TheStreet.com's Kevin Kelleher has a story out today on Internet Initiative Japan (ticker: IIJI), one of Japan's leading Internet access and comprehensive Internet solution providers, mainly targeting high-end corporate customers. It's a bit of a long read but is an excellent description of the company and what it has been through. And it looks like IIJI may finally realize its dream of being listed on the Tokyo Stock Exchange.
New York AP coverage of IIJI's third-quarter earnings highlighted the following areas:
• Quarterly income nearly quadrupled to 1 billion yen ($8.8 million), or $13.04 per share, from 229.2 million yen ($2 million), or $2.99 per share, last year.
• Revenue totaled 11.93 billion yen ($105.3 million), a 14 percent increase from a year earlier. Internet Initiative said declines in access service revenue and equipment sales were countered by increased demand for value-added services and outsourced work.
• The company held its forecast for annual earnings of $3.7 billion yen ($31.5 million) and revenue of 46.33 billion yen ($394 million).