KPNQwest, the pan-European data communications and hosting company, has announced fourth quarter pre-tax revenues of €220.0 million and earnings of €16.8 million.
The results, the company said, were driven by the combination of the growth of 57.8 per cent over the prior year in communication services revenue and continued improvements in controlling the cost structure of the business
Q4 results represent the tenth consecutive quarter that KPNQwest has met or exceeded the analysts’ estimates for communication services revenue.
For the twelve months ended December 31, 2001, the company reported revenues of € 810.1m, a growth of 75.5 per cent over the year 2000.
Communication services revenue increased 74.8 per cent to €?.9 million, compared to €€ 423.9 million in the prior year.
In addition to the strong growth in the wholesale market, KPNQwest increased to its market share in the IP value-added services market.
Among the deals closed and announced during Q4 are contracts with F-Secure, swissinvest.com, PGS,and Manutan.