This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Internet America Reports Preliminary Unaudited Operating Results For The Fiscal Quarter And Year Ending June 30, 2010

Internet America, Inc. (OTCBB: GEEK) today announced preliminary unaudited operating results for the fiscal fourth quarter and the fiscal year ended June 30, 2010. Total revenues for the fiscal year decreased by 4.6% to approximately $7,419,785, compared to total revenues of approximately $7,782,982 for the fiscal year ending June 30, 2009. Revenues for the fourth fiscal quarter ending June 30 th of 2010 increased slightly to $1,873,796 compared to $1,866,740 for the fourth fiscal quarter ending June 30 th of 2009.

Adjusted EBITDA (earnings before interest, taxes, stock based compensation, and depreciation and amortization) for the fiscal year ending June 30, 2010 was approximately $158,000 compared to adjusted negative EBITDA of approximately ($387,000) in the fiscal year 2009. Adjusted EBITDA was approximately $239,000 in the fourth quarter of fiscal 2010 compared to adjusted negative EBITDA of approximately ($194,000) in the fourth quarter of last fiscal year. Net loss and adjusted EBITDA were positively impacted in fiscal 2010 by continued reductions in costs associated with connectivity and operations and general and administrative expenses. The Company expects to report final audited results around the end of September 2010 in connection with the filing of its annual report on Form 10-K with the Securities and Exchange Commission.

Billy Ladin, Chairman and CEO, said, “We are pleased with our earnings progress over the last fiscal year and particularly the last quarter, and we believe that our EBITDA profitability will continue and possibly improve over the foreseeable future. During the fourth fiscal quarter, we elevated three experienced managers to Vice Presidents, returned over 90% of the employees whose salaries had been reduced as part of the salary reduction plan that began in January to their full compensation levels, and turned our major focus to top line growth. While we are now more focused on revenues, we do not intend to take our eyes off of our goal to improve profitability.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,937.62 +18.03 0.11%
S&P 500 1,981.95 +0.35 0.02%
NASDAQ 4,520.3280 -7.1860 -0.16%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs