Limelight Networks(R) Reports Fourth Quarter And Full Year 2010 Results

TEMPE, Ariz., Feb. 14, 2011 (GLOBE NEWSWIRE) -- Limelight Networks, Inc. (Nasdaq:LLNW) today reported fourth quarter and full-year 2010 financial results. Highlights included:

• Record Q4 revenue of $55.2 million and full-year 2010 revenue of $183.3 million
• Q4 Core content delivery business revenue growth of 21% year-over-year
• Continued expansion of cloud-based and consulting services, which comprised 36% of Q4 revenue:

• Q4 Mobile revenue growth exceeded 200% year-over-year
• Q4 Site and application acceleration services growth exceeded 150% year over year
• Q4 Enterprise cloud storage growth exceeded 40% year-over-year
• Q4 Online video platform growth exceeded 110% year-over-year

• Achievement of $0.01 of non-GAAP net income per share in Q4, excluding acquisition-related income tax expense

"Limelight Networks' content delivery and cloud-based services have become embedded into the fabric of the Internet, which has, through computers, tablets, smartphones and Internet-connected televisions, become embedded into the fabric of our lives. We believe that our globally distributed, high-performance computing platform, and the solutions that run on it, are unique within the technology industry, positioning us well for continued growth and market share gains in 2011. We are focused on delivering value to our customers and helping them improve the efficacy of their online businesses in a world where content and ad dollars continue to shift online, the mobile web continues its rapid growth, and enterprise IT applications continue to migrate into the cloud," said Jeff Lunsford, chairman and chief executive officer.

Financial Highlights

For the fourth quarter of 2010, the Company reported revenue of $55.2 million, up 64 percent from the fourth quarter 2009 and up 11 percent sequentially from Q3 2010. The Company also reported Adjusted EBITDA of $8.1 million and non-GAAP net earnings, before share-based compensation, litigation expenses, amortization of intangible assets, and acquisition-related expenses, of $1.5 million, excluding acquisition-related income tax expense, or 1 cent per share on a fully diluted basis. GAAP net loss was $6.3 million, or 6 cents per basic share.