iXL reports record Q2 financial results

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Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

www.ixl.com/
iXL reports record Q2 financial results

Atlanta-based consulting firm iXL has reported record earnings for its second fiscal quarter ended June 30.

Second quarter revenues increased 17% to $119.2 million from $102.3 million in Q1, and 161% over Q2 1999 revenues ($45.7m).

For the second quarter, EBITDA was $9.2 million; $0.12 per share ($1.3m; $0.05). This represents a 32% quarterly increase over Q1 2000 EBITDA of $6.9 million.

iXL also reported pro forma net income of $3.4 million; $0.05 (-$4.1m; $0.14). Pro forma net income excludes amortization, stock-based compensation and other non-cash expenses, loss in equity investments and assumes an effective tax rate of 39%.

iXL also announced an expansion of gross margin for professional services to 53.4% (50.2%). Total staff grew to 2,834 (2,399). Of the 435 new people added, 93% are billable professionals, bringing total billable employees at the end of Q2 to 2,182.

“Key to iXL’s strong growth is an increasing demand for global services from our enterprise clients,” said iXL president Bill Nussey. “Our strategy of building relationships with premium, world-class organizations such as GE, Delta, FedEx, Virgin, Chase, and our new clients, Wells Fargo, Seagate, Reader’s Digest, Telewest, Alventive and Unilever, has led to real partnerships with these industry leaders. We’ve more than doubled our average engagement size in one year to $14.1 million for our largest 10 clients.”

CEO Bert Ellis adds: “We also completed the strategic financing of CFN during the second quarter. As a consequence, we now recognize CFN’s net operating results using the equity method of accounting.

“The financial statements now give a straightforward summary of operations that are more readily comparable to our peer group. CFN now has over $165 million in cash, a market valuation of $1.2 billion, and a tremendous future in the exploding Enterprise Portal/B2E space. And iXL has a significant ownership position in CFN, which, as a separate company, will also be a significant client of iXL’s services.”

iXL

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