Strong growth in Melbourne IT's Internet Names Worldwide division is credited as being responsible for this week's announcement of positive financial results for 1999.
The domain name company announced revenue of $14.8 million, which exceeded the prospectus forecast of $12.3 million by 19 per cent. EBIT of $1.3 million was nearly double the prospectus forecast of $700,000.
In the Internet Names Worldwide division, revenue more than trebled from $3.4 million in 1998 to $10.6 million.
In a statement issued by the company, revenue in this division came from continued rapid growth in registrations and renewals for .com.au names, as well as the start of registrations of global domain names (.com, .org and .net) in the second half of 1999.