Intrapower swings to $326k profit

Intrapower swings to $326k profit

Cloud computing and IP solutions provider Intrapower (ASX:IPX) has reported a swing to a $326,000 profit for FY10.

The company, which had reported a loss of $3.9 million in FY09, generated $25.1 million in revenue for the year. Ebitda grew 7.1% to $1.45 million.

In a letter to shareholders, chairman Mike Ahern and group CEO Greg Kennish said the results showed that “the foundation that has been laid over the past few years is starting to gain traction.

“The traditional voice and data telecommunications industry has shown continued commoditisation, evidenced by reduced pricing and margin pressure,” the letter read.

“As this trend continues, it further validates the board's strategy to focus on its business on-demand opportunities in the small and medium business sector.”

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Tags cloud computingit servicesfinancial resultsintrapowerASX:IPXGreg KennishMike Ahern

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