Hostworks cuts a profit

The folks at managed Internet hosting provider Hostworks are popping open the champagne magnums after announcing the company's first quarterly profit.

For the fourth quarter of the 2002 financial year, the ASX-listed service provider was able to achieve a net profit before tax of $10,344 after amortisation.

The positive result was attributed to "landmark" enterprise sales wins, the successful acquisition and integration of Sydney's Interpath, and the consolidation in the hosting market that has seen many competitors such as Intel Online Services drop out of the market.

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