Akamai grows revenue 30% in 2004 and swings into profitability

2004 revenue at Akamai Technologies Inc., a web content delivery network, grew 30% over 2003, reaching $210 million from $161.3 million, the company reports. Net income for 2004 was $34.4 million vs. a net loss of $29.3 million in 2003.

Q4 revenue was $57.6 million, 27% over Q4 2003 revenue of $45.2 million. Net income in Q4 was $13.4 million vs. a net loss of loss of $2.1 million in Q4 2003.

"These quarterly and full-year financial results were the most successful in the company`s six-year history," said George Conrades, chairman and CEO. "In 2004, we demonstrated the power of the Akamai business model by delivering strong revenue growth, high profit margins, sustainable cash flow, and increasing profitability. The market opportunity for our on-demand platform, our growing customer base, and our demonstrated ability to innovate will continue to drive our success."

The company also reported that total customers under long-term services contracts increased by 16% year-over-year to 1,310. New customers in the fourth quarter included CondeNet, Inc., European Space Agency, Golden Village, Marks & Spencer, Maven Networks, Northern Tool & Equipment Co., SKF International, and Spirent Communications.