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Akamai Tech posts 27 pc growth in Q1

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CIOL Bureau
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BANGALORE, INDIA: Akamai Technologies, a provider in dynamic transactions and enterprise applications online, today announced its financial results for the second quarter that ended on June 30, 2008.

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It recorded a Generally Accepted Accounting Principles (GAAP) net income for this quarter as $34.3 million or $0.19 per diluted share, which is up 59 per cent year-over-year.

The normalized net income stood at $76.5 million, or $0.41 per normalized diluted share, in this quarter with an increase of 38 per cent year-over-year.

The company secured revenue of $194.0 million, for the second quarter 2008 with a 27 per cent increase over the corresponding quarter of previous year with a revenue of $152.7 million, and a four per cent increase over first quarter 2008 revenue of $187.0 million.

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According to the company the EBITDA margin for this quarter was reported as $92.7 million, with a 41 per cent increase over corresponding quarter for 2007, which was quoted as $65.6 million.

The cash from operations was $69.8 million and year to date cash from operations was $157.8 million, which represents a growth of 78 per cent compared to the corresponding quarter.

During the reporting quarter the customer contract service increased by 53 to a record of 2,725, while sales increased from 16 per cent to 26 per cent which indeed reflect in the company results, said a press release.

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