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Web Host The Planet Reports “Double-digit” Growth in 2nd Quarter |
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July 30, 2008 – (HOSTSEARCH.COM) – Web host The Planet has reported “double-digit” growth in the 2nd quarter of 2008, the company reported yesterday.
“We had another significant quarter of annualized double-digit growth, accented by continued operational improvements, and again exceeding our plan,” explained Douglas J. Erwin, Chairman and Chief Executive Officer of The Planet. “From our product portfolio, private racks continue to accelerate and contribute significantly to our revenue growth. Concurrently, our largest customers continue to grow with us at double the company’s overall growth rate, which underscores their satisfaction with the depth of our products, services and support. This quarter we made our first acquisition, with the purchase of Indiana-based Touch Support. We have already begun incorporating these services, which provide additional capabilities for our dedicated server customers. We will continue to build-out our infrastructure and services, providing customers with the power to choose precisely what they require from the broadest range of products and services in the industry."
“The outage we experienced this quarter was clearly serious and difficult, and we recognize the negative impact to our customers,” added Mr. Erwin. “We have conducted an exhaustive internal review and have concluded this was an isolated incident. We also have taken additional precautionary steps to examine all of our data centers, and we are confident that they are all in excellent working order. Despite this temporary setback, we continue to exceed the market growth rate estimates, and our outlook is positive.”
“The Planet again produced a record quarter, with the highest year-over-year growth rate in more than a year-and-a-half,” suggested Kevin Klausmeyer, The Planet’s Chief Financial Officer. “While our outage was challenging, we took every measure to minimize customer impact and believe there will be little customer loss. The majority of the financial impact is fully covered by property and business interruption insurance. Finally, we continue to invest in people and infrastructure to accommodate our growth.”
The quarter saw The Planet add around 1,700 customers, with “the greatest portion of growth in the second quarter” coming form customers that upgraded and expanded their “server portfolios”. The company also acquired Indiana-based Touch Support to introduce a “new portfolio of advanced services aimed at its self-managed dedicated server customers under the Planet Alpha brand”. The quarter also saw The Planet meet SAS 70 Type II compliance and Statement on Auditing Standards No. 70 (SAS 70) Type II audit.
In the second quarter the company also expanded its Dallas D6 data center by an additional 12,000 square feet introduced new virtual racks. In addition, the company appointed Robert Walters to lead its newly formed storage and backup business unit. Awards received during the quarter included the “Data Center Manager of the Year” title awarded to Jeff Lowenberg, the company’s Vice President of Facilities, and “Best Corporate Headquarters Relocation” award from the Houston Business Journal. |
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