Earnings: Sify’s In Losses In Q3; Legal Expenses Against Yahoo India Piling Up
By Rafat Ali - Wed 24 Oct 2007 01:04 PM PST
Sify reported its Q3 earnings today, and its revenues were $37.02 million, up 6.4 percent from the year-ago period. The company was in losses and was 2 cents a share, compared to a profit of 4 cents a share in the year-ago period.
Interesting this: Sify incurred exceptional expenses of $1.8 million for legal expenses this quarter related to a case against another Internet company, it said, which is its case against Yahoo (NSDQ: YHOO) India. The total expenses incurred so for the lawsuit is $3.27 million during the current year.
No revenue data points on Sify.com business, as it is being integrated into a new consumer division. It did say that the official site for Indian idol, Indianidol.sify.com, contributed to 15 percent of the incremental page views for Sify.com during the quarter. More in the release here.
From the conference call: Raju Vegesna, the CEO: “I think we are going to be looking at some acquisitions on our international market, especially our infrastructure management services.”
