El l iot t Noss
Thank you, operator. With me is Michael Cooperman our Chief Financial Officer. Today’s call will follow our usual format. I will begin with a brief overview of the financial and operational highlights for the quarter as well as the year on the whole. Mike will then review our financial results in more detail and I will return with some concluding comments before opening the call up to questions.
Our continued strong performance in the fourth quarter concluded a year that was indicative of the consistency and reliability in our business as well as our ability to efficiently deliver growth.Revenue for Q4 was another record, our seventh in a row, at $26.4 million, up 19% from the same quarter of last year. Importantly, we again saw growth generated in each key area of our business. Total revenue for 2011 rose to just over $97 million, also a record. Cash provided by operating activities for the quarter was a healthy $2.7 million and adjusted EBITDA for the year was $7.4 million. Looking at each of our service groups individually. The fourth quarter saw another record for OpenSRS domain service transactions, which were up 20% year-over-year to more than 2.1 million. Domain service revenue was also up 20%. Both new registrations and renewal registrations, continued to show strong growth, up 17% and 21% respectively, excluding the impact of the two customers that became registrars earlier in the year. I will add that our renewal rate continues to hold steady at a level well above the industry average. Total domains under management at the end of the quarter was also a record, at 11.8 million, up 16% from a year earlier, or excluding our EPAG acquisition, up 13%. At YummyNames, our domain portfolio group, Q4 was another strong quarter for sales of individual names, which were up 24% year-over-year, and 31% sequentially. In addition, our focus on increasing the average selling price of brandables and gems is clearly yielding results. Again this quarter we saw another record average selling price, and had a good number of individual name sales in access of $10,000.