Data and transaction services company Connxion Ventures (ASX:CXN) has reported a revenue increase of 502% year-on-year to $6.8 million in 1Q11.
The company said ebitda grew 196% sequentially to $930,000, while ebitda-to-sales margins were nearly 15%.
Revenue from Q1 was equal to half the company's total revenue for the whole of FY10, Connxion said.
Connxion CEO Bill Brooks said its Asian operations contributed nearly 30% - some $2.3 million – of its Q1 revenue. “While still modest, we are growing our revenue in Asia quarter-or-quarter and see significant upside in our existing contract base and through new qualified prospects.”