Pacific Internet reported its 16th consecutive quarter of net income for the period ended December 31, 2005

February 15, 2006

2 Min Read

SINGAPORE -- Pacific Internet Limited (Nasdaq: PCNTF), the largest telco-independent Internet communications service provider by geographic reach in the Asia-Pacific, today reported its 16th consecutive quarter of net income for the period ended December 31, 2005.

Fourth quarter net income was US$2.6 million (or 19 cents per diluted share) while revenues were US$27.3 million. Net income for the full year was US$6.5 million (or 49 cents per diluted share) on revenues of US$102.5 million. The Group also continued its growth in the corporate business with a 32.1% year-on-year revenue growth in the fourth quarter and 15.5% for the full year.

Revenues
Revenues for the fourth quarter increased 6.8% to US$27.3 million, compared to US$25.6 million a year ago. Quarter-on-quarter, revenues grew by 9.6%. Full year revenues improved 0.4% to US$102.5 million.

This improvement was achieved on the back of the Group's continued focus on the higher-margin corporate business, stronger take-up of its value-added services (VAS), and continuing growth in the broadband segment.

The Group's corporate business revenue grew to US$69.5 million in 2005, up 15.5% from 2004. This contributed 67.8% of total annual revenues, compared to 59.0% in 2004.

In terms of products, broadband access remained the key revenue driver for the Group in 2005, accounting for 49.7% of its total revenues.

Fourth quarter broadband revenues grew by 5.0% year-on-year and 2.3% over the last quarter, to reach US$13.1 million. Full year broadband access revenue improved 5.7% to US$50.9 million. Corporate broadband access revenue grew 16.7% year-on-year, contributing 69.5% to total broadband access revenue.

VAS revenues more than doubled to US$5.9 million in the fourth quarter compared to the same quarter last year. Compared to the previous quarter, VAS revenue grew by 81.5%. The highest revenue growth for the Group in 2005 was VAS, which recorded a 38.1% growth to reach US$15.3 million for the full year. VAS revenue from the corporate business segment grew 49.8% year-on-year to constitute 90% of total VAS revenue.

Fourth quarter leased line revenues were US$3.6 million, a 14.6% growth year-on-year, and an improvement of 8.9% when compared to the previous quarter. Leased line revenue increased by 4.5% to US$13.2 million for the full year.

Pacnet

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