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 Results for Third Quarter

Tuesday, November 11, 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 nine months ended September 30, 2008.

For the three-month and nine-month periods ended September 30, 2008, revenue was $5.9 million and $22.0 million, respectively, compared to $5.7 million and $18.6 million for the three-month and nine-month periods ended September 30, 2007, respectively. The Company recorded a net loss attributable to common shareholders in the amount of $725,000 ($0.09 per share) for the three-month period ended September 30, 2008 and net income attributable to common shareholders in the amount $333,000 ($0.04 per share-diluted) for the nine-month period ended the same date. This compares to net income attributable to common shareholders of $838,000 ($0.07 per share-diluted) and $1.3 million ($0.12 per share-diluted) for the three-month and nine-month periods ended September 30, 2007, respectively.

“Demand for our services remained good in the third quarter relative to the overall economy,” commented Rich Talarico, Allin’s chief executive officer. “We have started to see some softening on the West coast and there is a lack of demand for services in our vertical market concentration in financial services. Revenue growth slowed to 4% in the third quarter of this year compared to 17% in the second quarter. Due both to the timing of projects in our travel and leisure vertical market concentration and the softness in the economy, we currently expect that revenue for the fourth quarter of 2008 will be lower than the same period in 2007.”

Consolidated revenue increased 4% comparing the quarter ended September 30, 2008 with the quarter ended September 30, 2007. Revenue for the nine months ended September 30, 2008 increased 18% comparing the nine-month periods ended September 30, 2008 and September 30, 2007. The year-over-year increase in revenue was driven primarily by strong demand in the Company’s interactive media practice.

The Company’s gross profit percentage declined somewhat from 53.6% of revenue for the nine months ended September 30, 2007 to 53.0% for the same period in 2008. The decline was primarily due to lower gross margins for systems integration in the travel and leisure market as the Company expanded its market share in the cruise industry. Lower gross margins in services focused on the financial services industry also contributed to the decline.


The following information was filed by Allin Corp (ALLN) on Wednesday, November 12, 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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