Akamai Reports Fourth Quarter 1999 Results

Content delivery company Akamai Technologies (http://www.akamai.com) reported fourth quarter 1999 revenue of $2.7 million, up 206% from third quarter revenue of $0.9 million, with 227 signed customers as of year end up from 44 at the end of the third quarter.

"Akamai's significant increase in revenue for the fourth quarter is a direct result of the phenomenal pace at which Akamai has been able to acquire customers and expand our global network, while continuing to unveil new innovation and technology," said George Conrades, chairman and CEO of Akamai. "Following our successful IPO last quarter, we have seen the adoption of our services accelerate among today's leading Web properties. With well over 200 customers, Akamai has established itself as the service of choice for many of today's leading eBusinesses that are seeking high quality, fast and reliable delivery of all forms of Internet content, streaming media, and applications."

Net loss for the fourth quarter and the year ended December 31, 1999 before extraordinary loss from early extinguishment of debt and equity-related non-cash compensation charges was $23.5 million and $44.2 million, respectively, or $0.40 and $1.46 per share, respectively. The EBITDA (earnings before interest, taxes, depreciation, amortization, and other non-cash charges) loss for the fourth quarter and year ended December 31, 1999 was $23.8 million and $43.0 million, respectively. Net loss attributable to common stockholders for the fourth quarter and the year ended December 31, 1999 was $29.8 million and $59.8 million, respectively, or $0.51 and $1.98 per share, respectively.

Some of Akamai's customers include: Apple, Britannica.com, CBS Corporation, CNN Interactive, Discovery Channel Online, iVillage.com, KBkids.com, Lycos, marthastewart.com, Monster.com, The Motley Fool, NBCi, Oxygen Media, Inc., Paramount Digital Entertainment, QUALCOMM Eudora Products, SEND.COM, Symantec, Time Inc., and Yahoo!, among others.