Primus Telecom's performance picks up

Stuart Corner
Tuesday, 18 May 2010 08:45

IT Industry - Market

After allowing for currency fluctuations Primus Telecom has reported that net revenue for its Australian subsidiary in Q1 of 2010 increased $US1.3m or 1.9 percent, from fourth quarter 2009 and decreased $US0.7m or 1.4 percent, from first quarter 2009.

According to Primus' Q1 US results announcement, "The $US1.3m sequential net revenue increase on a constant currency basis is comprised of a $US0.4m increase from data centres, a $US0.2m increase from wireless, and a $US0.7m increase from on-net local, VoIP, broadband Internet and data service revenue.

Primus said: "The impact of  foreign currency translation was a negative $US0.4m compared to  fourth quarter 2009 and a positive $US18.6m compared to first quarter 2009."

In actual US dollar terms, net revenue was $US69.9m for the three months for the three months to 31 March 2010, an increase of $US0.9m from the fourth quarter of 2009 and an increase of  $US17.9m or 34.4 percent from the first quarter of 2009.