31, 2008 increased $2.0 million or 32% compared to the same period of the prior year. The revenue growth occurred across each of the Company’s revenue categories and was driven primarily by strong demand in the Company’s interactive media practice.

Gross profit increased $894,000, or 26% comparing the first quarter of 2008 with the same period of the prior year. The Company’s total selling, general and administrative expenses increased $804,000 or 31% comparing the quarter ended March 31, 2008 with the quarter ended March 31, 2007. The increase in selling, general and administrative expense was primarily due to an increase in head count to support the first quarter revenue growth as well as future growth, higher depreciation and amortization expense and investment in research and development supporting the Company’s interactive television technology. Although the improvement in revenue and gross profit was offset to a certain extent by the increased selling general and administrative expenses, net income of $828,000 for the quarter ended March 31, 2008 was higher than net income for the same period of the prior year of $792,000.


The following information was filed by Allin Corp (ALLN) on Friday, May 9, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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