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Connxion revenue up 502% in Q1

Connxion revenue up 502% in Q1

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.”

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Tags Connxionit servicesASX:CXNfinancial resultsBill Brooks

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