Connxion boosts Q2 revenue 151%

Data services company Connxion (ASX:CXN) has reported a 151 per cent increase in Q2 revenue, and revealed it is on track to launch its Chinese JV in April

Data services company Connxion Limited (ASX:CXN) has revealed its Q2 revenue grew 151 per cent year-on-year to $5.54 million.

The company swung to an operating ebitda of $610,000, from an operating ebitda loss of $40,000 in the same quarter last year.

For the half year, revenue grew to $12.69 million, compared to $3.34 million in 1H10, while operating ebitda grew to $2.37 million from $80,000.

Sales margins grew to nearly 11 per cent at the end of Q2.

Connxion said that formalising its JV with GDS had been a key objective for the quarter, and had kept the company on track to have the venture fully operational by April.

Its goals for the current half-year include implementing a channel sales go-to-market model for this venture, and stimulating further Asian expansion.

The company did not yet give a financial forecast for 2H11.

CXN shares stayed flat during Thursday's trading at $0.026.

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