April 27, 2007, 12:00 AM

Akamai reports 53% growth in first quarter revenue

Akamai Technologies, which maintains a network of 20,000 servers around the world to speed delivery of content for online retailers and other organizations, reported sharp increases in revenue and net income in the first quarter.

Kurt Peters

Executive Editor

Akamai Technologies, which maintains a network of 20,000 servers around the world to speed delivery of content for online retailers and other organizations, reported sharp increases in revenue and net income in the first quarter. Revenue for the first three months of the year was $139.3 million, up 53% from first-quarter 2006 revenue of $90.8 million. Net income was $19.2 million, a 67% increase from $11.5 million a year ago.

The first quarter results included about $500,000 in revenue from 18 days of activity of Netli Inc. Akamai this year acquired Netli, whose technology is designed to improve the performance of web-based applications, for $178 million in stock.

Akamai says it added 89 new customers in the first quarter and that Netli added 45. At the end of the quarter, Akamai says 2,481 customers had long-term contracts. The company says sales through resellers accounted for 20% of first quarter revenue, and sales outside of the United States 22%.

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