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Crexendo's CEO Discusses Q1 2012 Results - Earnings Call Transcript

We also continue to improve our offerings and services and we are beginning to offer a full range of cloud services including telecom, web services, web design and services and broadband. I am very impressed with our quality and commitment to our customers I believe we are well on the way of creating a world class business and a significant recurring revenue stream.

I believe in this company and we will continue to put my money where my mouth is, I will now turn the call back over for review to Jon Erickson, Jon?

Jon Erickson

Thank you Steve. We had a good quarter from a cash flow perspective as well as a bookings perspective specifically on the telecom side. From a revenue perspective we had approximately 5.3 million in revenue for Q1 which is broken down as follows. Crexendo web services revenue was 770,000, the 21% increase quarter-over-quarter to a 638,000 in Q4 and 61% increase year-over-year from 479,000.

The increase in revenue on a quarter-over-quarter basis is primarily due to improvements in our fulfillment process allowing for additional one time revenue as well as improvements over the last quarter in our customer churn and our recurring products.

As mentioned last quarter the majority of our revenue in the web services division is recurring in nature such as link building. As such our future rate of growth in this segment on both a year-over-year and quarter-over-quarter basis is largely dependent on our ability to hire sufficient number of qualified sales reps and increase the productivity of our current sales reps. As of today we have 24 direct sales reps which is flat from the prior quarter but we do have several more sales reps in the pipeline.

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