Concentric Network Corp. (Nasdaq:
CNCX), provider of network computing technologies and services, reported it
earned $13.7 million in revenue fourth quarter 1997, an 84% increase
compared to results posted the same period last year.
The company reported revenue of $7.4 million for the fourth quarter of 1996.
Of its total revenue for 4Q 1997, 32% was generated through Concentric’s affiliation with WebTV Networks (“WNI”). WebTV Networks, provider of Internet access services via set-top devices, named Concentric in July 1996 as a preferred network service provider of dial-up access services (this relationship has since been renewed).
Additional customers include select Bay Area residents for Concentric’s
ADSL service; companies such as InfoGear Technology, First Data, and
PlanetWeb for its virtual private network services; and Bloomberg LP for
the delivery of Bloomberg’s television news content to PCs via the Net.
“Our record fourth quarter results are early confirmation that Concentric’s
value added services strategy is working for both the Company and its
customers. As usage sensitive enterprise traffic continues to grow, the
semi-fixed cost characteristics of the network services business will
result in operating leverage and thus, improved financial results,” said
Henry R. Nothhaft, President and Chief Executive Officer of Concentric.